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Formycon Starts Antibody-Based Drug Development for COVID-19

DGAP-News: Formycon AG / Key word(s): Miscellaneous/Alliance
29.04.2020 / 07:30
The issuer is solely responsible for the content of this announcement.


Press Release // April 29, 2020

Formycon Starts Antibody-Based Drug Development for COVID-19

- Longtime expertise in antibody-based therapies enables targeted development of COVID-19 drugs

- Cooperation with renowned academic and industrial partners

- Implementation of the innovative project without impact on ongoing biosimilar programs

Munich - Formycon AG (ISIN: DE000A1EWVY8/ WKN: A1EWVY) today announced the start of development of COVID-19 drugs. The company develops biological COVID-19 drugs using its clinically validated antibody-based protein drug technology platform, leveraging computer-aided structural protein design as well as a broad panel of physicochemical, functional and biological tests to screen for SARS-CoV-2 blocking antibody-based drugs.

Antibody-based COVID-19 drugs are being designed by computer modeling to achieve the desired specific function, efficacy and safety. Large molecules have specific advantages over small molecule anti-viral drugs, such as a significant longer half-life, which could also allow prophylactic treatment.

Formycon has established collaborations with renowned academic and industrial partners in this field and could already identify eight candidates for further testing. The results of preclinical development are expected in the fourth quarter of 2020. Depending on the outcome of the preclinical phase, clinical testing could be initiated in the third quarter of 2021.

"The novel coronavirus SARS-COV-2 is an unprecedented threat to millions of people, with enormous socio-economic implications. The development of drugs for the treatment of COVID-19 must therefore be accelerated worldwide. We are pleased to be able to contribute with Formycon, because antibody-based drugs have great potential as an important treatment option for COVID-19, and the long half-life of these large molecules could ultimately also protect physicians and care givers from infection in an outbreak scenario", comments Dr. Carsten Brockmeyer, CEO of Formycon.

Dr. Stefan Glombitza, COO of Formycon, adds: "We are excited to combine the knowledge of our experienced team with our excellent scientific and industrial network to find treatment solutions for this global pandemic. Our scientists cumulate decades of experience in protein chemistry, analytics and immunology. Formycon also has many years of experience in successfully moving antibodies and antibody-based therapies into late stage clinical development. The implementation of this innovative project will have no impact on our ongoing biosimilar programs."

About Formycon:
Formycon is a leading, independent developer of high-quality biopharmaceutical medicines, especially biosimilars. The company focuses on treatments in ophthalmology, immunology and on other key chronic diseases, covering the entire value chain from technical development to the clinical phase III as well as the preparation of dossiers for marketing approval. With its biosimilars, Formycon is making a major contribution towards providing as many patients as possible with access to vital and affordable medicines. Formycon currently has four biosimilars in development. Based on its extensive experience in the development of biopharmaceutical drugs, the company is also working on the development of antibody-based COVID-19 compounds.

Sabrina M├╝ller
Corporate Communications and Investor Relations
Formycon AG
Fraunhoferstr. 15
82152 Martinsried/Planegg/Germany
phone +49 (0) 89 - 86 46 67 149
fax + 49 (0) 89 - 86 46 67 110 //

This press release may contain forward-looking statements and information which are based on our current expectations and certain assumptions. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, performance of the company, development of the products and the estimates given here. Such known and unknown risks and uncertainties comprise, among others, the research and development, the regulatory approval process, the timing of the actions of regulatory bodies and other governmental authorities, clinical results, changes in laws and regulations, product quality, patient safety, patent litigation, contractual risks and dependencies from third parties. With respect to pipeline products, Formycon AG does not provide any representation, warranties or any other guarantees that the products will receive the necessary regulatory approvals or that they will prove to be commercially exploitable and/or successful. Formycon AG assumes no obligation to update these forward-looking statements or to correct them in case of developments which differ from those anticipated. This document neither constitutes an offer to sell nor a solicitation of an offer to buy or subscribe for securities of Formycon AG. No public offering of securities of Formycon AG will be made nor is a public offering intended. This document and the information contained therein may not be distributed in or into the United States of America, Canada, Australia, Japan or any other jurisdictions, in which such offer or such solicitation would be prohibited. This document does not constitute an offer for the sale of securities in the United States.

29.04.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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Language: English
Company: Formycon AG
Fraunhoferstra├če 15
82152 Planegg-Martinsried
Phone: 089 864667 100
Fax: 089 864667 110
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1032099

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Last Updated: 29-Apr-2020