DGAP-News: Formycon reports on virtual general meeting 2022 | News

DGAP-News: Formycon AG / Keywords: General Meeting / Various

Formycon reports of the virtual general meeting 2022

07/01/2022 / 10:03
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Press release // July 1, 2022.

Formycon reports of the virtual general meeting 2022

  • Shareholders approve all items on the agenda
  • The Supervisory Board and the Management Board discharge the vote by the overwhelming majority
  • Dr. Thomas Strüngmann elected to the Supervisory Board with 99.99%
  • Introducing new board members, Nicola Mikulcik and Dr. Andrzej Seidl
  • Detailed management reporting on the implemented development projects

Munich Formycon AG (ISIN: DE000A1EWVY8 / WKN: A1EWVY) organized a virtual general meeting on June 30, 2022.

Shareholders could follow the virtual General Meeting of Shareholders live in video and audio via the company’s AGM portal. They followed the suggestions of the Management Board and the Supervisory Board and adopted all resolutions proposed by the Management Board with a large majority of votes. Both the members of the Management Board and the Supervisory Board received a vote of confidence with a majority of over 98%. It was also decided by an overwhelming majority of votes to extend the Supervisory Board, and Dr. Thomas Strüngmann was elected member of the Supervisory Board with 99.99% of the votes represented.

In its presentation, the Management Board informed the shareholders in detail about the current biosimilar projects, the development of the COVID-19 drug and the transaction with ATHOS KG, and answered all previously received questions. In addition, Nicola Mikulcik, who was appointed to the Management Board as Chief Business Officer (CBO) from June 1, 2022, and the future Chief Scientific Officer (CSO) Dr. Andreas Seidl to the shareholders.

The right to vote may be exercised before and during the virtual General Meeting by voting by correspondence or by authorizing the company’s proxies. About 10.7 million shares were given in total, which constituted 70.96% of the share capital.

Detailed voting results and further information on the 2022 Virtual General Meeting can be found at https://www.formycon.com/investoren/hauptversammlung/.

About Formycon:
Formycon is a leading independent producer of high-quality biopharmaceuticals, especially biosimilars. The company focuses on therapies in ophthalmology and immunology as well as other important chronic diseases and covers the entire value chain, from technical development to clinical phase III and the preparation of approval documents. With its biosimilar medicines, Formycon makes a significant contribution to ensuring that as many patients as possible have access to important and affordable medicines. Formycon is currently working on four biosimilar medicines. Based on extensive experience in the development of biopharmaceuticals, the company is also working on the development of an innovative drug for COVID-19 FYB207.

Information on biosimilar products:

Since the 1980s, biopharmaceuticals have revolutionized the treatment of serious diseases such as cancer, diabetes, rheumatism, multiple sclerosis and acquired blindness. Many biopharmaceutical patents will expire in the coming years, and by 2025, drugs with sales of around $ 100 billion will lose their legal protection. Biosimilars are successors to biopharmaceutical products whose market exclusivity has expired. The approval process in strictly regulated markets such as the EU, US, Japan, Canada and Australia follows strict regulatory requirements that ensure that the biosimilar product is comparable with the reference product. It is estimated that in 2020, global sales of biosimilars will amount to over $ 15 billion. According to analysts’ estimates, by 2030 it may increase to over 60 billion dollars.

Sabrina Mueller
Senior Manager of Corporate Communications and Investor Relations
Formycon AG
Fraunhoferstr. 15
82152 Martinsried / Planegg / Germany
Telephone: +49 (0) 89 – 86 46 67 149
Fax: + 49 (0) 89 – 86 46 67 110
Sabrina.Mueller@formycon.com // www.formycon.com

This release may contain forward-looking statements and information that are based on our current expectations and assumptions. Known and unknown risks, uncertainties and other factors may lead to significant deviations between the estimates made here and the actual future results. This could affect the future financial situation and the overall development of the company and product development. Such known and unknown risks and uncertainties include, but are not limited to, research and development, approval process, regulatory and other activities, clinical trial results, rule and regulatory changes, product quality, patient safety, patent litigation, and contractual risks and third party dependencies. With respect to piping projects, Formycon AG makes no representations, warranties or other guarantees that they will receive the necessary regulatory and approval approvals or that they will be cost-effective and / or effective. Formycon AG is under no obligation to update these forward-looking statements or to revise them for any change that is not expected. This document does not constitute an incentive to buy or sell Formycon shares, and the Company does not intend to publicly offer Formycon shares through this version. This document and the information contained therein are not for distribution in the United States, Canada, Australia, Japan or any other country where solicitation to buy or sell stock is prohibited. This publication is expressly not an invitation to purchase US stock.

01/07/2022 Publication of Corporate News / Financial News broadcast by DGAP – EQS Group AG website.
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