Formycon's COVID-19 drug FYB207 Wins Prestigious Pharma Trend Image & Innovation Award 2021

DGAP-News: Formycon AG / Key word(s): Miscellaneous/Miscellaneous
15.09.2021 / 08:40
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Press Release // September 15, 2021

Formycon's COVID-19 drug FYB207 Wins Prestigious Pharma Trend Image & Innovation Award 2021

Munich - Formycon AG (ISIN: DE000A1EWVY8/ WKN: A1EWVY) yesterday received the Pharma Trend Image & Innovation "Most Innovative Product(R)" Award in the category of Leap Innovations for its COVID-19 drug development FYB207.

For what is now the 22nd time, the Pharma Trend Image & Innovation Awards, also known in the industry as the Pharma Oscars, were presented in various categories at a celebratory awards ceremony under the patronage of Bavarian Health Minister Klaus Holetschek, MdL.

Pharma Trend is the benchmark study on innovation and sustainability which has been conducted on behalf of PharmaBarometer magazine since 2000 and which, through a survey of more than 1,000 physicians, pharmacists and patients, serves as the basis for the awards. For the first time this year, "Most Innovative Product(R)" was awarded in the category of Leap Innovations in cooperation with BioM, a network organization of the biotechnology industry in Munich and Bavaria acting on behalf of the Bavarian Ministry of Economic Affairs. Companies that will receive funding from the German Federal Ministry of Education and Research (BMBF) or the Free State of Bavaria for the development of COVID-19 therapies in 2021 were eligible to apply. In July 2021, Formycon received a commitment from the Bavarian State Ministry of Economic Affairs, Regional Development and Energy (StMWi) of up to EUR 12.7 million to support the further development of the COVID-19 drug FYB207.

FYB207 is a long-acting ACE2 immunoglobulin fusion protein. SARS-CoV-2 and other coronaviruses use the ACE2 protein on the surface of human cells as a portal of entry for respiratory infections. Formycon has therefore fused the human ACE2 protein with the constant portion of human immunoglobulin to create an innovative COVID-19 agent (FYB207) that is protected against viral mutations, completely prevents cell infection in vitro, and can potentially be used against all coronaviruses that use ACE2 as a portal of entry for cell infection. The basic scientific work on this is being funded by the Bavarian Research Foundation.

Laboratory studies conducted by Formycon in collaboration with its academic partners Prof. Ulrike Protzer, Chair of Virology, and Prof. Johannes Buchner, Chair of Biotechnology at the Technical University of Munich (TUM) show that Formycon's ACE2 fusion protein, in addition to efficiently neutralizing the coronavirus variants alpha (B.1.17) and beta (B.1.351) in the picomolar range, also exhibits strong binding to the viral spike protein of the SARS-CoV-2 delta variant (B.1.617.2). In summary, these laboratory data demonstrate that FYB207 retains its full antiviral potential even for the rapidly spreading SARS-CoV-2 variants-of-concern.

"Receiving the prestigious Pharma Trend Image & Innovation 'Most Innovative Product(R)' Award for Leap Innovations is a great pleasure and encourages us in our innovative COVID-19 drug development. We would like to thank the jury for this award as well as our academic partners at the Technical University of Munich and our entire team for their excellent scientific work. We would like to express our gratitude to the Bavarian Research Foundation and the Free State of Bavaria for their extensive financial support. We believe that SARS-CoV-2 will remain a long-term threat to the health of many people. With FYB207, we are working on a tailor-made COVID-19 drug that also protects against viral mutations and thus should also contribute to the prevention of future coronaviruses," commented Dr. Carsten Brockmeyer, CEO of Formycon AG.

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 an innovative COVID-19 drug.

Contact:
Sabrina Müller
Senior Manager 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
Sabrina.Mueller@formycon.com // www.formycon.com

Disclaimer:
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.

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