Formycon announces changes to its Executive Board

Formycon AG / Key word(s): Personnel/Miscellaneous
Formycon announces changes to its Executive Board

19-May-2022 / 08:50 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Publication of insider information in accordance with Article 17 of the Regulation (EU) No 596/2014 Ad Hoc Announcement // May 19, 2022

Formycon announces changes to its Executive Board

Munich – Today and effective July 1, 2022, the Supervisory Board of Formycon AG (ISIN: DE000A1EWVY8 / WKN: A1EWVY) ("Formycon") appointed Dr. Stefan Glombitza, who has led Formycon's operational development activities as Chief Operating Officer (COO) since 2016, as Chief Executive Officer (CEO). Dr. Glombitza thus takes over the position from Dr. Carsten Brockmeyer, who leaves the Executive Board as planned on June 30, 2022, when his appointment regularly expires. Dr. Brockmeyer will continue to support the company as a scientific advisor.

The Executive Board around CEO Dr. Glombitza will also be supplemented by two additional experienced pharmaceutical managers:

Effective June 1, 2022, the Supervisory Board of Formycon has appointed Nicola Mikulcik (51) to the Executive Board in the function of Chief Business Officer (CBO) for a period of 5 years. A graduate in business administration, she will be responsible for Business Development and Commercial Affairs.

In addition, the Supervisory Board of Formycon has appointed Dr. Andreas Seidl as a member of the Executive Board as Chief Scientific Officer (CSO) for a period of 5 years, effective July 1, 2022. The 52-year-old biochemist and scientist will lead the preclinical and clinical development, bioanalytics and Scientific Affairs functions.

The previous Chief Financial Officer (CFO), Dr. Nicolas Combé, who is also leaving the Executive Board with the regular expiry of an appointment as planned on June 30, 2022, will continue to be available to the company as CFO and beyond in an advisory capacity, until a suitable Chief Financial Officer has been found and trained.

About Formycon:
Formycon is a leading, independent developer of high-quality biopharmaceutical medicines, especially biosimilars. Formycon AG is listed in the Open Market ("Scale") of the Frankfurt Stock Exchange (ISIN: DE000A1EWVY8 / WKN: A1EWVY).

About Biosimilars:
Since their introduction in the 1980s, biopharmaceuticals have revolutionized the treatment of serious diseases such as cancer, diabetes, rheumatoid arthritis, multiple sclerosis and eye diseases. In the coming years, many of these biotech drugs will lose their patent protection – and by 2020, medications with revenues of approximately USD 100 billion will be off patent. Biosimilars are follow-on versions of biopharmaceuticals, for which exclusivity has expired. They are approved via stringent regulatory pathways in highly regulated markets (such as EU, US, Japan, Canada, Australia) based on proven similarity of the biosimilar with the originator biopharmaceutical reference product. Global sales of biosimilars are estimated to exceed $15 billion by 2020. By 2030, analysts estimate that this figure could rise to over $60 billion.

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

19-May-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de