Formycon appoints Dr. Stefan Glombitza as CEO and sets the course for the future by appointing the two experienced pharmaceutical managers Nicola Mikulcik and Dr. Andreas Seidl to the Executive Board

DGAP-News: Formycon AG / Key word(s): Personnel/Miscellaneous
Formycon appoints Dr. Stefan Glombitza as CEO and sets the course for the future by appointing the two experienced pharmaceutical managers Nicola Mikulcik and Dr. Andreas Seidl to the Executive Board
19.05.2022 / 08:55
The issuer is solely responsible for the content of this announcement.

Press Release // May 19, 2022

Formycon appoints Dr. Stefan Glombitza as CEO and sets the course for the future by appointing the two experienced pharmaceutical managers Nicola Mikulcik and Dr. Andreas Seidl to the Executive Board

- Long-standing Chief Operating Officer (COO) Dr. Stefan Glombitza takes over the position of Chief Executive Officer (CEO)

- Previous CEO Dr. Carsten Brockmeyer leaves the Executive Board after 9 years with the regular end of contract and remains with the company as a scientific advisor

- Nicola Mikulcik and Dr. Andreas Seidl join the Executive Board as the Chief Business Officer (CBO) and Chief Scientific Officer (CSO)

- Enlargement and personnel alignment of the Executive Board ensures stable management of the company and sets the course for future commercial growth

Munich – Formycon AG (ISIN: DE000A1EWVY8 / WKN: A1EWVY) ("Formycon") today announced changes to its Executive Board, setting the stage for continued and stable leadership as the company moves towards becoming a global and fully integrated biosimilars pharmaceutical company.

Today and effective July 1, 2022, the Supervisory Board of 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, with whom he has worked closely in recent years to shape the strategic and organizational direction of the company.

The 57-year-old pharmacist, who holds a doctorate, can look back on more than 20 years of experience in internationally operating companies in the pharmaceutical industry and brings great expertise to this position from various global management and executive positions. In his role as CEO, he is to shape the strategic development of the company in the increasingly commercial phase and, together with his team of experts, implement the successful development of a continuously growing product portfolio.

Dr. Carsten Brockmeyer will leave the Executive Board as planned on June 30, 2022, when his appointment regularly expires. From 2012, he initially worked as a consultant for Formycon before joining the company as Chief Executive Officer (CEO) in 2013. After 9 successful years on the Executive Board, Dr. Brockmeyer will continue to support the company as a scientific advisor, in particular assisting with the development of the biosimilar candidates and the COVID-19 drug.

Dr. Stefan Glombitza says: "I am very much looking forward to the new role and the extremely motivating task of leading Formycon into the next phase of its business and realizing the enormous potential of this company. I very much appreciate the trust placed in me. For this, I would like to express my special thanks to our Supervisory Board and also to my colleagues on the Executive Board, with whom I have had the opportunity to do a great deal of work over the past 6 years. My enthusiasm for Formycon is undiminished and I will continue to do my utmost to drive the company forward with full vigor. I would like to thank Dr. Brockmeyer very much for his many years of trusting and productive cooperation. It means a lot to me to be able to continue the Formycon success story he started."

Dr. Carsten Brockmeyer adds: "Dr. Glombitza has already impressively demonstrated in recent years how to build a very efficient development organization and create the stable foundation for the commercialization of our product portfolio. When we started the strategic realignment as a biosimilar developer at Formycon in 2012, the company comprised around 30 employees. Today, we have grown to over 200 employees from 24 nations and have positioned ourselves internationally as a renowned biosimilar developer with a substantial portfolio. On our way to becoming a globally operating and fully integrated pharmaceutical company for biosimilars, I cannot imagine a more suitable CEO than Dr. Glombitza. I remain closely associated with Formycon and will be happy to continue contributing as a scientific advisor. I am very proud of what we have achieved together at Formycon and would like to thank my colleagues on the Executive Board, the Supervisory Board, the employees, the shareholders, and our business partners for their consistently trusting and constructive cooperation."

The Chairman of the Supervisory Board of Formycon, Dr. Olaf Stiller comments: "I can only endorse the words of Dr. Brockmeyer. Dr. Glombitza has done an exceptional job in the past years and has shaped Formycon into an outstanding and scalable development organization. We are convinced that we will achieve the goals we have set ourselves with him at the helm. At the same time, I would like to thank Dr. Brockmeyer on behalf of the entire Supervisory Board for his outstanding work in building up Formycon. With his expertise in biosimilars, the course was set right from the start. We are pleased that Dr. Brockmeyer continues to support us as a scientific advisor and wish him all the best for the future."

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 has years of expertise in product development, business development and commercial affairs. During her career in the pharmaceutical industry, she passed through various management positions at Hexal AG and Sandoz International. For the past 7 years, Ms. Mikulcik has been the managing director of Bioeq GmbH, which Formycon acquired from ATHOS KG in the transaction announced at the end of March. As part of Formycon's collaboration with Bioeq, Ms. Mikulcik was largely responsible for the FYB201 commercialization partnerships with pharmaceutical companies Teva Pharmaceutical Industries Ltd. and Coherus BioSciences, Inc. In her role as CBO, she will be responsible for Business Development and Commercial Affairs.

"Due to the long-standing and constructive cooperation with Formycon, I am very pleased to now become a part of the Executive Board and to actively shape the company's development. We have exciting years ahead with global launches by our commercial partners. I would like to thank the Supervisory Board for the trust they have placed in me," comments Nicola Mikulcik.

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 experienced scientist brings more than 20 years of experience in biosimilar development and, together with Dr. Carsten Brockmeyer, was one of the pioneers in the development and approval of the first biosimilars. He was most recently responsible for the development operations of Leukocare AG as COO. Previously, he was head of Analytical Characterization & Bioanalytics at Novartis and held similar positions at Sandoz Biopharmaceuticals and Hexal AG. In his role as Chief Scientific Officer, he will ensure Formycon's strong presence and reputation in the scientific community and lead the preclinical and clinical development, bioanalytics and Scientific Affairs functions.

"Formycon is a prime example of a dynamic and research-driven company that is now on its way to becoming a globally operating and fully integrated pharmaceutical company in the growing biosimilars market. It is a great pleasure for me to support the scientific work of this outstanding team with my energy and to actively contribute to the further growth of the company," explains Dr. Andreas Seidl.

The Chairman of the Supervisory Board of Formycon, Dr. Olaf Stiller adds: "With Nicola Mikulcik and Dr. Andreas Seidl, we are adding strong people to the Executive Board of Formycon who are well-known in the pharmaceutical world and who are capable of advancing the company in the long term and strategically in their respective areas of responsibility. With this strong leadership team, we are not only creating continuity and stability, but also the foundation for agile development and further growth."

The operational management team is completed by Chief Financial Officer (CFO) Dr. Nicolas Combé, whose appointment as a member of the Executve Board will also end as planned on June 30, 2022 after a total of 12 years. Until a suitable CFO has been found and trained, Dr. Combé will continue to be available to the company as CFO and in an advisory capacity.

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 a COVID-19 drug FYB207.

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 2025 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
Tel.: +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.

19.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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