Formycon announces start of clinical phase III trial for Keytruda® biosimilar candidate FYB206

EQS-News: Formycon AG / Key word(s): Study
Formycon announces start of clinical phase III trial for Keytruda® biosimilar candidate FYB206
30.07.2024 / 06:50 CET/CEST
The issuer is solely responsible for the content of this announcement.

Press Release // July 30, 2024

Formycon announces start of clinical phase III trial for Keytruda^® biosimilar candidate FYB206
 

• Phase III “Lotus” trial compares safety and efficacy of FYB206 with reference drug Keytruda^®1 (pembrolizumab)
• The “Lotus” trial will involve the treatment of around 500 randomized NSCLC² patients in various countries in Eastern Europe and Southeast Asia
• Start of clinical trial strengthens Formycon's excellent position in the leading group of pembrolizumab biosimilar developers
   

Planegg-Martinsried, Germany – Formycon AG (FSE: FYB, “Formycon”) announced today that the first patient has been enrolled in the Phase III clinical trial “Lotus” to compare the safety and efficacy of FYB206/pembrolizumab with the immuno-oncology blockbuster drug Keytruda^® (First Patient In). The double-blind, multicenter “Lotus” study is evaluating the best overall response rate (bORR) in patients with non-small cell lung cancer (NSCLC). The comparative treatment comprises up to 17 treatment cycles within 40 weeks. Changes in tumor size will be continuously documented during this period using imaging techniques. Following the comparative treatment, the therapy will be continued for an additional 12 months.

The study design was developed in close coordination with the regulatory authorities U.S. Food and Drug Administration (FDA), European Medicines Agency (EMA) and the Japanese Pharmaceuticals and Medical Devices Agency (PMDA). The trial is being conducted in several countries in Eastern Europe and Southeast Asia and is running in parallel to the Phase I study, which started in mid-June, comparing the pharmacokinetics (PK), safety and tolerability of FYB206 with the reference drug Keytruda^® in patients with malignant melanoma (black skin cancer).

“Immuno-oncology is a relatively young field in cancer therapy and is seen as a great hope for many patients. Pembrolizumab has already demonstrated its efficacy in numerous types of cancer. Additionally, several studies are currently underway to expand the range of indications. This alone highlights the enormous potential of our pembrolizumab biosimilar candidate FYB206 – both in medical and economic terms. In fact, sales of Keytruda^®, currently the world’s best-selling drug, are also continuing to grow.

The start of the Phase III clinical trial represents an important milestone for us in order to provide an effective, safe and cost-effective treatment option for many severely ill cancer patients worldwide in the future,” comments Dr. Andreas Seidl, Chief Scientific Officer (CSO) of Formycon AG.

Non-small cell lung cancer is one of numerous cancer diseases for which the immune checkpoint inhibitor pembrolizumab is indicated. In a wide variety of cancers, cancer cells manage to inhibit the body's own immune defenses by manipulating so-called immune checkpoints. Pembrolizumab, which targets the immune checkpoint PD-1, ensures that the body's own T cells can again fight and kill the cancer cells.

Due to the increasing use of the active ingredient in earlier stages of cancer and the continuing high global demand, sales of Keytruda^® increased by 20% year-on-year in the first quarter of 2024.³ As a result, sales of this currently best-selling drug could rise to USD 30 billion worldwide by 2026.⁴

Following the completion of clinical development and subject to approval by the regulatory authorities, Formycon currently anticipates the earliest market entry of FYB206 after the expiry of the market exclusivity of the reference product in the USA from 2029 and in the EU from 2030. First results of the Phase I trial are expected in 2026. Preliminary results of the Phase III trial are to follow in the course of 2027.

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¹ Keytruda® is a registered trademark of Merck Sharp & Dohme LLC, a subsidiary of Merck & Co, Inc, Rahway, NJ/USA
² Non-small-cell lung cancer
³ https://www.merck.com/news/merck-announces-first-quarter-2024-financial-results/
⁴ https://www.reuters.com/business/healthcare-pharmaceuticals/merck-raises-2024-profit-forecast-strong-cancer-hpv-drugs-sales-2024-04-25/

About Formycon:
Formycon AG (FSE: FYB) is a leading, independent developer of high-quality biosimilars, follow-on products of biopharmaceutical medicines. The company focuses on therapies in ophthalmology, immunology, immuno-oncology and other key disease areas, covering almost the entire value chain from technical development through clinical trials to approval by the regulatory authorities. For commercialization of its biosimilars, Formycon relies on strong, well-trusted and long-term partnerships worldwide. With FYB201/Ranibizumab, Formycon already has a biosimilar on the market in Europe and the USA. Another five biosimilar candidates are currently in development. With its biosimilars, Formycon is making an important contribution to providing as many patients as possible with access to highly effective and affordable medicines. Formycon AG is headquartered in Munich and is listed on the Frankfurt Stock Exchange: FYB / ISIN: DE000A1EWVY8 / WKN: A1EWVY. Further information can be found at: https://www.formycon.com
 

About Biosimilars:
Since their introduction in the 1980s, biopharmaceutical drugs have revolutionized the treatment of serious and chronic diseases. By 2032, many of these drugs will lose their patent protection – including 45 blockbusters with an estimated total annual global turnover of more than 200 billion US dollars. Biosimilars are successor products to biopharmaceutical drugs for which market exclusivity has expired. They are approved in highly regulated markets such as the EU, the USA, Canada, Japan and Australia in accordance with strict regulatory procedures. Biosimilars create competition and thus give more patients access to biopharmaceutical therapies. At the same time, they reduce costs for healthcare providers. Global sales of biosimilars currently amount to around 21 billion US dollars. Analysts assume that sales could rise to over 74 billion US dollars by 2030.
 

Contact:
Sabrina Müller,
Director Investor Relations & Corporate Communications,
Formycon AG
Fraunhoferstr. 15
82152 Planegg-Martinsried
Germany
Tel.: +49 (0) 89 - 86 46 67 149
Fax: + 49 (0) 89 - 86 46 67 110
Sabrina.Mueller@formycon.com

Disclaimer:
This press release may contain forward-looking statements and information which are based on Formycon’s 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.

30.07.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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