PRESS RELEASE : Chief Operating Officer Dr. Stefan Glombitza appointed to Formycon AG's Management Board for another Four Years

 
 DGAP-News: Formycon AG / Key word(s): Personnel/Miscellaneous 
Chief Operating Officer Dr. Stefan Glombitza appointed to Formycon AG's 
Management Board for another Four Years 
 
2020-11-24 / 07:30 
The issuer is solely responsible for the content of this announcement. 
 
_Press Release // November 24, 2020_ 
 
*Chief Operating Officer Dr. Stefan Glombitza appointed to Formycon AG's 
Management Board for another Four Years * 
 
Munich - The Supervisory Board of Formycon AG (ISIN: DE000A1EWVY8/ WKN: 
A1EWVY) has extended the appointment of Management Board member Dr. Stefan 
Glombitza as Chief Operating Officer (COO) until December 31, 2024. With 
this decision, the supervisory committee is honoring the Formycon manager's 
successful work over recent years, and providing the continuity needed at 
the head of the company. 
 
Since October 1, 2016, Dr. Glombitza has been the COO of Formycon AG in 
charge of operational development activities and has since then played a 
leading role in the progress of Formycon AG's development projects. The 
initiatives for operational excellence, which were also initiated and 
successfully implemented under his responsibility, were and continue to be 
central building blocks of organizational development, making Formycon an 
outstanding and scalable development organization. 
 
"In light of his outstanding achievements for the company, we are 
particularly pleased to extend Stefan Glombitza's appointment to the 
Management Board until the end of 2024. Thanks to his comprehensive 
expertise and his particular commitment, Mr. Glombitza has successfully 
advanced the further development of the individual biosimilar projects as 
well as the entire development organization in recent years. We are 
convinced that with Dr. Brockmeyer (CEO), Dr. Combé (CFO) and Dr. Glombitza 
(COO) we have established a strong leadership team at Formycon and look 
forward to continuing to work together," commented Dr. Olaf Stiller, 
Chairman of the Supervisory Board 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 antibody-based COVID-19 
compounds. 
 
*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. In 2019, global sales of biosimilars 
exceeded USD12 billion. Analysts estimate that this figure could rise to 
around USD 69 billion by 2025. 
 
*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 
[e-mail] // www.formycon.com [1] 
 
*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. 
 
2020-11-24 Dissemination of a Corporate News, transmitted by DGAP - a 
service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
 
The DGAP Distribution Services include Regulatory Announcements, 
Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
Language:    English 
Company:     Formycon AG 
             Fraunhoferstraße 15 
             82152 Planegg-Martinsried 
             Germany 
Phone:       [phone] 
Fax:         [phone] 
Internet:    www.formycon.com 
ISIN:        DE000A1EWVY8 
WKN:         A1EWVY 
Indices:     Scale 30 
Listed:      Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt 
             (Scale), Hamburg, Munich, Stuttgart, Tradegate Exchange 
EQS News ID: 1149987 
 
End of News DGAP News Service 
 
1149987 2020-11-24 
 
 
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(END) Dow Jones Newswires

November 24, 2020 01:30 ET (06:30 GMT)