Formycon reports on the results of the Annual General Meeting

EQS-News: Formycon AG / Key word(s): AGM/EGM/Miscellaneous
Formycon reports on the results of the Annual General Meeting

13.06.2024 / 15:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Press Release // June 13, 2024

Formycon reports on the results of the Annual General Meeting

  * Management provides detailed report on financial year 2023 and current
    company performance

  * Shareholders approve all agenda items and formally approve the acts of
    the members of the Management Board and Supervisory Board by large
    majority

  * Supervisory Board becomes more international and expands to five
    members; Colin Bond, Dr Bodo Coldewey and Nicholas Haggar elected as new
    members of the Supervisory Board

* Supervisory Board elects Wolfgang Essler as new Chairman

Planegg-Martinsried, Germany - Formycon AG (FSE: FYB, 'Formycon') held its
Annual General Meeting on 12 June 2024 as an in-person event in Munich. In
its presentation, the Management Board provided shareholders with a detailed
report on the company's development and answered all questions in the
general debate. Dr Olaf Stiller, long-standing Chairman of the Supervisory
Board, chaired the Annual General Meeting for the last time and was bid
farewell with great appreciation for his successful collaboration.

The represented shareholders followed the proposals of the Management Board
and Supervisory Board and approved all of the Executive Board's proposed
resolution resolutions with large majorities. Both the members of the
Management Board and the Supervisory Board were given a formal approval of
their actions with majorities of over 96 per cent in each case.

In order to reflect a more international focus and expanded industry and
financial expertise on the Supervisory Board in future, new and independent
members were elected to the Supervisory Board along with the decision to
increase the size of the Supervisory Board from four to five members. Dr
Bodo Coldewey, Managing Director of WEGA Invest GmbH, the Wendeln family
office, and Nicholas Haggar, currently CEO of healthqube Ltd. and a
long-standing executive at major pharmaceutical companies, were elected as
new members of the Supervisory Board by large majorities. Dr Olaf Stiller
and his deputy Peter Wendeln resigned from the Supervisory Board as planned
with effect from the end of the Annual General Meeting. Colin Bond,
currently still CFO of Sandoz Group AG, was also elected to the expanded
Supervisory Board by a large majority with effect from 1 October 2024. The
Supervisory Board was constituted immediately after the Annual General
Meeting and elected Wolfgang Essler as the new Chairman and Nicholas Haggar
as Deputy Chairman.

Wolfgang Essler, chief representative of the main shareholder ATHOS KG and
new Chairman of the Supervisory Board of Formycon AG, commented: 'I am very
honoured to have been elected Chairman of the Supervisory Board and by the
trust placed in me. I would first like to welcome Bodo, Colin and Nick as
new members of the Supervisory Board of Formycon AG and look forward to
continuing the good and constructive cooperation with my colleagues on the
Supervisory Board and the Formycon Management Board. The global market for
biosimilars will see strong growth in the coming years and Formycon is
excellently positioned to play a decisive role in shaping this development.
On behalf of the entire organisation, special thanks go to Dr Olaf Stiller
and Peter Wendeln, who have been instrumental in shaping Formycon's very
successful development with great dedication and expertise in their many
years as members of the Supervisory Board and in leading roles.'

Votes were cast for 62.16 percent of the share capital. The detailed voting
results and further information on the 2024 Annual General Meeting can be
found at Annual General Meeting - Formycon.

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.


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13.06.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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The issuer is solely responsible for the content of this announcement.

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   Language:       English
   Company:        Formycon AG
                   Fraunhoferstraße 15
                   82152 Planegg-Martinsried
                   Germany
   Phone:          089 864667 100
   Fax:            089 864667 110
   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:    1924711

End of News EQS News Service
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1924711 13.06.2024 CET/CEST