Formycon invites to the Annual General Meeting on June 12, 2024 in Munich

EQS-News: Formycon AG / Key word(s): AGM/EGM/Personnel
Formycon invites to the Annual General Meeting on June 12, 2024 in Munich

07.05.2024 / 11:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Press release // 07 May 2024

Formycon invites to the Annual General Meeting on June 12, 2024 in Munich

  * Formycon proposes to the Annual General Meeting a more international
    focus and expansion of the Supervisory Board to five members

  * With Colin Bond, Dr. Bodo Coldewey and Nicholas Haggar, three new
    candidates with relevant industry and financial expertise stand for
    election

  * Dr. Olaf Stiller and Peter Wendeln to step down from the Supervisory
    Board by mutual agreement

Planegg-Martinsried, Germany - Formycon AG (FSE: FYB, 'Formycon') has
published the invitation to its Annual General Meeting on Wednesday, June
12, 2024. The Annual General Meeting will be held as an in-person event for
shareholders and their proxies from 11 a.m. (CEST) at the Haus der
Bayerischen Wirtschaft in Munich.

The agenda for this year's Annual General Meeting includes proposed
resolutions for the election of two new members to the Supervisory Board, an
increase in the size of the Supervisory Board from four to a total of five
members and the election of a new member to the expanded Supervisory Board.
The aim is to achieve a more international focus and expand the industrial
and financial expertise of the Supervisory Board with new independent
members.

In agreement with Formycon, the Chairman of the Supervisory Board, Dr. Olaf
Stiller, and his Deputy, Peter Wendeln, have decided to resign from the
Supervisory Board after more than 10 years of service with effect from the
end of the Annual General Meeting on June 12, 2024.

The Executive Board of Formycon AG therefore proposes to the Annual General
Meeting that a total of three new members be elected to the Supervisory
Board. Dr. Bodo Coldewey, Managing Director of WEGA Invest GmbH, the family
office of the Wendeln family, and Nicholas Haggar, currently CEO of
healthqube Ltd and long-standing executive at major pharmaceutical
companies, are standing for election to replace the outgoing members. Colin
Bond, currently CFO of Sandoz Group AG, will be proposed as a new member of
the expanded Supervisory Board effective 1 October 2024.

The previously elected Supervisory Board members Wolfgang Essler, General
Authorized Representative of ATHOS KG, and Klaus Roehrig, Founding Partner
of the Active Ownership Group AOC, will continue their duties. Wolfgang
Essler has agreed to take over as Chairman of the Supervisory Board
following the election of the new Supervisory Board by the Annual General
Meeting.

Dr. Olaf Stiller, Acting Chairman of the Supervisory Board, commented on his
decision to support and initiate the more international approach and the
expansion of the Supervisory Board: 'Formycon has made impressive progress
in recent years and is on track for expansion with a growing and sustainable
biosimilar pipeline. Now, it is the right time to pass the baton to new
hands. I co-founded the company, have actively supported it for a long time
and will remain closely associated with it as I am very proud of this great
company with its experienced and strong team'.

Peter Wendeln, Deputy Chairman of the Supervisory Board, said: 'As an
investor from the very beginning and today Formycon' s second largest
shareholder, I am very interested in ensuring that the path we have taken,
and the greater internationalization of the business are successful. In
addition to strong partners in manufacturing and commercialization, it is
important to have an internationally focused management and Supervisory
Board team with a strong sector network and financial expertise, and to
adapt and strengthen this team in line with the company's development. Like
Dr. Olaf Stiller, I will remain closely associated with Formycon and proudly
follow its further development.'

Stefan Glombitza, CEO of Formycon AG, commented: 'The biosimilars market
will grow rapidly in the coming years. The development and commercialization
of biosimilars will enable us to achieve our mission of providing
high-quality medicines. The entire Management Board of Formycon AG and its
employees are extremely committed to this task and are working with great
passion to lead Formycon into a promising and profitable future. We would
like to thank Dr. Olaf Stiller and Peter Wendeln from the bottom of our
hearts for their tireless commitment to Formycon as Supervisory Board
members, for their strategic vision as investors and for the great support
that my colleagues and I have received over the years. As Management, we
welcome the new suggestions for the Supervisory Board and its expansion to
five members and hope for the approval of our Annual General Meeting.'

On June 12, 2024, the following candidates will stand for election by the
shareholders:

Colin Bond

Colin Bond is currently CFO of Sandoz Group AG, Basel, Switzerland and will
retire from Sandoz on June 30, 2024. Before joining Sandoz, he was CFO of
Vifor Pharma from 2016 to 2022 and prior to that CFO of Evotec AG from 2010
to 2016. During his early career, he worked as a pharmacist, auditor, and
management consultant for Procter & Gamble, Arthur Andersen, and
PricewaterhouseCoopers LLP, respectively. His academic background includes a
BSc. in Pharmacy and an MBA degree from London Business School. He is a
fellow of the Institute of Chartered Accountants in England and Wales and a
member of the Royal Pharmaceutical Society. Colin Bond holds dual British
and Swiss citizenship.

Dr. Bodo Coldewey

Dr. Bodo Coldewey is Managing Director of WEGA Invest GmbH, the family
office of the Wendeln family, and has extensive experience in corporate
management and investments. He plays a central role in the strategic
direction and management of significant assets of the family office. Prior
to his time at WEGA Invest, Dr. Coldewey held senior positions in the
banking, investment and consulting sectors. He therefore brings not only the
necessary financial expertise, but also a valuable entrepreneurial
perspective to the Supervisory Board.

'The Family Office Wendeln has accompanied Formycon for many years and it
would be a great pleasure for me to take over the mandate from Peter
Wendeln, who would like to retire from operational Supervisory Board work,
and to be able to support this rising company with my expertise as it
continues to grow.'

Nicholas Haggar

Nicholas Haggar is a British citizen and CEO of healthqube ltd, Berkhamsted,
UK, a venture capital investment firm focused on pharmaceutical and
biotechnology companies. Investments focus on specialty, biologics and
innovative medicines. He has gained extensive experience in the
biopharmaceutical industry and held executive positions in renowned
pharmaceutical companies such as GSK, Sandoz and Zentiva over the last 30
years. His broad skills in corporate development and his commitment to the
development of biosimilars make him a valuable leader in the industry.

'Formycon is already one of the most successful pure-play biosimilar
developers with an excellent international reputation. I would like to bring
my many years of experience in this emerging market segment to the company
and contribute to the further development of Formycon.'

Further information:

The invitation for the Annual General Meeting and further voluntary
information on the candidates proposed for election, including information
on memberships in statutory supervisory boards and comparable domestic and
foreign supervisory bodies, are available on the company's website at
https://www.formycon.com/en/investor-relations/annual-general-meeting-2024/.

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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07.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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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:    1896985

End of News EQS News Service
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1896985 07.05.2024 CET/CEST