Formycon is a biotechnology company developing biosimilars. The main lead is FYB201, a Lucentis biosimilar candidate that has completed Phase III and is entering regulatory review. FYB203 is an Eylea candidate biosimilar in preclinical. They are both out-licensed. FYB202, a biosimilar candidate of Stelara, is being developed in a joint venture.
Formycon progressed all key projects in 2020. FYB201 (partnered with Bioeq) is a Lucentis biosimilar to treat neovascular age-related macular degeneration (nAMD). After scaling up manufacturing in 2020, Bioeq aims to resubmit a BLA to the FDA in H121 with a subsequent EMA filing. FYB202 (a Stelara biosimilar) in a joint venture with Aristo Pharma started its Phase III for psoriasis. FYB203 (an Eylea biosimilar partnered with Klinge) is in Phase III. FYB207 is a novel COVID-19 therapy that neutralises SARS-CoV-2 virus and might start trials in late 2021. Formycon ended 2020 with a strengthened €42.2m cash position (2019: €22.4m). FY20 revenue was €34.2m (FY19: €33.3), while the loss was €5.9m (FY19: loss of €2.3m).