Noerr advises Formycon AG on successful capital increase

Noerr has advised Formycon AG ("Formycon") with a team led by Julian Schulze De la Cruz on a cash capital increase from authorized capital and a private placement of new shares. All 1,603,877 new shares were subscribed by the Hungarian specialty pharmaceutical company Gedeon Richter Plc ("Gedeon Richter") at a price of EUR 51.65 each.

The implementation of the capital increase was entered in the company's commercial register today. Gedeon Richter thus becomes a new strategic investor in Formycon with a stake of 9.08% of the share capital.

The gross proceeds of the capital increase amount to EUR 82.84 million and are to be used primarily for the further development of Formycon's existing biosimilar pipeline.

Formycon is a leading independent developer of high-quality biopharmaceutical drugs, in particular biosimilars. The company focuses on therapies in ophthalmology and immunology as well as other important chronic diseases and covers the entire value chain from technical development to clinical phase III and the preparation of regulatory dossiers.

The company's shares are listed in the Scale segment of the Frankfurt Stock Exchange.

Advisors to Formycon AG: Noerr PartGmbB

Julian Schulze De la Cruz (Partner, Capital Markets, Frankfurt, lead), Ralph Schilha (Partner, Corporate, Munich), Philip Schmoll (Associated Partner), Sebastian de Schmidt (Counsel), Thomas Thies (Senior Associate, all Capital Markets, all Frankfurt)