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Formycon Raises Fresh Capital To Drive Biosimilar Development

Funding For COVID-19 Also Received

 
• By Dean Rudge

German biosimilars firm Formycon has raised tens of millions of euros through an issue of new shares, with the cash earmarked for its burgeoning pipeline of wholly-owned biosimilars, including a Lucentis (ranibizumab) candidate being developed with Coherus.

Euro currency
The €25.75m investment will go towards biosimilar investment • Source: Shutterstock

Formycon has raised €25.75m ($30.2m) through a share issue, pledging to use the funds “for the expansion and further development of the company’s own product pipeline,” including its primary strategic focus of biosimilars.

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