PRESS RELEASE: Formycon AG signs first biosimilar licensing agreement with Santo Holding GmbH
Category: Word Press
PRESS RELEASE: Formycon AG signs first biosimilar licensing agreement with Santo Holding GmbH
DGAP-News: Formycon AG / Key word(s): Incoming Orders Formycon AG signs first biosimilar licensing agreement with Santo Holding GmbH
12.12.2013 / 07:25
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- Out-licensing of first biosimilar from Formycon's product development pipeline
- Successful long-term positioning as a global biosimilars development company
- Formycon to receive success-based payments in the three-digit million euro range
Munich - Formycon AG today announced the signing of an exclusive, worldwide licensing agreement with Santo Holding GmbH, owned by the well noted German pharmaceutical investors Andreas and Thomas Strngmann, granting rights to the first biosimilar drug of Formycon's development pipeline. Under the terms of the agreement, Santo Holding will assume responsibility and bear the costs for the development and commercialization of the Formycon biosimilar drug. Formycon will perform the entire further development of the product for Santo Holding.
Formycon will receive an immediate, single-digit million euro up-front payment and will be entitled to additional payments in the three-digit million euro range based upon the attainment of specific regulatory and sales results.
'I am delighted that we have been able to gain Santo Holding for this cooperation arrangement with Formycon. This attests to the strength of Formycon's long-term strategic orientation as a global biosimilars development company. I would also like to take this opportunity to thank the entire team at Formycon, which has worked so hard to bring about this successful outcome,' declared Dr. Carsten Brockmeyer, CEO of Formycon AG.
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PRESS RELEASE: Formycon AG signs first biosimilar licensing agreement with Santo Holding GmbH
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