Enno Spillner appointed Chief Financial Officer (CFO) of Formycon AG

Press Release // February 7, 2023

Enno Spillner appointed Chief Financial Officer (CFO) of Formycon AG

Munich, Germany - Formycon AG (ISIN: DE000A1EWVY8/ WKN: A1EWVY) today announced that the Company's Supervisory Board has appointed Mr. Enno Spillner to the Company's Executive Board as Chief Financial Officer (CFO) effective April 1, 2023.

Mr. Spillner has more than 23 years of experience and outstanding expertise in the biotechnology industry. In his latest position he has been serving from 2016 to 2023 as CFO and member of the Management Board of Evotec SE, an international science company for the discovery, development and production of highly effective medicines.

In his role as CFO at Evotec SE, which is listed on MDAX, TecDAX as well as NASDAQ, the 52-year-old business graduate was responsible, inter alia, for the company's successful capital market positioning and various successful financial and M&A transactions, and led the company to the US technology exchange NASDAQ in 2021. Most importantly, he helped ensure Evotec SE's very dynamic international growth. Previously, Mr. Spillner worked for more than ten years (2005-2016) at the publicly listed 4SC AG, an innovative biopharmaceutical company, where he held the position as Chief Financial Officer and later additionally as Chief Executive Officer. Prior to that, Mr. Spillner had worked at Bioᴹ AG since 1999, initially as Head of Finance & Controlling. Later on, he gained additional responsibility for significant parts of the Bioᴹ investment business and in 2021 also took over the management of the BioM VC Fund as a partner. In this context, he held interim positions as CFO or CEO in portfolio companies.

Mr. Spillner currently holds supervisory board mandates at Nanobiotix SA, Paris and Leon-Nanodrugs GmbH, Munich.

In his role as Formycon CFO, he will be operationally responsible for the areas Finance/Controlling, Communications & Investor Relations, Human Resources, Legal/Compliance and IT and will, together with his colleagues on the Executive Board Dr. Stefan Glombitza (CEO), Nicola Mikulcik (CBO) and Dr. Andreas Seidl (CSO), drive the company's further development into a globally operating and fully integrated pharmaceutical company with a focus on biosimilars.

Enno Spillner succeeds Dr. Nicolas Combé, whose appointment ended as scheduled on June 30, 2022. Since then, the co-founder of Formycon AG accompanied the company in an advisory capacity as interim CFO.

"I am very much looking forward to my new role of supporting Formycon with full verve in implementing its further growth strategy. The company has established a very promising position as a developer of high-quality biosimilars with a substantial portfolio. Formycon has extraordinary potential and I will work intensively with my new colleagues and the entire team to develop Formycon into one of the leading players in one of the large growth segments in the pharmaceutical industry. In particular, my wide-ranging experiences from the years at Evotec as well as my network can help to consistently implement the upcoming organizational and strategic steps. I would like to thank the Supervisory Board for the trust they have placed in me," said Enno Spillner.

"With Enno Spillner, we are gaining an experienced and outstanding manager who has worked extremely successfully for many years as Chief Financial Officer at internationally operating listed biotechnology companies. We are convinced that he will shape the company with his expertise and help to continue Formycon's success story.

I would like to express my special thanks to Dr. Combé, who, as founder and CFO, was jointly responsible for the establishment and development of our company for more than ten years and played a decisive role in driving it forward. On behalf of the entire Supervisory Board, we wish Nicolas all the best and are pleased that he will remain closely associated with the company," commented Dr. Olaf Stiller, Chairman of the Supervisory Board of Formycon AG.

"Building Formycon from a start-up to a publicly listed company has been a fantastic and intense experience with many great moments. I have been very fortunate to be able to contribute to this success story, and I am very grateful for the support of so many special people over the years. In particular, I would like to thank my employees for their exceptional commitment, loyalty and willingness to perform, as well as my colleagues and the Supervisory Board for their ever-trusting cooperation and high personal appreciation. I am convinced that Enno Spillner as the new CFO is the ideal solution for Formycon and wish him and the entire Formycon family only the best for the future," adds Dr. Nicolas Combé.

About Formycon:
Formycon (ISIN: DE000A1EWVY8 / WKN: A1EWVY) is a leading, independent developer of high-quality biopharmaceutical medicines, especially biosimilars. The company focuses on treatments in ophthalmology, immunology and on other key chronic diseases, covering the entire value chain from technical development to the clinical phase III as well as the preparation of dossiers for marketing approval. With its biosimilars, Formycon is making a major contribution towards providing as many patients as possible with access to vital and affordable medicines. Formycon currently has six biosimilars in development. Based on its extensive experience in the development of biopharmaceutical drugs, the company is also working on the development of a COVID-19 drug FYB207.

About Biosimilars:
Since their introduction in the 1980s, biopharmaceuticals have revolutionized the treatment of serious diseases such as cancer, diabetes, rheumatoid arthritis, multiple sclerosis and eye diseases. In the coming years, many of these biotech drugs will lose their patent protection – and by 2025, medications with revenues of approximately USD 100 billion will be off patent. Biosimilars are follow-on versions of biopharmaceuticals, for which exclusivity has expired. They are approved via stringent regulatory pathways in highly regulated markets (such as EU, US, Japan, Canada, Australia) based on proven similarity of the biosimilar with the originator biopharmaceutical reference product. Currently, global sales of biosimilars are estimated at more than $15 billion. By 2030, analysts estimate that this figure could rise to over $60 billion.

Contact:
Sabrina Müller
Senior Manager Corporate Communications and Investor Relations
Formycon AG
Fraunhoferstr. 15
82152 Martinsried/Planegg/Germany
phone +49 (0) 89 - 86 46 67 149
fax + 49 (0) 89 - 86 46 67 110
Sabrina.Mueller@formycon.com // www.formycon.com
 

Disclaimer:
This press release may contain forward-looking statements and information which are based on our 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.