Formycon acquiring biosimilar assets from ATHOS
Munich, Germany-based Formycon (LON: OW4N) shares rose almost 12% to 62.40 euros yesterday, after it revealed that it has agreed to merge its development activities in the area of biosimilars through a long term strategic partnership with ATHOS AG.
The structure of the transaction will involve Formycon acquiring all the rights in FYB202, a biosimilar candidate for Stelara (ustekinumab), as well as a 50% share in FYB201, a biosimilar candidate for Lucentis (ranibizumab).
Johnson & Johnson’s (NYSE: JNJ) Stelara is used to treat various serious inflammatory diseases like moderate to severe psoriasis and inflammatory bowel diseases such as Crohn’s disease and ulcerative colitis. Lucentis, marketed by Novartis (NOVN: VX) and Roche (ROG: SIX), is used to treat age-related neovascular (wet) macular degeneration (nAMD) and other serious eye diseases.
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