Noerr facilitates Formycon AG's successful capital increase
Noerr, led by Julian Schulze De la Cruz, guides Formycon AG in a EUR 82.84 million capital increase with Gedeon Richter Partnership
In a strategic move, Noerr, under the guidance of Julian Schulze De la Cruz, has provided legal counsel to Formycon AG on a successful cash capital increase and private placement of new shares. The entirety of the 1,603,877 new shares has been subscribed by Gedeon Richter, a Hungarian specialty pharmaceutical company, at a per-share price of EUR 51.65.
The capital increase's implementation has been officially recorded in Formycon's commercial register, signifying a new chapter in the company's strategic evolution. With this transaction, Gedeon Richter secures a 9.08% stake in Formycon's share capital, solidifying its position as a strategic investor in the German biopharmaceutical company.
The gross proceeds from this capital increase amount to a substantial EUR 82.84 million. Formycon earmarks these funds primarily for advancing its biosimilar pipeline, emphasising its commitment to developing high-quality biopharmaceutical drugs. The company's focus extends to therapeutic areas such as ophthalmology, immunology, and other critical chronic diseases, covering the entire value chain from technical development to clinical Phase III and regulatory dossier preparation.
Formycon's shares are currently listed in the Scale segment of the Frankfurt Stock Exchange, reflecting its standing as a leading independent developer in the biopharmaceutical sector. The successful collaboration with Gedeon Richter not only injects significant capital into Formycon but also establishes a strategic partnership that is poised to shape the company's future endeavors.
This financial infusion and partnership highlight Formycon's dedication to advancing innovative therapies and further solidify its position as a key player in the biosimilar landscape. Noerr's instrumental role in facilitating this successful capital increase underscores the law firm's expertise in navigating complex financial transactions in the pharmaceutical and biotech industries.