On 21 October 2026, German-headquartered Formycon announced that it has entered into a collaboration with South American company, Biocelys, to develop an undisclosed biosimilar, FYB286. Formycon refers to the biosimilar as a “niche buster”, a drug for a rare condition with global annual sales in the low- to mid-single-digit billion-dollar range.
The collaboration is aimed at combining Formycon’s experience in biosimilar development with Biocelys’ state-of-the-art manufacturing infrastructure. Formycon expects demand for FYB286 to increase substantially, particularly in emerging markets, presenting an attractive market opportunity.
Biocelys is indirectly controlled by ATHOS KG, which is Formycon’s largest shareholder. The project is being financed upfront by Santo Biosimilar GmbH, an affiliated company of ATHOS. Under the agreement with Santo, Formycon will receive arm’s-length compensation for its development services and will participate in future revenues of Santo with a low double-digit percentage share. The co-operation agreement between Formycon and Biocelys covers joint development, manufacture, regulatory approval and supply management of FYB286.