Finox: CHF12 million for further growth

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29.05.2015

Finox Biotech has successfully launched its biosimilar Bemfola in several European countries. Existing shareholders invest CHF12 million to fuel further growth.

FINOX Biotech announced that at a meeting of shareholders a capital raise of 12MCHF was agreed upon. The capital was jointly raised through Finox AG majority shareholder, Willy Michel and through existing shareholders and employees.

Willy Michel, President of the Board of FINOX Biotech, commented; “Finox Biotech is in a full commercial phase in Europe and are growing rapidly. The achievement of the company in launching BEMFOLA in more than 20 countries in 12 months is unprecedented and we, the Board, are cognisant of the investment that this requires. This capital raise further proves our commitment to supporting BEMFOLA through its development and launch”.

In addition the company announced the appointment of three senior executives to help strengthen its Leadership Team.

BEMFOLA was produced using recombinant DNA technology. Both BEMFOLA and the reference product GONAL-f are formulations of the naturally occurring hormone FSH, which plays a key role in human reproduction. BEMFOLA is the result of a targeted drug development process aimed to replicate as closely as possible the reference product. The brief to the development engineers when designing the BEMFOLA injector device was to produce a Pen that absolutely minimised the number of steps a patient needs to take when preparing the injection and to ensure that the patient and physician had maximum control and the least chance of a patient error. The result, the BEMFOLA Pen, is therefore a simple, single-use, once-a-day disposable device, which allows the patient to self-inject.

About FINOX Biotech
FINOX Biotech (FINOX AG) is a biopharmaceutical company with its corporate headquarters in Burgdorf, Switzerland. FINOX Biotech was founded in 2007 with a vision to become a leading company in the field of fertility therapies, by combining high quality Swiss medicines with innovative, award-winning delivery devices.

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