SCG/Formycon collaborate on COVID-19 drug FYB207 for Asia-Pacific

Innovative biotechnology companies, Singapore-based SCG Cell Therapy Pte Ltd (SCG), and Germany-based Formycon AG (Formycon), have entered into a collaboration and license agreement for a preclinical stage ACE2 immunoglobulin fusion protein, FYB207. The drug has shown promising potential against major variants of COVID-19 and is expected to go into commercialisation for the Asia-Pacific (APAC) region, largely known as the world’s second-largest healthcare market.

Under the terms of the agreement, SCG has access to Formycon’s ACE2 fusion protein technology used to develop FYB207: Formycon has developed a proprietary technology for human ACE2 immunoglobulin fusion proteins (ACE2-Fc) and created an innovative SARS-CoV-2 entry blocker (FYB207). In preclinical tests, FYB207 has proven efficient in-vitro neutralisation of SARS-CoV-2 and its variants that use ACE2 as a portal of entry for cell infection. FYB207 efficiently prevents cell infection and has demonstrated high protection against coronavirus escape mutations in cell culture. FYB207 also has inherent enzymatic activity that may provide patients with additional pulmonary and cardiovascular protection.

“We are excited with the encouraging results from FYB207 and are pleased to collaborate with Formycon to bring this promising drug to patients in need in the Asia-Pacific region and combat COVID-19. As many Asian countries remove pandemic restrictions, having an effective therapeutic option for COVID-19 is especially important,” said Frank Wang, CEO of SCG.

Meanwhile, Formycon CEO Dr. Carsten Brockmeyer believes SCG’s regional advantages with Singapore, China, and Germany will allow rapid development and commercialisation of FYB207 for consumers in APAC, “the most populated region of the world.”

Read: Singapore signs supply agreement for Merck’s experimental oral COVID-19 drug

Category: Features, Pharmaceuticals