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EQS Newswire / 25/02/2026 / 11:12 UTC+8 Suzhou, China, February 24, 2026 — CF PharmTech, Inc. (HKEX: 2652.HK) (“CF PharmTech” or the “Company”) today announced that the Investigational New Drug (“IND”) application for ICF004, the Company’s internally developed first-in-class (FIC) inhaled dry powder candidate for the treatment of pulmonary fibrosis (a Class 1 chemical drug candidate), has been accepted by the National Medical Products Administration of China (“NMPA”). The acceptance of the ICF004 IND application marks a key step forward in the Company’s innovative drug research and development efforts and an important milestone in advancing translational innovation based on the Company’s complex respiratory formulation and precision delivery platform. The Company believes progress in the ICF004 program not only supports the clinical development value of a standalone pipeline asset, but also demonstrates its ability to translate high-barrier delivery and formulation platform capabilities into innovative drug clinical development assets. Addressing Unmet Needs in PF-ILD: Resolving Efficacy-Tolerability Dilemma ICF004 is intended for the treatment of Progressive Fibrosing Interstitial Lung Disease (“PF-ILD”), a disease area that includes life-threatening indications such as Idiopathic Pulmonary Fibrosis (“IPF”) and Progressive Pulmonary Fibrosis (“PPF”). PF-ILD is characterized by progressively worsening respiratory symptoms and irreversible decline in lung function, and is generally associated with poor prognosis. Using IPF as a representative condition, publicly available data indicate a median survival of approximately 2.8 years and a 5-year survival rate below 40%, underscoring the substantial clinical burden of disease. Oral therapies have been approved globally for the treatment of IPF. Public clinical data and real-world evidence suggest that, while existing therapies may slow decline in lung function to some extent, some patients still face limited survival benefit, significant adverse-event burden, and treatment interruption or discontinuation. For patients coping with both disease progression and treatment-related side effects, there remains an urgent global need for next-generation therapies that can better balance safety, efficacy, and long-term treatment adherence. The Company believes the development rationale for ICF004 is grounded in these unmet needs. The program seeks to explore new delivery and therapeutic pathways on top of existing treatment approaches, with the goal of improving the therapeutic window and patient outcomes. Improving Therapeutic Window Through the Integration of Mechanism Exploration and Formulation Innovation Through Local Targeted Delivery Based on the Company’s current development strategy, ICF004 uses an inhaled dry powder delivery route designed to deliver the drug directly to lung lesion areas, thereby increasing local pulmonary exposure while minimizing systemic exposure to the extent possible, in pursuit of a better balance between efficacy and safety. The Company positions ICF004 as a candidate integrating mechanism exploration and formulation innovation, and continues to conduct mechanistic research and translational validation around fibrosis-related pathological processes, including inflammation, oxidative stress, and fibroblast activation. Preclinical Findings Demonstrate Differentiated Pulmonary Exposure Profile Supporting Development Strategy According to the Company’s completed preclinical studies, ICF004 demonstrated differentiated distribution characteristics between lung tissue exposure and systemic blood exposure following inhaled administration. In relevant studies, the Company observed a significant exposure differential between lung and blood, supporting the project’s subsequent development strategy centered on improving target-organ exposure efficiency and reducing systemic exposure burden through local targeted delivery. In addition, the Company observed anti-fibrotic activity trends for ICF004 in relevant preclinical models. These findings provide supportive information for subsequent clinical development; however, whether they will translate into clinical efficacy and safety advantages in humans remains to be verified in future clinical trials. Platform Validation: Extending from Complex Formulation to Innovative Drug Translational Capability and Strategic Significance The acceptance of the ICF004 IND application marks the first time one of the Company’s innovative drug programs has entered the regulatory acceptance stage. The Company believes the strategic significance of this progress is reflected primarily in the following areas:
Leveraging its capabilities in inhalation delivery, device engineering, regulatory registration, and industrialization, CF PharmTech continues to advance a multi-layered product portfolio and explore opportunities in delivery-enabled innovative drug development across broader disease areas. Next Steps The Company will continue to advance subsequent clinical development activities for ICF004 in accordance with NMPA requirements, including clinical start-up preparation, subject enrollment arrangements, and phased data readouts. At the same time, the Company will prudently evaluate strategic pathways such as independent development and collaborative development based on the project’s clinical progress, resource allocation, and external partnership opportunities, and will fulfill information disclosure obligations in a timely manner in accordance with applicable regulatory requirements. Important Risks and Disclaimers Innovative drug R&D involves high investment, long development timelines, and significant risks. Uncertainties remain in the subsequent clinical development, regulatory review and approval, and commercialization process of ICF004. The Company reminds investors to exercise rational judgment and be mindful of the risks associated with investing. About CF PharmTech CF PharmTech focuses on the development of complex formulations, small nucleic acid and liposomal drugs, and precision delivery technologies in key therapeutic areas such as respiratory diseases, and has capabilities in inhalation delivery, device engineering, regulatory registration, and industrialization. The Company is advancing a multi-layered product portfolio based on these platform capabilities and continues to explore clinical translation opportunities in innovative drug development. Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements, including but not limited to statements relating to the development, clinical progress, regulatory review, and potential commercialization of ICF004, and the Company’s strategic plans and expectations. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied. Such risks and uncertainties include, but are not limited to, risks related to clinical development, regulatory approval, commercialization, market conditions, and other factors. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to update any forward-looking statements, except as required by applicable law or regulation.
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Promatix Biosciences Presents Positive Preclinical Data with First-in-Class PBS293 EGFR×EphA2 Cis-Bispecific ADC Demonstrating Enhanced Tumour Selectivity
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Promatix Biosciences, Ltd. / Key word(s): Study/Study results Promatix Biosciences Presents Positive Preclinical Data with First-in-Class PBS293 EGFR×EphA2 Cis-Bispecific ADC Demonstrating Enhanced Tumour Selectivity 24.02.2026 / 13:30 CET/CEST The issuer is solely responsible for the content of this announcement. Promatix Biosciences Presents Positive Preclinical Data with First-in-Class PBS293 EGFR×EphA2 Cis-Bispecific ADC Demonstrating Enhanced Tumour Selectivity
London and Cambridge, UK — 24 February 2026 — Promatix Biosciences Ltd (Promatix), an emerging UK-based biotechnology company developing innovative new classes of cancer therapies using cis-bispecific antibodies, today presented positive preclinical data at the 16th World ADC London Summit on its lead molecule, PBS293-MMAE, a first-in-class bispecific ADC for colorectal cancer. PBS293-MMAE was developed using Promatix’s proprietary proteomics-based discovery platform for ADC selection, which systematically analyses tumour and normal tissue surface proteins to identify novel anti-tumour antigen pairs. This approach delivers candidates engineered for cis-bispecific “AND-gate” targeting through hybrid avidity, whereby strong binding occurs when both target antigens are present on the same tumour cell, supporting improved efficacy and reduced toxicity compared to conventional ADC approaches. “The ADC field has made significant progress in payload, linker and conjugation chemistry, yet true tumour-selective targeting remains a major challenge,” said Dr. Michael Hunter, CEO and Co-Founder of Promatix. “Many of the most validated oncology targets, such as EGFR, are also expressed in healthy tissue, which can constrain the therapeutic window and limit efficacy. By utilising our unique capability to identify differentiated antigen pairings and engineering ADCs that depend on dual engagement, we aim to improve selectivity, enhancing both efficacy and safety across novel and validated targets. Our initial focus is in solid tumours where the prevailing standard of care remains inadequate for many patients. The data presented with our lead molecule, PBS293-MMAE, at the 16th World ADC London Summit provide early evidence that this strategy holds the promise of developing therapies with novel mechanisms that can provide meaningful new treatment options for patients.” PBS293-MMAE targets EGFR and EphA2, which are co-expressed in colorectal cancer cells. While EGFR is a clinically validated target in colorectal cancer, benefit from EGFR-targeted therapeutic antibodies such as cetuximab remains limited to a subset of patients, and its utility is restricted by toxicity related to widespread expression of EGFR in healthy tissues. Data presentation highlights Target co-expression: Proteomic analysis combined with FACS (fluorescence-activated cell sorting) analysis of patient-derived colon cancer xenograft tissue have demonstrated high levels of membrane co-localisation of EGFR and EphA2, supporting the biological rationale for dual-target engagement. Hybrid avidity: Hybrid avidity–dependent engagement, in which both antigens are required for binding, has been confirmed for PBS293 in a variety of studies, including cell binding, payload internalisation and cytotoxicity. Improved tumour suppression: In HCT116 colorectal cancer cells, PBS293-MMAE demonstrated low-nanomolar potency over 50-fold greater than cetuximab-MMAE. In a xenograft model, PBS293-MMAE achieved significantly higher dose-dependent tumour growth inhibition and sustained tumour suppression compared to cetuximab-MMAE. Reduced skin toxicity: PBS293-MMAE demonstrated substantially lower cytotoxicity in normal human keratinocytes (skin cells) compared with cetuximab-MMAE, further supporting its tumour-selectivity potential. Detailed results were presented at the 16th World ADC London Summit in a poster entitled: Hybrid Avidity–Gated EGFR/EphA2 Bispecific ADC Enables Tumour Selectivity and Keratinocyte Sparing. The poster can be accessed on the Promatix website here. About PBS293-MMAE PBS293-MMAE is a full IgG1 cis-bispecific antibody–drug conjugate (ADC) targeting EGFR and EphA2 in development for advanced colorectal cancer (CRC). The programme has the potential to address a major unmet need in metastatic CRC. While monoclonal antibodies targeting EGFR, such as cetuximab, are effective in only about 15% of patients[1], PBS293-MMAE is designed to address a broader patient population, independent of RAS/BRAF mutation status and including right-sided colorectal tumours, for which current treatments are ineffective. About Promatix Biosciences Ltd Promatix is a UK-based oncology drug discovery and development company developing next-generation bispecific antibody–drug conjugates (ADCs) through rational, data-driven cis-target pairing. The company’s approach centres on identifying optimal combinations of cancer surface markers for cis-bispecific “AND-gate” targeting, in which strong binding, payload delivery and uptake occur only when two distinct antigens are present on the same tumour cell. This dual-antigen engagement is designed to enhance tumour selectivity. By exploiting hybrid avidity, Promatix aims to reduce on-target off-tumour toxicity and expand the range of targets that can be addressed with ADCs. At the core of the platform is TxPro, a comprehensive tumour surface proteomics database covering membrane proteins across multiple cancer types. TxPro is supported by proprietary computational analytics (CipherPro) to systematically mine tumour-selective antigen pairs, affinity-engineering capabilities (AviPro) to optimise bispecific engagement, and BiPro, a modular functional validation framework for rapid evaluation and lead selection. Promatix is developing a pipeline of novel bispecific ADCs in colorectal cancer and additional solid tumour indications. For more information, visit www.pro-matix.com and follow us on LinkedIn. CONTACT INFORMATION: MEDIA CONTACT: In the US: [1] Martinelli E, De Palma R, Orditura M, De Vita F, Ciardiello F. Anti-epidermal growth factor receptor monoclonal antibodies in cancer therapy. Clin Exp Immunol. 2009 Oct;158(1):1-9. doi: 10.1111/j.1365-2249.2009.03992.x. PMID: 19737224; PMCID: PMC2759052.
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Galenica focuses Bichsel’s business on home care services
Bichsel, a manufacturer of pharmaceutical products and home care service provider based in Interlaken, plans to discontinue its production division by the end of 2026 at the latest. The reason for this is the lack of competitiveness of this specialist business. Various measures to increase profitability have not had a sufficient impact in recent years. In addition to the closure, Galenica examined various scenarios for production at its subsidiary, including a realignment of the business area in connection with significant investments, including construction of new facilities. None of the scenarios could enable production to be operated sustainably in the long term. Due to the condition of the plant, a sale is not possible either. In connection with the possible closure of production, supply has top priority. Bichsel will continue to supply its customers during the transition phase and support them in their search for alternative suppliers.
Focus on home care services
Galenica is sharpening the strategic focus of its subsidiary Bichsel and aligning its business activities on home care services. In doing so, Galenica is taking a further step in the consistent implementation of its strategy, which focuses on integrated healthcare and services. With over 50 years of experience, Bichsel will focus on the continuous further development and expansion of its home care business in the future.
In October 2025, HomeCare Bichsel and Lifestage Solutions combined their expertise under joint management (see Information dated 17 October 2025). Together, the two companies in the Galenica network support home care organisations and care homes throughout Switzerland in providing care and support to patients in their own homes. Bichsel contributes experience in clinical nutrition and pain therapy, while Lifestage Solutions’ digital platform simplifies ordering and billing for care materials and digital medication management.
Galenica is also committed to Bichsel’s pharmacy business in line with its strategy: “Grosse Apotheke Dr. G. Bichsel” in Interlaken will become “Amavita Apotheke Bichsel Interlaken” from 1 March 2026 and will continue to serve its customers.
Social plan and close support for employees
As a result of the planned production closure, Galenica expects up to 170 jobs in production and sales at Bichsel to be affected by the end of 2026 at the latest. The consultation process has been initiated. Galenica will closely support its employees in this challenging phase, mitigate the impact as effectively as possible and assume its social responsibility.
If redundancies are unavoidable, a social plan will be implemented that will provide financial support as well as career guidance and include provisions for cases of hardship. Opportunities for continued employment within the Galenica network are also being examined. The consultation process is expected to be completed in mid-March 2026. The final decision on the closure and the definitive number of affected positions will depend on the outcome of the consultation process.
Financial impact at Group level
In the event of the closure of Bichsel’s production division, the Galenica Group expects one-off special costs of CHF 35–40 million, which will arise in particular in the first half of 2026, of which CHF 17-19 million is attributable to value adjustments to inventories, manufacturing plants and other tangible assets. The discontinuation of the business area would improve the adjusted EBIT1 of the Galenica Group by around CHF 3 million per year following its closure at the end of 2026. Bichsel has been part of the Galenica network since 2019.
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1 Excluding the effects of IFRS 16 and IAS 19 as well as acquisition-related depreciation associated with Labor Team.
Sandoz confirms European Commission approval for Ranluspec® (ranibizumab), further strengthening overall biosimilars leadership and position in ophthalmology
- Biosimilar Ranluspec approved by European Commission for treatment of neovascular (wet) age-related macular degeneration (nAMD) and other retinal vascular disorders
- Around four million people across key global markets live with nAMD; between 20% and 35% of people with diabetes in Europe will develop diabetic retinopathy
- Launch expected second half of 2026; potential to expand access to life-changing treatment option for European patients
Basel, February 23, 2026 – Sandoz (SIX:SDZ/OTCQX:SDZNY), the global leader in affordable medicines, today confirmed that the European Commission has granted marketing authorization for Ranluspec1. Ranluspec is developed, manufactured and registered by Lupin and was approved based on the review of a comprehensive data package.
Ranluspec is indicated for the treatment of neovascular (wet) age-related macular degeneration (nAMD), visual impairment due to diabetic macular edema, proliferative diabetic retinopathy, visual impairment due to macular edema secondary to retinal vein occlusion and visual impairment due to choroidal neovascularization. Ranluspec has equivalent efficacy and comparable safety to its reference medicine, Lucentis®*2.
Around four million people are estimated to have neovascular age-related macular degeneration in France, Germany, Italy, Spain, the UK, the US and Japan3, and between 20% and 35% of people with diabetes in Europe will develop diabetic retinopathy4. The approval paves the way for an expected launch of Ranluspec in the second half of 2026.
Claire D’Abreu-Hayling, Chief Scientific Officer, Sandoz, said: “Retinal diseases, including nAMD, place a significant burden on millions of patients, families and caregivers in Europe. The approval of Ranluspec reinforces our commitment to expanding the availability of high‑quality biosimilars and transforming healthcare by ensuring that patients can access these life‑changing treatments.”
Today’s announcement builds on the continuing leadership and pioneering legacy Sandoz has established in biosimilars, which began with the introduction of the first biosimilar, Omnitrope® (somatropin), in 2006. It strengthens the company’s position in ophthalmology, following the launch of Afqlir® (aflibercept) in Europe in 2025 and also represents another step towards the overall Sandoz strategic objective of capitalizing on a projected ~USD 320 billion biosimilar-market opportunity over the next 10 years5.
Sandoz and Lupin announced a commercial partnership in August 2025 for the development and commercialization of a ranibizumab biosimilar. Under the terms of the agreement, Sandoz holds exclusive commercialization rights for Ranluspec across the European Union, excluding Germany, and semi-exclusive rights in France. Sandoz is commercializing Epruvy® (ranibizumab) in Germany under a separate agreement.
* Lucentis® is a registered trademark of Genentech Inc.
DISCLAIMER
This Media Release contains forward-looking statements, which offer no guarantee with regard to future performance. These statements are made on the basis of management’s views and assumptions regarding future events and business performance at the time the statements are made. They are subject to risks and uncertainties including, but not confined to, future global economic conditions, exchange rates, legal provisions, market conditions, activities by competitors and other factors outside of the control of Sandoz. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. Each forward-looking statement speaks only as of the date of the particular statement, and Sandoz undertakes no obligation to publicly revise any forward-looking statements, except as required by law.
REFERENCES
1 European Medicines Agency (EMA). Ranluspec® (ranibizumab): Product Details. Available from: https://www.ema.europa.eu/en/medicines/human/EPAR/ranluspec [Last accessed: February 2026]
2 European Medicines Agency (EMA). Lucentis® (ranibizumab): Prescribing Information. Available from: https://www.ema.europa.eu/en/medicines/human/EPAR/lucentis [Last accessed: February 2026]
3 DRG Clarivate Landscape and Forecast. Dry and Wet Age-Related Macular Degeneration. Report December 2024
4 Eye disease (2024) IDF Europe Site. Available at: https://idf.org/europe/life-with-diabetes/diabetes-related-complications/eye-disease/ [Last accessed: February 2026]
5 Covers US and EU markets (2026–2035). Originator sales and LoE based on internal analysis of data from multiple subscription databases. Biosimilar data accessed in September 2025
ABOUT SANDOZ
Sandoz (SIX: SDZ; OTCQX: SDZNY) is the global leader in affordable medicines, with a growth strategy driven by its Purpose: pioneering access for patients. More than 20,000 people of 100 nationalities work together to ensure 900 million patient treatments are provided by Sandoz, generating substantial global healthcare savings and an even larger social impact. Its leading portfolio of approximately 1,300 products addresses diseases from the common cold to cancer. Headquartered in Basel, Switzerland, Sandoz traces its heritage back to 1886. Its history of breakthroughs includes Calcium Sandoz in 1929, the world’s first oral penicillin in 1951 and the world’s first biosimilar in 2006. In 2024, Sandoz recorded net sales of USD 10.4 billion.
CONTACTS
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Global Media Relations contacts |
Investor Relations contacts |
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Alexis Kalomparis |
Craig Marks +44 7818 942 383 |
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Chris Lewis +49 174 244 9501 |
Tamara Hackl +41 79 790 5217 |
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Gregor Rodehueser +49 170 574 3200 |
Silvia Siegfried +41 79 795 9061 |
DocMorris receives TÜV certification for temperature-controlled delivery of pharmaceuticals
TÜV Rheinland has extended the existing ISO 9001 certification of the DocMorris quality management system for the procurement and shipment of prescription, pharmacy-only, and over-the-counter pharmaceutical products to include temperature-controlled delivery of medicines that require refrigeration. As part of an audit, both the documentation and the activities on site were checked for compliance with the specifications. TÜV Rheinland analysed the entire transport process, from picking the products to delivery to the end customer via special carriers. DocMorris meets all the necessary requirements, so the existing cold chain process was audited and certified.
Strict requirements apply to the packaging, transport, and delivery of pharmaceuticals, which all pharmacies must meet when shipping them to or within Germany. In addition, there are legal requirements for maintaining specific temperature ranges for selected medicines. Medicines that require refrigeration must be stored and transported in a temperature range of 2 to 8 degrees Celsius. For most other medicines, normal ambient temperatures of 15 to 25 degrees Celsius are sufficient. DocMorris has been implementing the necessary operational measures for years and meets quality standards that exceed the legal requirements currently in force in Germany.
In DocMorris’ fully air-conditioned logistics centre, all pharmaceuticals are always stored under controlled temperature conditions. In addition, storage, packaging, and transport are monitored in a multi-stage system. Medicines that require refrigeration are always transported directly to the customer in refrigerated trucks belonging to a specialist service provider, with the appropriate documentation. Even preparations that do not require continuous refrigeration are protected from extreme temperatures during transport if necessary. To this end, DocMorris uses a special temperature screening system: once a delivery is ready for dispatch, an automatic web service checks the weather conditions along the package’s route. If very high temperatures are expected in summer or very cold temperatures in winter, the package is additionally insulated or provided with cooling elements.
The extended ISO 9001 certification by TÜV Rheinland once again confirms DocMorris’ high-quality standards in the shipment of pharmaceuticals.
Further information on certification can be found at: ID-Nr. 0000040681: DocMorris N.V. – Certipedia
Media contact DocMorris
Torben Bonnke, Director Communications
Email: media@docmorris.com
Phone: +49 171 864 888 1
DocMorris
DocMorris stands for customer-centred, innovative services and a wide range of digital healthcare products. These range from quickly making appointments to see a doctor online on the TeleClinic telemedicine platform to pharmaceutical advice and the supply of prescription and over-the-counter medicines and healthcare products from Germany’s best-known online pharmacy. In addition, there is the marketplace with a broad complementary range of remedies and aids as well as products from the areas of nutrition, beauty and family. DocMorris thus provides its customers with easy access to comprehensive healthcare services in one place with just one click. In the Germany segment, the Swiss company DocMorris AG generated external sales of CHF 1,122.6million in 2025 with 11 million active customers.
Siegfried delivers strong profitability and continued growth
Media Release
Zofingen, February 20, 2026
Ad hoc announcement pursuant to Art. 53 Listing Rules
For 2025, Siegfried (SIX: SFZN) reported a strong financial performance, delivering across all key financial metrics. Continued profitable growth was driven by disciplined execution and operational efficiency, despite ongoing macroeconomic volatility and currency headwinds. Execution of the EVOLVE+ strategy remains well on track, resulting in growing momentum in inbound customer inquiries and the strategic acquisition of high-quality small molecule drug substance capacity in the US.
Marcel Imwinkelried, Chief Executive Officer: “In 2025, Siegfried accelerated profitable growth and further strengthened our position through disciplined execution of our EVOLVE+ strategy. Limited visibility around the pending customer confirmation for a large contract could impact sales growth in Drug Substances in 2026 and in order to reflect this we have taken a conservative approach to our guidance. With strong commercial momentum and the strategic expansion of our US drug substance platform, we have significantly enhanced our capabilities and are well positioned to capture the long-term growth opportunities ahead. There is a strong momentum in Drug Products delivering strong growth, and we reiterate our positive mid-term outlook of profitable above market growth.”
Net sales increased to CHF 1,327.8 million, representing a year-on-year growth of 2.6% in CHF. At constant exchange rates, growth amounted to 4.3%. The distribution of net sales throughout the year reflected a more pronounced seasonality with 46.7% of net sales generated in the first half and 53.3% in the second half of the year. There was once again a stronger contribution towards the end of the year, which was made possible through the strong execution capabilities of the organization.
The Drug Substances cluster contributed CHF 916.3 million, an increase of 4.3% in local currencies (2.7% in CHF). Net sales in Drug Products increased by 4.3% in local currencies (2.2% in CHF) to CHF 411.6 million, with continued momentum particularly at the Barcelona sites. Across both clusters, diversification in customers and products remained high. More than 90% of revenues were derived from commercial-phase products, while the top ten products continued to account for roughly one third of total revenues. Approximately 60% of revenues were generated from small- and mid-cap pharmaceutical companies and around 40% from large pharma.
As a result of ongoing portfolio optimization and strong impact from operational excellence, profitability further improved. Core gross profit increased to CHF 354.0 million, resulting in a core gross profit margin of 26.7%, exceeding the previous year’s level of CHF 329.1 million and a margin of 25.4%.
Core EBITDA reached CHF 312.3 million, an increase of 9.3%, while core EBIT rose to CHF 217.5 million (+8.3%). Core net profit increased to CHF 162.1 million, reflecting Siegfried’s strong earnings quality and operating leverage. Corresponding margins reached new record levels, with a core EBITDA margin of 23.5%, core EBIT margin of 16.4%, and core net profit margin of 12.2%.
Operating cash flow amounted to CHF 228.2 million. The continued focus on net working capital efficiency was partially offset by timing effects in revenue recognition late in the year.
Siegfried continued to invest decisively in its future. Investments in property, plant and equipment amounted to CHF 211.9 million, representing 16.0% of net sales. Free cash flow amounted to negative CHF 3.1 million (CHF -11.6 in 2024).
At year-end, Siegfried held CHF 103.1 million in cash and cash equivalents. Financial liabilities totalled CHF 575.2 million, resulting in net debt of CHF 472.1 million. The net debt-to-core EBITDA ratio stood at 1.5, underlining the Group’s solid balance sheet and financial flexibility, which will remain also after the financing of the acquisition completed later in the year 2026.
At the Annual General Meeting on April 16, 2026, the Board of Directors will propose par value repayment of CHF 0.40 per share, a payout increase of CHF 0.02 per share, reflecting Siegfried’s strong financial performance and commitment to shareholder returns.
Increased commercial momentum
The execution of the EVOLVE+ strategy, particularly within the Commercial Excellence pillar, delivered continued significant progress in 2025. The number of Requests For Proposals for innovative drug substance business increased by 30%, while the number of projects won rose by 31% across both clusters. A further milestone was the award of a landmark project at the Barberà del Vallès site for a complex oral solid dosage product involving an emerging mechanism of action. In addition, an API contract for the same mechanism of action was secured, demonstrating Siegfried’s ability to deliver drug substances as well as drug products for complex therapies at the forefront of scientific progress.
Targeted technology upgrades to capture growth opportunities
In line with its EVOLVE+ strategy, Siegfried continued to make targeted technology investments to capture future growth opportunities. In response to strong customer demand at its ophthalmic site in El Masnou, Siegfried is expanding sterile eye drop production alongside the ongoing expansion of the sterile ophthalmic ointments manufacturing line. In Barberà del Vallès, the company is strengthening its spray drying capabilities, while in Hameln the expansion of fill-finish operations is progressing as planned. Beyond these capacity expansions, Siegfried commenced the transfers of the first products to its new high-volume drug substance plant in Minden, and DINAMIQS inaugurated its new manufacturing facility for viral vectors in Schlieren.
Together, these milestones demonstrate the disciplined execution of EVOLVE+ and reinforce Siegfried’s commitment to building differentiated capabilities that serve customers’ long-term needs.
Strategic acquisition strengthens long-term growth platform
In January 2026, Siegfried announced the acquisition of high-quality small molecules drug substance manufacturing capacity in the United States and Australia, representing a major strategic milestone for the Group. This acquisition significantly strengthens Siegfried’s US footprint, expands its technological capabilities, and enhances access to attractive customer segments in the world’s largest pharmaceutical market. The transaction represents a strong strategic fit and will form a key pillar for sustained profitable growth and value creation in the years ahead.
Changes in Siegfried’s leadership team
To strengthen Siegfried’s positioning as an integrated supplier in line with the EVOLVE+ strategy, Siegfried will consolidate the Chief Operating Officer roles currently split between Drug Substances and Drug Products into one position. In this context, Henrik Krüpper will be stepping down from his responsibilities as Chief Operating Officer Drug Substances to pursue opportunities outside the company, effective March 1, 2026. Stefan Randl has been appointed ad interim Chief Operating Officer Drug Substances in addition to his role as Chief Scientific Officer until a Chief Operating Officer is appointed.
Outlook for 2026 (excluding acquisitions)
For 2026, Siegfried expects different growth dynamics across its two clusters. For the Drug Products cluster, Siegfried anticipates growth in the high-single-digit percentage range in local currencies. In the Drug Substance cluster, the near-term outlook is under review because visibility remains limited due to outstanding final customer confirmation for one product. As a prudent assumption for the purpose of this guidance, Siegfried expects low-single-digit percentage growth in local currencies. As a result, for the Group, Siegfried expects low-single-digit percentage growth in local currencies.
Profitability is expected to remain resilient, and Siegfried continues to target a core EBITDA margin above 23%. New guidance for 2026, including the impact of the acquisition, will be provided upon closing of the transaction.
Positive mid-term outlook confirmed: Continued profitable growth above market (excl. M&A).
BioVersys and partners’ phase 2a tuberculosis trial results published in New England Journal of Medicine
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Basel, Switzerland, February 19, 2026, 7am CET
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- Data from Phase 2a study demonstrated the first clinical proof of concept for alpibectir in combination with ethionamide (AlpE) in the treatment of patients with tuberculosis.
- The results, published in the prestigious New England Journal of Medicine, underscore the significant potential of AlpE to shape the future of TB treatment.
BioVersys AG (SIX: BIOV), a multi-asset, clinical stage biopharmaceutical company focusing on research and development of novel antibacterial products for serious life-threatening infections caused by multidrug-resistant (MDR) bacteria, announced today the publication of promising clinical proof of concept results in the prestigious New England Journal of Medicine from the Phase 2a clinical trial of AlpE in patients with pulmonary TB.[1]
Tuberculosis is one of the leading causes of death by infectious diseases globally, and many existing treatments are becoming less effective due to growing drug resistance. Alpibectir, a small molecule acting through a novel mode of action, represents a totally new concept of overcoming resistance by potentiating the activity of an existing antibiotic, ethionamide (Eto), and was identified in a successful public-private collaboration with GSK, the Pasteur Institute of Lille and the University of Lille.
The Phase 2a bEto-TB clinical trial was conducted in South Africa through a consortium of three partners, TASK, GSK and BioVersys, and was completed in April 2024. AlpE delivered a promising clinical proof of concept in a 7-day early bactericidal activity (EBA) study, conducted in patients with pulmonary tuberculosis. AlpE seeks to offer a replacement for isoniazid (INH) in the current first-line regimen or to be added as a novel bactericidal drug to future regimens including those of TB meningitis.
The clinical development of AlpE has been strongly supported by several European Union grants and public private partnerships, including the EU Innovative Medicines Initiative 2 (IMI2), TRIC-TB project and UNITE4TB project, and the European & Developing Countries Clinical Trials Partnership (EDCTP2 programme), bEto-TB project.
Dr. Glenn Dale, Chief Development Officer of BioVersys: “We are very pleased to see the favorable safety, tolerability and pharmacokinetics profile of AlpE, and even more so for the promising signals of efficacy delivered from this Phase 2a clinical trial. These data give us real encouragement for the further Phase 2 studies in UNITE4TB, run by our partner GSK, where AlpE is being studied in combination with first line TB drugs. We are also excited as we plan to initiate a Phase 2 trial in meningeal TB later this year.”
Michelle Nderu, Project Officer, EDCTP Association: “The bEto-TB trial demonstrates the power of sustained investment in global health research. The development of AlpE reflects not only scientific innovation but also the strength of collaborative partnerships. With support from EDCTP2, these results bring us a step closer to delivering shorter, safer and more effective treatment options for people living with TB.”
Prof. Andreas Diacon, Founder and Chief Scientist at TASK: “At TASK we are grateful to our study participants whose collaboration allows yet another novel antibiotic to move a step forward. This study has shown that ethionamide, an established, low-cost and safe antibiotic, becomes more potent and better tolerated by the addition of alpibectir. The AlpE combination is now on its way to become part of drug combinations that treat tuberculosis patients with and without resistance to other drugs, and it appears particularly suitable for patients with tuberculosis meningitis where better treatments are direly needed.”
Dr. David Barros-Aguirre, Head of Global Health Medicines R&D, GSK: “TB remains one of the world’s deadliest infectious diseases, and tackling drug resistance is one of the biggest challenges we face. That’s why innovation is essential. The Phase 2a results for AlpE mark an exciting step forward, demonstrating the potential of novel approaches to strengthen existing therapies. We are proud to collaborate with BioVersys, TASK and partners, to advance research aimed at transforming TB care for patients globally, particularly in lower-income countries where the disease remains most prevalent.”
About bEto-TB
This project brings a new anti-TB molecule, BVL-GSK098, to the current drug armamentarium. BVL-GSK098 greatly augments the activity of, and overcomes resistance to, the well-established second line drug Eto at a lower and well-tolerated dose. The objectives of this consortium are to determine the early bactericidal activity (EBA) of the combination of BVL-GSK098 and various doses of Eto. We will also evaluate the comparative anti-TB activity of bEto to that of standard dose INH and thus explore the potential for bEto as a replacement of INH in the current first-line regimen or to add a novel bactericidal drug to future regimens. The programme has previously received funding from the EU IMI 2 JU (TRIC-TB) and the Wellcome Trust.
Project description website: https://taskclinical.com/beto-tb/
Statements or views expressed in this release are those of the respective organizations or persons and the European & Developing Countries Clinical Trials Partnership is not responsible for any use of the information contained herein.
About tuberculosis (TB)
Tuberculosis (TB) remains one of the leading causes of death worldwide. It is caused by the bacterial pathogen Mycobacterium tuberculosis (Mtb). According to the WHO Global Tuberculosis Report 2025, an estimated 10.7 million people developed TB in 2024, and approximately 1.23 million died from TB.
Drug resistance continues to pose a major challenge. There were about 390,000 people who developed rifampicin-resistant TB (RR-TB) or multidrug-resistant TB (MDR-TB) in 2024. MDR-TB remains a public health crisis and a health security threat, with global treatment success rates at only 71%.
The major burden of TB is concentrated within 30 high TB burden countries, accounting for 87% of the global total in 2024. Of those, the top eight countries for TB cases worldwide were, India (25%), Indonesia (10%), the Philippines (6.8%), China (6.5%), Pakistan (6.3%), Nigeria (4.8%), the Democratic Republic of the Congo (3.9%) and Bangladesh (3.6%). Globally, 8.3 million people were reported as newly diagnosed with TB in 2024, Significantly, it remains that 3.2% of new TB cases and 16% of previously treated cases are MDR/RR-TB.
About EDCTP
The vision of the European & Developing Countries Clinical Trials Partnership (EDCTP) is to reduce the individual, social, and economic burden of poverty-related infectious diseases in sub-Saharan Africa. EDCTP funds collaborative clinical research that accelerates the development of accessible, suitable, and affordable medical interventions (drugs, vaccines, and diagnostics) to identify, prevent or treat infectious diseases, including emerging and re-emerging diseases. EDCTP’s approach integrates research with the development of African clinical research capacity and networking. EDCTP2 is supported by the European Union under Horizon 2020, its Framework Programme for Research and Innovation. For more information, visit www.edctp.org.
About TASK
TASK is a social enterprise committed to developing, testing, and progressing novel medicines, vaccines, and diagnostics in various medical therapeutic areas, most notably in anti-tuberculosis drugs, aimed at improving global health care. Since its inception in 2005, TASK has grown exponentially and diversified into six distinct independent clinical research sites; a mycobacteriology bio-safety level 3 laboratory; a phase I to II clinical trial hospital with twenty-four beds; two registered dispensing pharmacies; a data management centre; regulatory, quality control and compliance office and a clinical research training academy. Over the last 15 years TASK has completed multiple research projects, many of global significance, and contributed to progressing the scientific field of TB medicine and vaccine development, most notably with early bactericidal activity (EBA) studies and clinical trials that in part led to the registration of bedaquiline. Find us at https://taskclinical.com/ and follow us on Twitter @taskapplied.
About BioVersys
BioVersys AG is a multi-asset, clinical stage biopharmaceutical company focused on identifying, developing and commercializing novel antibacterial products for serious life-threatening infections caused by multi-drug resistant (“MDR”) bacteria. Derived from the company’s two internal technology platforms (TRIC and Ansamycin Chemistry), candidates are designed and developed to overcome resistance mechanisms, block virulence production and directly affect the pathogenesis of harmful bacteria towards the identification of new treatment options in the antimicrobial and microbiome fields. This enables BioVersys to address the high unmet medical need for new treatments against life-threatening resistant bacterial infections and bacteria-exacerbated chronic inflammatory microbiome disorders. The company’s most advanced research and development programs address nosocomial infections of Acinetobacter baumannii (BV100, Phase 3), and tuberculosis (alpibectir, Phase 2, in collaboration with GlaxoSmithKline (GSK) and a consortium of the University of Lille, France). BioVersys is located in the biotech hub of Basel, Switzerland.
BioVersys contact
Hernan Levett, CFO, Tel. +41 61 633 22 50; Mail: hernan.levett@bioversys.com
For media: media@bioversys.com Website: www.bioversys.com
The bEto-TB project (grant reference: RIA2019AMR-2657) is part of the EDCTP2 programme supported by the European Union.
Disclaimer
This communication expressly or implicitly contains certain forward-looking statements, such as “believe”, “assume”, “expect”, “forecast”, “project”, “may”, “could”, “might”, “will” or similar expressions concerning BioVersys and its business, including with respect to the progress, timing and completion of research, development and clinical studies for product candidates. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of BioVersys to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. BioVersys is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.
[1]The Revival of Ethionamide by Alpibectir (BVL-GSK098), Michel Pieren et al, 2026; https://www.nejm.org/doi/full/10.1056/NEJMc2504287
Straumann Group delivers strong 2025 performance with continued market share gains, innovation and strategic progress
|
All figures refer to continuing operations in CHF million / |
FY 2025 |
FY 2024 |
||
|
|
IFRS |
CORE1 |
IFRS |
CORE1 |
|
Revenue |
2 605 |
2 605 |
2 504 |
2 504 |
|
Change CHF Change (CER2) Change organic |
|
4.1% |
|
10.0% |
|
|
8.9% |
|
15.0% |
|
|
|
8.9% |
|
13.7% |
|
|
Gross profit |
1 787 |
1 826 |
1 783 |
1 788 |
|
Margin |
68.6% |
70.1% |
71.2% |
71.4% |
|
Margin change CHF |
|
(130bps) |
|
(310bps) |
|
Margin change (CER2) |
|
(50bps) |
|
(240bps) |
|
EBITDA |
738 |
797 |
747 |
779 |
|
Margin |
28.3% |
30.6% |
29.8% |
31.1% |
|
Margin change CHF |
|
(50bps) |
|
(190bps) |
|
Margin change (CER2) |
|
70bps |
|
(70bps) |
|
EBIT |
549 |
655 |
601 |
650 |
|
Margin |
21.1% |
25.2% |
24.0% |
26.0% |
|
Margin change CHF |
|
(80bps) |
|
(200bps) |
|
Margin change (CER2) |
|
50bps |
|
(70bps) |
|
Net result |
358 |
478 |
459 |
502 |
|
Margin |
13.7% |
18.3% |
18.4% |
20.0% |
|
Margin change CHF |
|
(170bps) |
|
(110bps) |
|
Basic EPS (in CHF) |
2.24 |
2.99 |
2.87 |
3.14 |
|
Dividend (in CHF) |
1.00 |
|
0.95 |
|
|
Free cash flow |
290 |
|
373 |
|
|
Margin |
11.1% |
14.9% |
||
|
Headcount (end of December) |
11 821
|
|
11 815
|
|
1 The “core” figures in this document exclude M&A effects from purchase-price allocation (PPA) amortization and related changes of contingent
considerations, impairments, restructuring expenses, legal cases, consolidation result of former associates, and other non-recurring incidents. Details and a reconciliation of the reported and core income statement are provided on pages 6 ff
2 Constant exchange rate (CER) equals prior-year figures at 2025 currency exchange rates
Basel, February 18, 2026: For the full year 2025, Straumann Group reported revenue of CHF 2.6 billion, representing 8.9% organic growth, or 4.1% growth in Swiss francs, reflecting strong underlying demand and continued market share gains across its global footprint. In the fourth quarter of 2025, revenue grew 7.0% organically to CHF 655.0 million, confirming the solid underlying momentum of the business.
Regional performance highlighted the strength and resilience of the Group’s diversified offering. Europe, Middle East and Africa (EMEA) delivered very strong and broad-based growth, while North America (NAM) showed very solid performance in a still challenging macroeconomic environment, with continued sequential improvement over the course of the year. Asia Pacific (APAC) excluding China delivered solid growth, while the market in China remained impacted by a softer patient flow and cautious distributor behavior during the second half of the year, due to the upcoming next cycle of the volume-based procurement (VBP 2.0) process. Latin America (LATAM) maintained its strong momentum and continued to contribute double-digit revenue growth.
Growth in 2025 was driven by strong execution across all business areas, including premium and challenger implantology brands, orthodontics and digital solutions.
In implantology, the successful global rollout of the iEXCEL system further strengthened the Group’s innovation and market position. In digital, the launch of the intraoral scanner SIRIOS X3 and the continued expansion of connected workflows within the Straumann AXS cloud-based platform supported broader adoption and reinforced the Group’s strategic positioning. In orthodontics, strategic progress continued with ClearCorrect, supported by new partnerships that enhance innovation, focus and operational efficiency.
These growth drivers were complemented by extensive education activities, with more than 10 700 programs delivered and over 370 000 professionals trained worldwide, supporting adoption, customer success and long-term relationships.
Efficiency gains, disciplined operational expenditure (OPEX) measures and active cost management, combined with the ability to weather tariff impacts and currency headwinds, translated strong revenue growth into a core EBIT margin of 26.5% at constant 2024 exchange rates, at the upper end of the guidance, or 25.2% including currency impact.
Guillaume Daniellot, Chief Executive Officer, commented: “2025 was a year of strong performance and execution for all of us. It was a demanding year for our industry and our culture proved to be a clear differentiator. High employee engagement, with a score of 80, combined with a strong entrepreneurial mindset across the organization, enabled our teams to move fast, adapt, and make a meaningful difference for our customers every day. We continued to gain additional market share and delivered robust growth while continuing to advance our strategy with focus and entrepreneurial speed. This ability to execute and to act decisively enables us to capture growth opportunities even in volatile conditions.
At the same time, we are making strong progress in our strategic transformation, moving from a product- to a service-led business.
I would like to thank our customers for their trust and our colleagues worldwide for their outstanding commitment and contribution to this journey.”
REgional Performance in the fourth quarter
EMEA – very strong, broad-based growth in the Group’s largest region
Revenue in EMEA reached CHF 299.9 million in the fourth quarter of 2025, representing 15.3% organic growth. The region delivered a strong and broad-based performance, supported by robust momentum in Germany and Austria, an outstanding contribution from Benelux, continued strong execution in Iberia, as well as strong growth in Eastern Europe and Middle East region. Growth was driven by solid demand across premium and challenger implantology brands, increasing adoption of digital solutions and sustained customer engagement through education and training initiatives. Orthodontics also contributed positively to growth, supported by continued traction of ClearCorrect and strong engagement with general practitioners across the region.
NAM – resilient performance with sequential improvement in a challenging environment
Revenue in NAM amounted to CHF 170.3 million in the fourth quarter of 2025, delivering 6.8% organic growth in a still uncertain macroeconomic environment and reflects the continuous improvements in this region. Performance improved sequentially, supported by resilient demand in implantology, solid growth in digital solutions and continued momentum in the dental service organization (DSO) segment. In premium implantology, especially with iEXCEL, Straumann Group gained market share, demonstrating the strength of its value proposition in a competitive environment.
APAC – China impacted by VBP phasing, solid underlying momentum ex China
APAC reported revenue of CHF 123.9 million in the fourth quarter of 2025, with organic revenue declining by 12.8%, primarily reflecting a slower patient flow in China due to the delayed volume-based procurement (VBP 2.0) process as well as destocking of the distributors. For the full year, organic revenue growth excluding China amounted to 10.2%, highlighting the solid underlying momentum across the region. Strong momentum was recorded in India, Japan and Southeast Asia, supported by challenger implant brands, digital workflow adoption and sustained education activities. In China, market conditions remained impacted by delayed VBP-related processes and distributor destocking. At the same time, the ongoing ramp-up of the Shanghai manufacturing campus strengthens local production capabilities and supply chain resilience, supporting improved service levels and structural margin potential over time.
LATAM – Sustained double-digit growth and capacity expansion
LATAM delivered revenue of CHF 60.8 million in the fourth quarter of 2025, representing 20.0% organic growth. Growth was broad-based, driven by strong momentum in Brazil and continued solid performance across Hispanic markets. Implants remained a key growth driver, mainly through Neodent and growth of premium share, complemented by increasing adoption of digital workflows and continued progress in orthodontics. In parallel, the construction of a third production facility in Curitiba, Brazil, further strengthens local manufacturing capabilities and supports future growth and cost efficiency over the medium term.
|
REVENUE BY REGION |
Q4 2025 |
Q4 2024 |
FY 2025 |
FY 2024 |
|
Figures refer to continuing operations, |
|
|
|
|
|
Europe, Middle East & Africa (EMEA) |
299.9 |
265.0 |
1 084.2 |
1 001.0 |
|
Change CHF |
13.2% |
11.4% |
8.3% |
9.0% |
|
Change (CER1) |
15.3% |
13.8% |
11.2% |
14.0% |
|
Change organic |
15.3% |
12.3% |
11.2% |
11.3% |
|
% of Group total |
45.8 |
41.1 |
41.6 |
40.0 |
|
|
|
|
|
|
|
North America |
170.3 |
175.0 |
687.7 |
697.0 |
|
Change CHF |
(2.7%) |
3.8% |
(1.3%) |
1.2% |
|
Change (CER1) |
6.8% |
3.3% |
4.2% |
3.6% |
|
Change organic |
6.8% |
3.3% |
4.2% |
3.6% |
|
% of Group total |
26.0 |
27.1 |
26.4 |
27.8 |
|
|
|
|
|
|
|
Asia Pacific |
123.9 |
153.6 |
599.7 |
588.4 |
|
Change CHF |
(19.3%) |
18.0% |
1.9% |
27.7% |
|
Change (CER1) |
(12.8%) |
19.7% |
7.3% |
34.4% |
|
Change organic |
(12.8%) |
18.9% |
7.3% |
33.3% |
|
% of Group total |
18.9 |
23.8 |
23.0 |
23.5 |
|
|
|
|
|
|
|
Latin America |
60.8 |
51.6 |
233.7 |
217.4 |
|
Change CHF |
17.9% |
(2.0%) |
7.5% |
4.3% |
|
Change (CER1) |
20.0% |
17.1% |
18.3% |
15.6% |
|
Change organic |
20.0% |
17.1% |
18.3% |
15.6% |
|
% of Group total |
9.3 |
8.0 |
9.0 |
8.7 |
|
|
|
|
|
|
|
GROUP |
655.0 |
645.2 |
2 605.4 |
2 503.9 |
|
Change CHF |
1.5% |
9.5% |
4.1% |
10.0% |
|
Change (CER1) |
7.0% |
12.3% |
8.9% |
15.0% |
|
Change organic
|
7.0%
|
11.5%
|
8.9%
|
13.7%
|
1 Constant exchange rate (CER) equals prior-year figures at 2025 currency exchange rates
STRATEGIC PROGRESS
Transforming from a product- to a service-led growth model
During 2025, Straumann Group made significant progress in executing its company strategy and presented its 2030 ambition together with the strategic plan at the end of the year. Goal is to further accelerate the transformation from a predominantly product-led organization towards a more service-led business model; leveraging digital technology for both the implantology and orthodontic business. At the core of this transformation is the digital open, cloud-based Straumann AXS platform, which unifies products, software and services, providing a connected digital ecosystem, enabling seamless data exchange and integrated end-to-end workflows across the treatment journey.
By enabling end-to-end clinical pathways across implantology, prosthetics and orthodontics, the Group simplifies workflows for customers and improves efficiency, predictability and strengthens long-term customer relationships.
Strengthening leadership in implantology through innovation and multi-brand strategy
Implantology remained the cornerstone of the Group’s performance and strategic positioning in 2025. The continued global rollout of the iEXCEL implant system drove strong momentum, with more than one million implants sold, reinforcing Straumann Group’s leadership in the premium segment.
The Group’s multi-brand strategy, including the geographic expansion of Neodent in the challenger segment, enables Straumann Group to address a broad and still underpenetrated global market. Neodent continues to scale across both established and emerging markets, expanding access to implant treatments and capturing growth opportunities in the challenger segment. Combined with more than 10 700 education activities, more than 370 000 professionals trained and disciplined commercial execution, implantology remains a powerful engine of sustainable growth and continued market share gains. With 42% of education activities in the low- and middle-income countries, the Group is substantially contributing to expand access to care.
Scaling orthodontics through partnerships and digital workflows
In orthodontics, Straumann Group delivered solid growth in 2025, while making strong progress in the transformation of ClearCorrect. The Group executed a focused, innovation-driven strategy designed to support scalable and profitable growth.
The partnership with Smartee strengthens manufacturing scalability, operational efficiency and profitability, while maintaining high clinical standards. At the same time, the integration of DentalMonitoring further enhances the orthodontic offering by enabling remote treatment monitoring, improving patient compliance and supporting predictable treatment outcomes.
Together, these elements position ClearCorrect as a digitally enabled and differentiated orthodontic solution, well aligned with the Group’s broader service-led model.
Intraoral scanners are the entry point to digital workflows – SIRIOS X3 launch gaining momentum
Digital solutions are a central pillar of Straumann Group’s strategic progress, supported by a broad intraoral scanning (IOS) portfolio covering all price points, combined with connectivity, providing an enhanced customer experience.
The launch of SIRIOS X3 in the fourth quarter of 2025 was met with strong customer demand and rapid adoption, translating into very solid sales momentum in the months following the launch. This further strengthened the Group’s digital intraoral scanner offering which is the entry point into the Straumann digital ecosystem.
Integrated digital workflows across diagnostics, planning, manufacturing and treatment execution are increasingly embedded within the Straumann AXS digital platform. By seamlessly connecting devices, software and services, Straumann Group enables efficient, end-to-end workflows that drive productivity, support predictable clinical outcomes and simplify daily practice operations, reinforcing its ambition in leadership in the digital transformation of oral health.
Disrupting digital chairside workflows and prosthetics across the ecosystem
In prosthetics, Straumann Group aims to disrupt the digital chairside workflow by integrating prosthetic solutions into its digital ecosystem.
Developed in partnership with SprintRay, Straumann Signature MIDAS, combined with SIRIOS X3, enables a fully integrated chairside workflow that connects scanning, design and production in one continuous process. Digital solutions such as UN!Q accelerate the design and fabrication of restorations, reducing complexity and improving resource management for dental laboratories. By connecting clinicians and labs through a single digital workflow, Straumann Group enhances efficiency across the ecosystem and unlocks adjacent growth opportunities.
Financial performance
To facilitate a like-for-like comparison, the Group presents core results in addition to the results
reported under IFRS Accounting Standards. In 2025, the following effects (after tax) were defined as non-core items:
- Special items and amortization of acquisition-related intangible assets and changes in the fair value of related contingent considerations, amounting to CHF 48 million
- One-off costs of CHF 40 million resulting from various restructuring measures incurred in all four sales regions, as well as within the production
- Legal costs of CHF 24 million
- An impairment charge of CHF 7 million related to the planned relocation of the Group’s headquarters and the resulting underutilization of the current leased premises.
A reconciliation table and detailed information are provided on page 203 of the Group’s annual report.
Gross profit and margin – strong product mix and scale support margins
Core gross profit amounted to CHF 1.83 billion, resulting in a gross margin of 70.1%. The strong margin performance reflects the Group’s broad geographic footprint and diversified portfolio mix, supported by scale effects and a favorable contribution from recently launched products, including iEXCEL and SIRIOS X3. In addition, the ramp-up of the Shanghai manufacturing campus temporarily impacted margin negatively as operations were scaled up. During 2025, the Group also faced tariff-related impacts, which were partially mitigated through targeted operational adjustments, including supply chain optimization and manufacturing flexibility.
EBIT and net profit – disciplined execution offsets currency headwinds
Core EBIT reached CHF 655.5 million, corresponding to a strong core EBIT margin of 26.5% at constant 2024 exchange rates or 25.2% as reported including currency impact. Profitability benefited from disciplined execution and a broad range of operating expense measures implemented across the organization. These measures reflect the Group’s entrepreneurial approach to cost management, while continuing to invest in strategic priorities. The difference between IFRS-reported and core EBIT reflects non-core items amounting to around 4.1 percentage points at the EBIT margin level, primarily related to production restructuring initiatives, as well as legal cases and costs associated with the planned relocation of the Group’s headquarters to Arlesheim, Switzerland.
Core net profit amounted to CHF 477.8 million, supported by operating leverage and effective cost control, partially offset by foreign exchange effects and continued investments in innovation and growth.
Free cash flow and balance sheet – investing for growth with financial flexibility
Free cash flow amounted to CHF 290.2 million, underpinned by strong operating performance, capital allocation and continued working capital management. Net working capital increased to CHF 426.0 million, mainly reflecting a temporarily higher inventory level as a deliberate measure to mitigate the impact of introduced tariffs. Capital expenditure amounted to CHF 223.5 million, an increase of 33% compared to the previous year, reflecting the Group’s strong growth momentum and high confidence in future demand. Investments were primarily directed towards expanding manufacturing capacity across regions, including the Shanghai campus for APAC and the third production facility for Neodent in Curitiba, as well as further capacity expansions in other key markets. The Group maintained a strong balance sheet and solid liquidity position, providing ample financial flexibility to support organic growth, innovation and strategic initiatives.
Dividend – confidence in cash generation and long-term growth
The Board of Directors proposes a dividend of CHF 1.00 per share (2024: CHF 0.95), reflecting confidence in the Group’s cash generation and long-term outlook. The payout ratio remained at around 33%.
Change in the Board of Directors: Thomas Straumann and Marco Gadola not standing for re-election
Following more than 36 years of distinguished service to the Board, including 12 years as its Chair, Thomas Straumann will step down from his Board mandate at the next Annual General Meeting in April to transition into the role of Honorary Chairman. As the founder of the Straumann Group, he has laid the entrepreneurial, cultural, and strategic foundations of the company and shaped its development over more than three decades. The Board sincerely thanks Thomas Straumann; his vision, values, and long-term commitment have been integral to making Straumann Group what it is today. In his new role, Thomas Straumann will remain closely connected to the company and continue to be available to the Board as a highly valued advisor.
To represent the founder family going forward, the board will propose Sébastien Schatzmann, Thomas Straumann’s son-in-law, to be elected as a Board member. He is a successful young entrepreneur who brings not only deep financial and business expertise but also the spirit of the next generation of leadership. His perspective will be valuable as we continue to innovate, grow, and build the Straumann Group for the future.
In addition, the Board is very pleased to announce that Wolfgang Becker will stand for election as a new member of the Board of Directors. He dedicated 40 years of distinguished service to the Group in various leadership roles, including as Head of our largest region, EMEA, and as a member of the Executive Management Board until June 2024. As a highly respected leader, he consistently role-modeled the Straumann Group culture and, together with his teams, achieved outstanding performance while cultivating a strong industry network and loyal customer base. His deep knowledge of the organization and its markets position him as a highly qualified candidate for the Board.
Marco Gadola has decided not to stand for re-election at the upcoming Annual General Meeting. He has been closely connected to the Straumann Group for many years, serving as CFO and later as highly achieving CEO and, since 2020, as a valued member of the Board of Directors, including as Vice Chair since 2024. The Board expresses its sincere gratitude for his long-standing commitment, outstanding performance and leadership during important phases of the company’s development. We are pleased that Marco Gadola will continue to support the Group in an advisory capacity to the Board, and we are grateful for his continued contributions.
Outlook 2026 – barring unforeseen events
Looking ahead to 2026, Straumann Group enters the year with strong momentum, supported by its resilient business model, strong market positions and a highly engaged, entrepreneurial culture that enables disciplined execution and decision-making. Operating in a global oral care market exceeding CHF 20 billion, the Group sees significant opportunities for continued growth.
Market conditions are expected to remain volatile, with ongoing macroeconomic and regulatory uncertainties.
The Group remains confident in its outlook and expects to deliver high single-digit organic revenue growth in 2026, alongside a core EBIT margin improvement of 30 to 60 basis points at constant 2025 exchange rates, with the margin progression weighted towards the second half of the year.
***
About Straumann Group
The Straumann Group (SIX: STMN) is a global leader in tooth replacement and orthodontic solutions that restore smiles and confidence. It unites global and international brands that stand for excellence, innovation and quality in replacement, corrective and digital dentistry, including Anthogyr, ClearCorrect, Medentika, Neodent, NUVO, Straumann and other fully/partly owned companies and partners. In collaboration with leading clinics, institutes and universities, the Group researches, develops, manufactures and supplies dental implants, instruments, CADCAM prosthetics, orthodontic aligners, biomaterials and digital solutions for use in tooth correction, replacement and restoration or to prevent tooth loss.
Headquartered in Basel, Switzerland, the Group currently employs around 12 000 people worldwide. Its products, solutions and services are available in more than 100 countries through a broad network of distribution subsidiaries and partners.
Straumann Holding AG, Peter Merian-Weg 12, 4002 Basel, Switzerland
Phone: +41 (0)61 965 11 11
Homepage: www.straumann-group.com
Contacts:
|
Corporate Communication Silvia Dobry: +41 (0)61 965 15 62 Marc Kaiser: +41 (0)61 965 16 80 E-mail: corporate.communication@straumann.com
|
Investor Relations Marcel Kellerhals: +41 (0)61 965 17 51 Derya Güzel: +41 (0)61 965 18 76 E-mail: investor.relations@straumann.com |
ANALYSTS’ AND MEDIA CONFERENCE CALL
Straumann will present its full-year 2025 results to representatives of the financial community and media in a webcast conference call today at 10.30 a.m. CET. The webcast can be accessed via www.straumann-group.com/webcast. A replay of the webcast will be available after the conference.
If you intend to ask a question during the Q&A session, we kindly ask you to pre-register for the conference call through this link. We also recommend that you download the presentation file in advance using the direct link in this media release before joining the conference call.
Presentation
The conference presentation slides are attached to this release and available on the Media and Investors pages at www.straumann-group.com.
Annual report
Further details of the 2025 performance and financials can be found in the Group’s 2025 Annual Report. The financial statements are an integral part of the Annual Report, which can be viewed online and downloaded at
UPCOMING CORPORATE / INVESTOR EVENTS
|
2026 |
Event |
Location |
|
February 19–20 |
Swiss Roadshow – UBS |
Zurich and Geneva |
|
March 3 |
Morgan Stanley Healthcare Conference |
London |
|
March 3–5 |
US Roadshow – William Blair |
New York and Boston |
|
March 4 |
UBS Healthcare Conference |
London |
|
March 9–10 |
Paris Roadshow – BNP Exane |
Paris |
|
March 23 |
CFO Sell-side analyst meeting |
London |
|
March 24 |
BNP Exane Healthcare Conference |
London |
|
April 17 |
Annual General Meeting of Shareholders |
Basel |
|
March 31 – April 28 |
Quiet period |
|
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April 29 |
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This press release contains forward-looking statements that reflect the current views, beliefs and expectations of management at the time the statements are made. They are subject to risks and uncertainties including, but not confined to, future global economic conditions, pandemics, exchange rates, legal provisions, market conditions, activities by competitors and other factors outside Straumann’s control. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. Straumann is providing the information in this release as of this date and does not undertake any obligation to update any statements contained in it as a result of new information, future events, or otherwise. This release constitutes neither an offer to sell nor a solicitation to buy any securities.
Sandoz receives US FDA approval to expand Enzeevu® (aflibercept-abzv) label for multiple retinal indications
- Approved indications now include all retinal indications, in addition to previously-approved indication of nAMD
- More than 30 million Americans live with retinal diseases, which can lead to vision loss or blindness1
- Enzeevu® is expected to launch in US in Q4 2026
Basel, February 18, 2026 – Sandoz (SIX:SDZ/OTCQX:SDZNY), the global leader in affordable medicines, today announced that the US Food and Drug Administration (FDA) has approved an expanded label for Enzeevu® (aflibercept-abzv), to include multiple retinal indications. Enzeevu® was originally approved by the FDA for the treatment of neovascular (wet) age-related macular degeneration (nAMD) in August 20242.
The most recent approval expands the Enzeevu® label indications to include macular edema following retinal vein occlusion (RVO), diabetic retinopathy (DR) and diabetic macular edema (DME), along with the previously approved indication of nAMD. This expansion offers retina specialists a clinically-proven aflibercept biosimilar option to treat more patients across these retinal diseases.
Keren Haruvi, President Sandoz North America said: “More than 30 million people in the US are living with retinal diseases that can lead to irreversible vision loss or blindness. With this expanded label, we’re broadening our ability to deliver affordable care to those impacted by these devastating diseases.”
Sandoz is committed to helping millions of patients access critical and potentially life-changing biologic medicines sustainably and affordably, with a leading global portfolio comprising 13 biosimilars and a further 27 assets in various stages of development.
This approval strengthens the company’s position in ophthalmology, following the acquisition of the US biosimilar Cimerli® (ranibizumab-eqrn) in 2024 and the European launch of Afqlir® (aflibercept) in 2025. It also represents another step towards the overall strategic objective of capitalizing on a projected ~USD 320 billion biosimilar market opportunity over the next 10 years3. Enzeevu® is expected to launch in the US in the fourth quarter of 2026, or earlier under certain circumstances.
ABOUT Enzeevu® (aflibercept-abzv)
The active ingredient in Enzeevu® is aflibercept. Aflibercept is a recombinant fusion protein that binds to vascular endothelial growth factor A (VEGF-A) and placental growth factor (PlGF), inhibiting abnormal vessel growth. In patients with neovascular (wet) age-related macular degeneration (nAMD), macular edema following retinal vein occlusion (RVO), diabetic retinopathy (DR) and diabetic macular edema (DME), aflibercept is administered into the eye as an intravitreal injection helping to inhibit abnormal blood vessel growth and reduce vascular permeability associated with retinal diseases4.
INDICATIONS
Enzeevu® (aflibercept-abzv) injection, for intravitreal use, is indicated for the treatment of patients with neovascular (wet) age-related macular degeneration (AMD), macular edema following retinal vein occlusion (RVO), diabetic retinopathy (DR) and diabetic macular edema (DME).
SELECT IMPORTANT SAFETY INFORMATION
CONTRAINDICATIONS: Ocular or periocular infection, active intraocular inflammation, hypersensitivity
WARNINGS AND PRECAUTIONS: Endophthalmitis, retinal detachments and retinal vasculitis with or without occlusion may occur following intravitreal injections. Patients and/or caregivers should be instructed to report any signs and/or symptoms suggestive of endophthalmitis, retinal detachment or retinal vasculitis without delay and should be managed appropriately; increases in intraocular pressure have been seen within 60 minutes of an intravitreal injection; there is a potential risk of arterial thromboembolic events following intravitreal use of vascular endothelial growth factor (VEGF) inhibitors
ADVERSE REACTIONS: The most common adverse reactions (≥5%) reported in patients receiving aflibercept were conjunctival hemorrhage, eye pain, cataract, vitreous detachment, vitreous floaters and intraocular pressure increased
This is not the complete list of all the safety information for Enzeevu®. Please see full Prescribing Information for Enzeevu®.
Select Important Safety Information
INDICATIONS
Cimerli® (ranibizumab-eqrn) injection, for intravitreal use, is indicated for the treatment of patients with: Neovascular (Wet) Age-Related Macular Degeneration (AMD); Macular Edema Following Retinal Vein Occlusion (RVO); Diabetic Macular Edema (DME); Diabetic Retinopathy (DR); Myopic Choroidal Neovascularization (mCNV)
CONTRAINDICATIONS: Ocular or periocular infections, hypersensitivity
WARNINGS AND PRECAUTIONS: Endophthalmitis and retinal detachments may occur following intravitreal injections. Patients should be monitored following the injection; increases in intraocular pressure (IOP) have been noted both pre- and post-intravitreal injection; there is a potential risk of arterial thromboembolic events following intravitreal use of VEGF inhibitors; fatal events occurred more frequently in patients with diabetic macular edema and diabetic retinopathy at baseline, who were treated monthly with ranibizumab compared with control
ADVERSE REACTIONS: The most common adverse reactions (reported more frequently in ranibizumab-treated subjects than control subjects) are conjunctival hemorrhage, eye pain, vitreous floaters, and increased IOP
This is not the complete list of all the safety information for CIMERLI®. Please see full Prescribing Information.
DISCLAIMER
This Media Release contains forward-looking statements, which offer no guarantee with regard to future performance. These statements are made on the basis of management’s views and assumptions regarding future events and business performance at the time the statements are made. They are subject to risks and uncertainties including, but not confined to, future global economic conditions, exchange rates, legal provisions, market conditions, activities by competitors and other factors outside of the control of Sandoz. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual outcomes may vary materially from those forecasted or expected. Each forward-looking statement speaks only as of the date of the particular statement, and Sandoz undertakes no obligation to publicly revise any forward-looking statements, except as required by law.
REFERENCES
1 CDC. Vision and eye health surveillance systems. Available at: https://ddt-vehss.cdc.gov/LP?Level1=Age-related+Macular+Degeneration+(AMD)&Level2=AMD+Prevalence&Level3=VEHSS+Modeled+Estimate:+Agerelated+Macular+Degeneration+(AMD)&Level4=Prevalence+of+AMD&LocationId=&DataSourceId=PREV&GSDataSourceId=&GSLocationId=&RiskFactorSubCatId=&IndicatorId=QAMDM~R3_ALL&ShowFootnotes=true&View=NationalChartTable&CompareViewYear=1&CompareId=&CompareId2=&YearId=YR11&ResponseId=R3_ALL&AgeId=AGE40PLUS&GenderId=GALL&RaceId=ALLRACE&RiskFactorId=RFPERS&RiskFactorResponseId=RFTOT&DataValueTypeId=CRDPREV&MapClassifierId=quantile&MapClassifierCount=7&CountyFlag=N [Last Accessed: February 2026]
2 Sandoz. Sandoz receives FDA approval for Enzeevu® (aflibercept-abzv), further strengthening US biosimilar position. Available at: https://www.sandoz.com/sandoz-receives-fda-approval-enzeevutm-aflibercept-abzv-further-strengthening-us-biosimilar/ [Last Accessed: February 2026]
3 Sandoz data on file.
4 Enzeevu®. Prescribing Information. Available at SOK583_BS_A_1.14.1.3_prescribing-information-Enzeevu.pdf [Last Accessed: February 2026]
ABOUT SANDOZ
Sandoz (SIX: SDZ; OTCQX: SDZNY) is the global leader in affordable medicines, with a growth strategy driven by its Purpose: pioneering access for patients. More than 20,000 people of 100 nationalities work together to ensure 900 million patient treatments are provided by Sandoz, generating substantial global healthcare savings and an even larger social impact. Its leading portfolio of approximately 1,300 products addresses diseases from the common cold to cancer. Headquartered in Basel, Switzerland, Sandoz traces its heritage back to 1886. Its history of breakthroughs includes Calcium Sandoz in 1929, the world’s first oral penicillin in 1951, and the world’s first biosimilar in 2006. In 2024, Sandoz recorded net sales of USD 10.4 billion.
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Immunic Announces Closing of Oversubscribed Private Placement Financing
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Issuer: Immunic AG / Key word(s): Financing Immunic Announces Closing of Oversubscribed Private Placement Financing 17.02.2026 / 22:05 CET/CEST The issuer is solely responsible for the content of this announcement. Immunic Announces Closing of Oversubscribed Private Placement Financing – Upfront Proceeds of USD 200 Million, with Potential for up to USD 200 Million in Additional Proceeds – – Expected to Fund Completion of Phase 3 ENSURE Trials in Relapsing Multiple Sclerosis, Initiation of Phase 3 Trial in Primary Progressive Multiple Sclerosis, and Begin of Transition Into a Commercial Organization – NEW YORK, February 17, 2026 – Immunic, Inc. (Nasdaq: IMUX), a late-stage biotechnology company pioneering the development of novel oral therapies for neurologic and gastrointestinal diseases, today announced the closing of its previously disclosed private placement financing. The financing was led by BVF Partners L.P. and included participation from Aberdeen Investments, Avidity Partners, Coastlands Capital, EcoR1 Capital, Janus Henderson Investors, OrbiMed, RA Capital Management, TCGX, Trails Edge Capital Partners, Vivo Capital, Woodline Partners LP, and other institutional investors. As previously disclosed, Immunic entered into a securities purchase agreement with select accredited investors for up to USD 400 million in gross proceeds through a private placement. Pursuant to the terms of the purchase agreement, the company issued an aggregate of 229,076,000 pre-funded warrants to purchase shares of the company’s common stock at a price of $0.873 per pre-funded warrant, for upfront gross proceeds of USD 200 million. In addition, the company issued warrants to purchase up to an aggregate of 229,076,000 shares of the company’s common stock (or pre-funded warrants in lieu thereof) at an exercise price of $0.873 per share, for up to an additional USD 200 million in gross proceeds to Immunic. These warrants will expire upon the earlier of (a) 30 days after the public announcement of top-line data from the phase 3 ENSURE trials or (b) February 17, 2031. Immunic intends to use the net proceeds from the offering to fund its clinical trials and operations and for other general corporate purposes. The upfront proceeds from this private placement, combined with current cash, cash equivalents and marketable securities, are expected to fund operating and capital expenditures into late 2027. Leerink Partners acted as lead placement agent in connection with the financing. Stifel, Guggenheim Securities, William Blair, LifeSci Capital, B. Riley Securities and Brookline Capital Markets, a division of Arcadia Securities, LLC, also acted as placement agents in connection with the financing. The securities sold in the private placement have not been registered under the Securities Act of 1933, as amended (the Securities Act), or applicable state securities laws and accordingly may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (the SEC) or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws. About Immunic, Inc. Immunic, Inc. (Nasdaq: IMUX) is a late-stage biotechnology company pioneering the development of novel oral therapies for neurologic and gastrointestinal diseases. The company’s lead development program, vidofludimus calcium (IMU-838), is currently in phase 3 clinical trials for the treatment of relapsing multiple sclerosis, for which top-line data is expected to be available by the end of 2026. It has already shown therapeutic activity in phase 2 clinical trials in patients suffering from relapsing-remitting multiple sclerosis and progressive multiple sclerosis. Vidofludimus calcium combines neuroprotective effects, through its mechanism as a first-in-class nuclear receptor-related 1 (Nurr1) activator, with additional anti-inflammatory and anti-viral effects, by selectively inhibiting the enzyme dihydroorotate dehydrogenase (DHODH). IMU-856, which targets the protein Sirtuin 6 (SIRT6), is intended to restore intestinal barrier function and regenerate bowel epithelium, which could potentially be applicable in numerous gastrointestinal diseases, such as celiac disease as well as inflammatory bowel disease, Graft-versus-Host-Disease and weight management. IMU-381, which currently is in preclinical testing, is a next generation molecule being developed to specifically address the needs of gastrointestinal diseases. For further information, please visit: www.imux.com. Cautionary Note Regarding Forward-Looking Statements This press release contains “forward-looking statements” that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, included in this press release regarding strategy, future operations, future financial position, future revenue, projected expenses, sufficiency of cash and cash runway, expected timing, development and results of clinical trials, prospects, plans and objectives of management are forward-looking statements. Examples of such statements include, but are not limited to, statements relating to consummation of the proposed offering and the exercise of warrants to be issued in the offering, Immunic’s development programs and the targeted diseases; the potential for vidofludimus calcium to safely and effectively target diseases; preclinical and clinical data for vidofludimus calcium; the feasibility of advancing vidofludimus calcium to a confirmatory phase 3 clinical trial in progressive multiple sclerosis; the timing of current and future clinical trials and anticipated clinical milestones; the nature, strategy and focus of the company and further updates with respect thereto; and the development and commercial potential of any product candidates of the company. Immunic may not actually achieve the plans, carry out the intentions or meet the expectations or projections disclosed in the forward-looking statements and you should not place undue reliance on these forward-looking statements. Such statements are based on management’s current expectations and involve substantial risks and uncertainties. Actual results and performance could differ materially from those projected in the forward-looking statements as a result of many factors, including, without limitation, increasing inflation, tariffs and macroeconomics trends, impacts of the Ukraine – Russia conflict and the conflict in the Middle East on planned and ongoing clinical trials, risks and uncertainties associated with the ability to project future cash utilization and reserves needed for contingent future liabilities and business operations, the availability of sufficient financial and other resources to meet business objectives and operational requirements, the fact that the results of earlier preclinical studies and clinical trials may not be predictive of future clinical trial results, any changes to the size of the target markets for the company’s products or product candidates, the protection and market exclusivity provided by Immunic’s intellectual property, risks related to the drug development and the regulatory approval process, the impact of competitive products and technological changes, and the risk that warrants issued in this offering will not be exercised for cash in the future. A further list and descriptions of these risks, uncertainties and other factors can be found in the section captioned “Risk Factors,” in the company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on March 31, 2025, and in the company’s subsequent filings with the SEC. Copies of these filings are available online at www.sec.gov or ir.imux.com/sec-filings. Any forward-looking statement made in this release speaks only as of the date of this release. Immunic disclaims any intent or obligation to update these forward-looking statements to reflect events or circumstances that exist after the date on which they were made. Immunic expressly disclaims all liability in respect to actions taken or not taken based on any or all of the contents of this press release. Contact Information Immunic, Inc. US IR Contact US Media Contact
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