Formycon AG announced the successful completion of patient enrollment for its pivotal Dahlia pharmacokinetic study, marking a significant milestone in the development of FYB206, a biosimilar candidate to Keytruda (pembrolizumab). The German biotechnology company enrolled 96 participants in the study, which launched in June 2024 across selected Southeastern and Eastern European study centers.
The Dahlia study represents a streamlined approach to biosimilar development that has received regulatory backing from the U.S. Food and Drug Administration. The study compares the pharmacokinetics, safety, and tolerability of FYB206 with Keytruda in patients who have undergone surgical removal of malignant melanoma, providing adjuvant therapy over 17 treatment cycles to minimize relapse risk.
FDA Approves Streamlined Development Path
In a strategic regulatory move, Formycon submitted a streamlined clinical strategy to the FDA at the end of 2024, proposing to demonstrate therapeutic comparability between FYB206 and Keytruda based on comprehensive analytical data and pharmacokinetic study results. Following positive FDA feedback, the company made the decision in February 2025 to discontinue recruitment for an already-initiated Phase III trial.
"With our streamlined clinical development program for FYB206, we have secured a leading role among the developers of a pembrolizumab biosimilar," said Dr. Andreas Seidl, Chief Scientific Officer of Formycon AG. "Based on our stringent Dahlia study design, our sound scientific rationale and the comprehensive analytical data showing high structural and functional comparability with the reference drug, we have aligned with the FDA on a streamlined clinical development program that allows us to skip the Phase III trial."
This regulatory pathway accelerates development timelines while significantly reducing investment requirements over the coming years. Patients already enrolled in the discontinued Phase III trial have continued treatment with locally available Keytruda outside the trial framework.
Study Progress and Timeline
The first patients in the Dahlia trial have already completed all 17 treatment cycles, positioning the study for data readout in the first quarter of 2026. The completion of patient enrollment demonstrates what Seidl described as "professional study management and strong recruitment performance in the study centers."
The streamlined approach maintains rigorous safety and efficacy standards while supporting Formycon's strategy to provide the pembrolizumab biosimilar to patients worldwide as quickly as possible, potentially improving access to this essential cancer therapy.
Market Opportunity and Competitive Landscape
Pembrolizumab, marketed as Keytruda, represents one of the pharmaceutical industry's most significant commercial opportunities. As an immune checkpoint inhibitor used across various cancer therapies, Keytruda generated approximately $29.5 billion in sales during 2024, making it the world's best-selling drug. Market forecasts project sales could exceed $50 billion by 2032.
The growing cancer burden underscores the importance of biosimilar competition. The International Agency for Research on Cancer estimates a 77% increase in cancer diagnoses by 2050, highlighting the need for accessible treatment options.
Formycon expects the earliest market entry for FYB206 following the expiry of Keytruda's market exclusivity in 2029 for the United States and after 2030 for the European Union. The company's position among leading Keytruda biosimilar developers reflects the competitive landscape surrounding this high-value therapeutic target.
Broader Biosimilar Portfolio
Formycon's pembrolizumab biosimilar development occurs within a broader portfolio strategy focused on high-quality biosimilars across ophthalmology, immunology, and immuno-oncology. The company currently has two biosimilars on the market (FYB201/ranibizumab and FYB202/ustekinumab) and one approved biosimilar (FYB203/aflibercept) by the FDA, EMA, and MHRA, with four pipeline candidates in development.
The biosimilar market represents a significant growth opportunity, with global sales currently around $21 billion and analyst projections suggesting potential growth to over $74 billion by 2030. By 2032, an estimated 45 biopharmaceutical blockbusters with combined annual sales exceeding $200 billion will lose patent protection, creating substantial opportunities for biosimilar competition.
