Pharming updates on ongoing call of first tranche of ?10 million equity working capital facility
(Thomson Reuters ONE) -
Leiden, The Netherlands, August 10, 2012. Biotech company Pharming Group NV
("Pharming" or "the Company") (NYSE Euronext: PHARM) today announces that the
investors have increased the first call under the facility by 9,720,074 shares
from 23,088,368 to 32,808,442.
Pharming also confirms that short selling is prohibited under this facility and
also wishes to re- emphasize that both the timing and the amount of any tranche
is determined by Pharming. Under the initial call of 15,088,368 shares made by
the Company as announced on August 8, 2012, the individual investors have an
option to purchase that is limited to up to 600% of these 15,088,368 shares
during the 15 trading days of this call. The investors made a call of 8,000,000
shares as per August 9, 2012 and another 9,720,074 as per today.
Following the issue of the 9,720,074 shares as per August 10, 2012, the number
of outstanding shares increases from currently 747,337,044 shares to
757,057,118 shares.
RUCONEST® Phase III Study
Pharming is conducting a Phase III clinical study with RUCONEST® under a Special
Protocol Assessment (SPA) that is intended to support the submission of a
Biologics License Application (BLA) to the U.S. Food and Drug Administration
(FDA). RUCONEST is being evaluated for the treatment of acute attacks of
angioedema in patients with HAE in an international, multicenter, randomized,
placebo-controlled Phase III study at a dosage strength of 50 U/kg with a
primary endpoint of time to beginning of relief of symptoms. Santarus has
licensed certain exclusive rights from Pharming to commercialize RUCONEST in
North America for the treatment of acute attacks of HAE and other future
indications. Under the terms of the license agreement, a $10 million milestone
is payable to Pharming upon successful achievement of the primary endpoint of
the Phase III clinical study. The study is expected to be completed by the end
of the third quarter of 2012.
About RUCONEST® and Hereditary Angioedema
RUCONEST® (INN conestat alfa) is a recombinant version of the human protein C1
inhibitor (C1INH). RUCONEST is produced through Pharming's proprietary
technology in milk of transgenic rabbits and is approved in Europe for treatment
of acute angioedema attacks in patients with HAE. RUCONEST® is an
investigational drug in the U.S. and has been granted orphan drug designation
for the treatment of acute attacks of HAE, a genetic disorder in which the
patient is deficient in or lacks a functional plasma protein C1 inhibitor,
resulting in unpredictable and debilitating episodes of intense swelling of the
extremities, face, trunk, genitals, abdomen and upper airway. The frequency and
severity of HAE attacks vary and are most serious when they involve laryngeal
edema, which can close the upper airway and cause death by asphyxiation.
According to the U.S. Hereditary Angioedema Association, epidemiological
estimates for HAE range from one in 10,000 to one in 50,000 individuals.
About Pharming Group NV
Pharming Group NV is developing innovative products for the treatment of unmet
medical needs. RUCONEST® is a recombinant human C1 inhibitor approved for the
treatment of angioedema attacks in patients with HAE in all 27 EU countries plus
Norway, Iceland and Liechtenstein, and is distributed in the EU by Swedish
Orphan Biovitrum (OMX: SOBI). RUCONEST® is partnered with Santarus, Inc (NASDAQ:
SNTS) in North America where the drug is undergoing Phase III clinical
development. The product is also being evaluated for follow-on indications in
the areas of transplantation and reperfusion injury. The advanced technologies
of the Company include innovative and validated platforms for the production of
protein therapeutics, technology and processes for the purification and
formulation of these products. A feasibility study, using the validated
transgenic rabbit platform, aimed at the development of recombinant Factor VIII
for the treatment of Haemophilia A is underway with partner, Renova Life, Inc.
Additional information is available on the Pharming website, www.pharming.com.
To download the Pharming Group Investor Relations App, click here.
This press release contains forward looking statements that involve known and
unknown risks, uncertainties and other factors, which may cause the actual
results, performance or achievements of the Company to be materially different
from the results, performance or achievements expressed or implied by these
forward looking statements.
Contact
Sijmen de Vries, CEO: T: +31 (0)71 524 7400
Karl Keegan, CFO: T: +31 (0)71 524 7400
FTI Consulting
Julia Phillips/ John Dineen, T: +44 (0)207 269 7193
# # #
Press release (PDF):
http://hugin.info/132866/R/1633195/524037.pdf
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other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Pharming Group N.V. via Thomson Reuters ONE
[HUG#1633195]
Unternehmensinformation / Kurzprofil:
Datum: 10.08.2012 - 07:00 Uhr
Sprache: Deutsch
News-ID 173522
Anzahl Zeichen: 5822
contact information:
Town:
Leiden
Kategorie:
Business News
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