Pharming successfully completes equity fundraising of ?12 million
(Thomson Reuters ONE) -
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION INTO
OR IN THEUNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA..
Leiden, The Netherlands, May 28, 2010. Biotech company Pharming Group NV
("Pharming" or "the Company") (NYSE Euronext: PHARM) announces that it has
successfully completed an equity fundraising of ?12.0 million through a private
placement of ordinary shares with new and existing investors (the "Offering").
The Company deems the net proceeds of the Offering sufficient to finalize the
regulatory approval process and start of commercialization of Rhucin for the
treatment of Hereditary Angioedema, if the marketing authorisation by the
European Union is granted.
In the context of the Offering, a total of 100,000,000 million new shares (the
"Offer Shares") have been offered for an issue price of ?0.12 per Offer Share.
The Offering was launched this morning and the order book for the Offering was
closed today . Payment for and delivery of the Offer Shares is expected to take
place 3 business days after today, at which date the Offer Shares are expected
to be admitted to trading and listing of Euronext Amsterdam by NYSE Euronext. As
a result of the Offering and a number of anti-dilution events triggered by the
Offering, Pharming's total number of outstanding ordinary shares will increase
to 272,447,697.
"We are very pleased with the successful completion of this financing round. The
progress of the review of the European Marketing Authorization of Rhucin, the
now anticipated favorable opinion already in June 2010, the recently announced
commercialization agreement for Rhucin with Swedish Orphan Biovitrum and the
recently announced initiation of the spin-off of DNage have provided the basis
needed to raise new funds in this very challenging market environment," said
Sijmen de Vries, MD, MBA, Chief Executive Officer.
Pharming was advised in this Offering by Loyens & Loeff NV, Kempen & Co and
Petercam Bank NV.
About Pharming Group NV
Pharming Group NV is developing innovative products for the treatment of genetic
disorders, ageing diseases, specialty products for surgical indications, and
nutritional products. Pharming's lead product Rhucin® for acute attacks of
Hereditary Angioedema has passed clinical development stage and the Market
Authorization Application is under review with the European Medicines Agency.
Prodarsan® - a product under development by Pharming's subsidiary DNage - is in
early stage clinical development for Cockayne Syndrome and lactoferrin for use
in food products. The advanced technologies of the Company include innovative
platforms for the production of protein therapeutics, technology and processes
for the purification and formulation of these products, as well as technology in
the field of DNA repair (via DNage). Recently the partial spin- out of DNage was
initiated. Additional information is available on the Pharming website,
http://www.pharming.com
Not for distribution, directly or indirectly, in or into the United States,
Australia, Canada, Japan or South Africa or to US persons. This announcement is
not a prospectus and does not contain or constitute an offer for sale or the
solicitation of an offer to purchase securities in the United States, Australia,
Canada, Japan or South Africa or any other jurisdiction.
The securities mentioned herein have not been and will not be registered under
the US Securities Act of 1933, as amended (the "Securities Act"), and may not be
offered or sold in the United States absent registration under the Securities
Act or an available exemption from, or to or for the account of US persons (as
such term is defined in Regulation S under the Securities Act) or transaction
not subject to, the registration requirements of the Securities Act.
In connection with the admission of the Offer Shares to trading on Euronext
Amsterdam by NYSE Euronext, a prospectus - consisting of a registration
document, a security note and a summary - has been made generally made
available today. Copies of the prospectus are available at no cost through the
websites of the Company and Euronext Amsterdam (Dutch residents only) and by
sending a request in writing to the Company.
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, Pharming Group NV, T: +31 (0)71 52 47 431 or +31 (0)6
109 299 54
[HUG#1419648]
Press release (PDF): http://hugin.info/132866/R/1419648/369640.pdf
Unternehmensinformation / Kurzprofil:
Datum: 28.05.2010 - 10:35 Uhr
Sprache: Deutsch
News-ID 21633
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Town:
Leiden
Kategorie:
Business News
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