Pharming's Supervisory Board nominates CFO
(Thomson Reuters ONE) -
Shareholders' Meeting to approve CFO and increase share capital
Leiden, The Netherlands, August 18, 2010. Biotech company Pharming Group NV
("Pharming" or "the Company") (NYSE Euronext: PHARM) announced today that the
Board of Supervisory Directors (BOSD) has nominated Dr Karl Keegan for
appointment as Chief Financial Officer (CFO) and member of the Board of
Management of Pharming. The Company will hold an Extraordinary General Meeting
of Shareholders (EGM) on October 1, 2010 to request approval from its
shareholders to appoint Dr Keegan as Board member. Pharming will also request
approval for a limited increase of its share capital.
Dr Keegan, 43, is an Irish national who has worked in the healthcare industry
for over 15 years, most recently as the CFO of Minster Pharmaceuticals, a drug
development company acquired by Proximagen Neuroscience in February 2010. Prior
to Minster, Dr Keegan worked at Canaccord Adams as Managing Director, UK Head of
Equity Research and Global Head of Life Sciences Research and as a biotechnology
analyst at several investment banks including Banc of America, UBS and Dresdner
Kleinwort Benson. Prior to his financial career, he worked within the
pharmaceutical industry at SmithKline Beecham Pharmaceuticals. Dr Keegan holds a
PhD in Pharmacology from the University of Cambridge and a Masters in Finance
from the London Business School.
Dr. Keegan will join Pharming as of September 1, 2010 and will be proposed as
member of the Board of Management at an EGM on October 1, 2010. Details of that
meeting and all related documents can be found at the Pharming website as of
August 19, 2010. Following approval of the shareholders, the Board of Management
will consist of Dr Sijmen de Vries (CEO), Dr Bruno Giannetti (COO), Dr Karl
Keegan (CFO) and Dr Rienk Pijpstra (CMO).
Pharming plans to continue the financing of the Company under the Standby Equity
Distribution Agreement with YA Global Master SPV LTD and to pay back the last
remaining ?10.9 million of its Public Bond 2007-2012 per end October 2010. In
order to keep sufficient share capital available after such repayments for
further strengthening of the financial position of the Company, Pharming seeks a
limited increase in its share capital. The Company therefore will request
approval to raise the authorized share capital from 400 million to 500 million
shares. The current number of outstanding shares is 342,086,711 million.
Mr. Jaap Blaak, Chairman of Pharming's Board of Supervisory Directors, said: "We
are very pleased to have Karl join us as Chief Financial Officer. His experience
in the healthcare industry, both financially and strategically, as well as his
extensive contact network, will be invaluable to Pharming. We now have what I
believe is the ideal skill-set across the Board of Management and I am confident
of Pharming's future as a pharmaceutical company and in its ability to bringing
its first product to the European market later this year."
Dr. Sijmen de Vries, Chief Executive Officer, added: "I believe that the
anticipated clearing of the last remaining part of our debt by the end of
October and the appointment of Karl as CFO, represent important milestones for
Pharming, and their achievement stands us in good stead to strengthen our
relationships with current and potential institutional shareholders and to
improve the financial position of the Company."
About Pharming Group NV
Pharming Group NV is developing innovative products for the treatment of genetic
disorders, specialty products for surgical indications, and nutritional
products. On June 24, the European Medicines Agency adopted a positive opinion
for Ruconest(TM) (Rhucin) for the treatment of angioedema attacks. Market
Authorization in the European Economic Area is therefore expected to be granted
in September 2010. The product is also under development for follow-on
indications, i.e. antibody-mediated rejection (AMR) and delayed graft function
(DGF) following kidney transplantation. 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.
Recently, the partial spin-off of DNage was completed. Additional information is
available on the Pharming website,http://www.pharming.com.
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:
Ms. Marjolein van Helmond, T: +31(0)71 52 47 431 or +31(0)6 109 299 54,
E:m.vanhelmond(at)pharming.com
[HUG#1438743]
Press release (PDF):
http://hugin.info/132866/R/1438743/383180.pdf
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Source: Pharming Group N.V. via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 18.08.2010 - 18:16 Uhr
Sprache: Deutsch
News-ID 39798
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contact information:
Town:
Leiden
Kategorie:
Business News
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