LEIDEN, THE NETHERLANDS--(Marketwire - July 03, 2012) - Biotech company Pharming Group NV
("Pharming" or "the Company") (NYSE Euronext: PHARM) announced today that
it had
signed an agreement to sell the tangible assets of its US operations.
Following
the announcement of the closure of the US based cattle platform
research
operations, a swift process has lead to the sale of the tangible
assets; the
farm buildings and surrounding land in Wisconsin, to Sexing
Technologies, a
private company based in Navasota, Texas. Sexing Technologies Inc.
specializes
in the genetic improvement and reproductive services and export of
livestock,
primarily through the production and commercialization of sexed sorted
semen and
embryos, around the globe (http://www.sexingtechnologies.com/). Please
refer to
our press release of 25 June 2012 for more details on the closing of
the US
based research facilities.
Further discussions concerning the sale of some of the legacy projects that
were
primarily located in the US operation are ongoing.
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.
Press release (PDF):
http://hugin.info/132866/R/1623667/519063.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
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#1623667]
