Leiden, The Netherlands, December 6, 2010. Pharming Group NV (“Pharming” or “the Company”) (NYSE Euronext: PHARM) today announced that Socius CG II, Ltd, a subsidiary of Socius Capital Group, LLC (“Socius”), based in New York and Los Angeles, following Pharming’s call for the €12 million loan notes, as announced last Friday, exercised their investment rights under the € 16.1 million investment agreement with Pharming .
As announced last Friday, under these investment rights, Pharming will issue 75,849,057 shares to Socius, In addition to these shares, Socius is entitled to 24,339,623 warrants with an exercise price of €0.212 (21.2 cents). The shares will be delivered and admitted to listing and trading on Euronext Amsterdam following the publication of a prospectus (expected within the next two weeks),
Socius can either place the shares acquired by it in the market or accumulate them up to a maximum holding in Pharming of 21.8% of the number of outstanding shares. Socius is committed not to short sell or enter into any hedging transactions related to Pharming shares.
About Pharming Group NV
Pharming Group NV is developing innovative products for the treatment of unmet medical needs. Ruconest™ (Rhucin® in non-European territories) 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. 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. Additional information is available on the Pharming website, 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.
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