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Pharming Group (PHGUF.PK) Announces Sale of US Facilities


7/3/2012 8:15:03 AM

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]



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


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