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Pharming Group (PHGUF.PK) Redeems Final Tranche of Convertible Bond


6/13/2012 8:46:21 AM

LEIDEN, THE NETHERLANDS--(Marketwire - June 13, 2012) - Biotech company Pharming Group NV ("Pharming" or "the Company") (EURONEXT: PHARM) today announced that it has redeemed the final tranche of its EUR8.4 million convertible bond. A total of 45,580,468 shares will be issued today to the bondholders under the terms and conditions of the bond, as announced in Pharming's press release on December 23, 2011, and following the approval of the increase in the Company's authorised share capital during the extraordinary general meeting of shareholders, which was held on February 3, 2012.

As of today, the number of outstanding shares has increased from 625,082,077 to 670,662,545.

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, and is distributed in the EU by Swedish Orphan Biovitrum (OMX: SOBI). RHUCIN® 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, http://itunes.apple.com/us/app/pharming-ir/id515983241?ls=1&mt=8

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/1619265/517164.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#1619265]


Contact
Pharming
Sijmen de Vries
CEO: T: +31 (0)71 524 7400
Karl Keegan
CFO: T: +31 (0)71 524 7400

FTI Consulting
Julia Phillips
T: +44 (0)207 269 7187
John Dineen
T: +44 (0)207 269 7193


Read at BioSpace.com

   

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