LEIDEN, The Netherlands, July 14 /PRNewswire-FirstCall/ -- Pharming Group N.V. ("Pharming" or "the Company") (Euronext: PHARM) announced today today that it has reached agreement with Infigen, Inc. ("Infigen") and obtained broad licenses to the patents of Infigen. The licensing agreement enables Pharming to advance commercialization of its product pipeline and protein production technology.
Pharming has obtained worldwide, non-exclusive, royalty-free, non-terminable licenses from Infigen for patents on nuclear transfer and associated technologies. The new licensing agreement will replace earlier agreements between the companies. The financial terms of the agreement with Infigen were undisclosed and has been approved by the Board of Supervisory Directors. Infigen will also relinquish claims to any milestone payments for product development as defined under earlier agreements.
"Pharming has advanced the development of its products by obtaining access to key patents from Infigen as well as clearing all milestone payment obligations," said Dr. Francis Pinto, CEO of Pharming. "In addition, the agreement has strengthened our protein production capabilities and allows the Company to pursue partnerships in this area."
Pharming will continue to strengthen the intellectual property position for its product pipeline and protein production technology. Recently, the Company completed an agreement with Probio International Holdings Pte Ltd to broaden access to key technology patents and accelerate commercialization of recombinant human lactoferrin in Asia.
Background on Pharming Group N.V.
Pharming Group N.V. is developing innovative protein therapeutics for unmet medical needs. The Company's products include potential treatments for genetic disorders and specialty products for surgical indications. Pharming's lead product for Hereditary Angioedema is in Phase III of clinical development. The advanced technologies of the Company include novel platforms for the production of protein therapeutics, as well as technology and processes for the purification and formulation of these products. 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.