Pharming focuses on transgenic rabbit platform closure of US based cattle platform operations
(Thomson Reuters ONE) -
Leiden, The Netherlands, June 25, 2012. Biotech company Pharming Group NV
("Pharming" or "the Company") (NYSE Euronext: PHARM) announced today the closure
of its US based cattle platform research operations. As previously announced on
June 12, Pharming is undertaking a comprehensive review of its strategic options
including the implementation of additional cost containment measures.
Pharming's US research operations are comprised of farm based research
facilities, land and staff involved in research and maintenance of the company's
transgenic cattle herd. The decision reflects the declining importance of
transgenic cattle research, and legacy proteins such as fibrinogen, lactoferrin
and collagen, to Pharming's future strategy and the increasing business
development focus on current and new projects, such as rh C1 inhibitor and
Factor VIII. The closure, however, will not adversely affect Pharming's ability
to maintain and preserve the existing transgenic lines, or Pharming's ongoing
discussions with potential partners on collaborations for fibrinogen and
lactoferrin.
Pharming's CEO, Sijmen de Vries, commented: "We would like to express our
gratitude to all of Pharming's US operations staff, past and present, for their
expertise, dedication and support over the years and we wish them well in their
future endeavours."
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.
Contact
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
Press release (PDF) :
http://hugin.info/132866/R/1621729/518242.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#1621729]
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