Pharming Group N.V.
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Publicatie datum
25 jan 2006 - 07:08
Statutaire naam
Pharming Group N.V.
Titel
PHARMING RAISES EUR 17.1 MILLION FOR DEVELOPMENT of rhC1INH FOR NEW INDICATIONS
Bericht
Leiden, The Netherlands, January 25, 2006. Biotech company Pharming Group N.V. (“Pharming” or “the Company”) (Euronext: PHARM) (PHARM.AS) announced today that it has raised EUR 17.1 million from new institutional investors for the further development of recombinant human C1 inhibitor (rhC1INH).
Pharming will use the proceeds to develop rhC1INH for additional indications beyond hereditary angioedema (HAE) and for corporate purposes. The Company placed a total of 4,500,000 shares at EUR 3.80 per share along with 675,000 warrants at an exercise price of EUR 4.00 per share and an exercise period of two years.
Amsterdams Effectenkantoor, Fortis Bank and Rabo Securities have placed the shares with institutional investors. Following this transaction, the total number of outstanding shares is 85.2 million and the total number of outstanding warrants is 1.28 million with an average exercise price of approximately EUR 4.50 per share.
“Pharming has obtained additional funding to pursue clinical studies for new indications with rhC1INH and for its strategic growth objectives,” said Dr. Francis J. Pinto, CEO of Pharming. “With this funding, Pharming is in a strong position to build its rhC1INH franchise and for completing agreements on rhC1INH in a manner that maximizes returns for our shareholders.”
Pharming has signed a term sheet for a strategic agreement on rhC1INH with an undisclosed partner. The Company expects to finalize this agreement soon and will update the market with further information in the near future.
Background on Pharming Group N.V.
Pharming Group N.V. is developing innovative protein products for unmet needs. The Company’s products include potential treatments for genetic disorders, specialty products for surgical indications, intermediates for various applications and food products. Pharming has two products in late stage development - recombinant human C1 inhibitor for hereditary angioedema (Phase III) and recombinant human lactoferrin for food u
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