Pharming updates on ongoing call of first tranche of €10 million equity working capital facility

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Overig advies 10/08/2012 07:31
Leiden, The Netherlands, August 10, 2012. Biotech company Pharming Group NV ("Pharming" or "the Company") (NYSE Euronext: PHARM) today announces that the investors have increased the first call under the facility by 9,720,074 shares from 23,088,368 to 32,808,442.

Pharming also confirms that short selling is prohibited under this facility and also wishes to re- emphasize that both the timing and the amount of any tranche is determined by Pharming. Under the initial call of 15,088,368 shares made by the Company as announced on August 8, 2012, the individual investors have an option to purchase that is limited to up to 600% of these 15,088,368 shares during the 15 trading days of this call. The investors made a call of 8,000,000 shares as per August 9, 2012 and another 9,720,074 as per today.

Following the issue of the 9,720,074 shares as per August 10, 2012, the number of outstanding shares increases from currently 747,337,044 shares to 757,057,118 shares.

RUCONEST® Phase III Study

Pharming is conducting a Phase III clinical study with RUCONEST® under a Special Protocol Assessment (SPA) that is intended to support the submission of a Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA). RUCONEST is being evaluated for the treatment of acute attacks of angioedema in patients with HAE in an international, multicenter, randomized, placebo-controlled Phase III study at a dosage strength of 50 U/kg with a primary endpoint of time to beginning of relief of symptoms. Santarus has licensed certain exclusive rights from Pharming to commercialize RUCONEST in North America for the treatment of acute attacks of HAE and other future indications. Under the terms of the license agreement, a $10 million milestone is payable to Pharming upon successful achievement of the primary endpoint of the Phase III clinical study. The study is expected to be completed by the end of the third quarter of 2012.

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.










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