Capital/Financing Update • Jun 21, 2013
Capital/Financing Update
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Leiden, Leiden, The Netherlands, Netherlands, 21 June 2013. Biotech company Pharming Group NV ("Pharming" or "the Company") (NYSE Euronext: PHARM) today announced that it has completed the redemption of the fourth tranche of its €16.35 million convertible bond. As result of the increase of the share price over the last month, no additional shares needed to be issued to the bondholders to serve the balance between the shares that were issued, as announced on 21 May, as pre-installment for the 21 June redemption and interest payment, under the terms and conditions of the bond.
As announced in our press release on 16 January 2013, and following the approval of the increase of the Company's authorized share capital during the extraordinary general meeting of shareholders, which was held on 28 February 2013, Pharming will redeem the bond on a month by month basis in seven equal tranches, of which four have now been redeemed, such that redemption of the bond will be completed on 1 October 2013. Remaining redemption dates are; 25 July, 28 August and 1 October.
Pharming Group NV is developing innovative products for the treatment of unmet medical needs. RUCONEST® is a recombinant human C1 esterase 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. RUCONEST® is partnered with Santarus, Inc. (NASDAQ: SNTS) in North America and a Biologics License Application for RUCONEST is under review by the U.S. Food and Drug Administration. The product is also being evaluated for various follow-on indications. Pharming has a unique GMP compliant, validated platform for the production of recombinant human proteins that has proven capable of producing industrial volumes of high quality recombinant human protein in a more economical way compared to current cell based technologies. Pharming now plans to utilise this platform for the development of rhFVIII for the treatment of Haemophilia A. Additional information is available on the Pharming website, 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.
Sijmen de Vries, CEO: T: +31 524 7400
FTI Consulting Julia Phillips/ John Dineen, T: +44 (0)207 269 7193
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