PHARMING GROUP PRESENTS PLANS FOR FUTURE OF COMPANY
Fortis Bank will act as advisor for sale and/or refinancing of company
Leiden, The Netherlands, September 10, 2001 - Pharming Group N.V. (AEX: PHAR / NASDAQ Europe: PHAR; “Pharming") today confirmed that it is in active negotiations with several parties regarding a sale of the company. These parties include several international biopharmaceutical companies that have an interest in Pharming’s products and technology. In addition, discussions have been initiated with financial institutions regarding a refinancing of the company or parts of the company after restructuring.
Pharming has retained Fortis Bank Investment Banking to act as its advisor in a sale and/or refinancing transaction. The investment-banking group of Fortis Bank has a significant experience and expertise in managing strategic and financing transactions in the healthcare sector.
On August 10, 2001 Pharming filed for receivership following a failure to complete a financial transaction. Since then, it has succeeded in securing limited funds to secure its short-term future. This was achieved by receiving certain payments due from its corporate partners and by the sale of certain financial assets.
Pharming expects that further decisions about the long-term future of the company will be taken in the course of this month.
Pharming Group N.V. focuses on the development, production and commercialization of human therapeutic proteins to be used in highly innovative therapies. The company’s product portfolio is aimed at treatments for genetic disorders, blood-related disorders, infectious and inflammatory diseases, tissue and bone damage, and surgical and traumatic bleeding. Pharming’s proprietary technologies include the production of biopharmaceuticals in the milk of transgenic animals, as well as the purification of biopharmaceuticals from milk, formulation and application of these biopharmaceuticals. Pharming has operations in Belgium, Finland, the Netherlands and the USA.
Certain statements contained in this press release are forward-looking statements which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements
Pharming Group NV
Rein Strijker, tel. +31 71 524 7406