SOURCE: Pharming Group N.V.

February 28, 2008 12:07 ET

Pharming concludes license agreement with Advanced Cell Technology

Company further strengthens transgenic technology platform

LEIDEN, THE NETHERLANDS--(Marketwire - February 28, 2008) - Biotech company Pharming Group NV ("Pharming") (NYSE Euronext: PHARM) announced today that it has concluded a license agreement with Advanced Cell Technology Inc to obtain exclusive rights on patents in the field of transgenic technology, to which it already had non-exclusive rights. Financial details of the agreement were not disclosed.

These patents were previously owned by Infigen Inc and cover a wide range of technologies including for Pharming relevant elements of nuclear transfer, which is an essential step in generating transgenic cattle. The agreement provides Pharming strict control over the generation of its transgenic cattle, while, at the same time, increasing the barriers of entry for others.

Protecting its technology platforms via patents and licenses is an essential element of Pharming's strategy. This is done not only to maintain 'freedom to operate', but also to limit others in using the technology without a license, thereby protecting the investments that Pharming has made in developing its technology.

About Pharming Group NV

Pharming Group NV is developing innovative products for the treatment of genetic disorders, ageing diseases, specialty products for surgical indications, intermediates for various applications and nutritional products. Pharming has two products in late stage development - Rhucin® (recombinant human C1 inhibitor) for Hereditary Angioedema and human lactoferrin for use in food products. The advanced technologies of the Company include innovative platforms for the production of protein therapeutics, technology and processes for the purification and formulation of these products, as well as technologies in the field of tissue repair (via its collaboration with Novathera) and DNA repair (via DNage). Additional information is available on the Pharming website, http://www.pharming.com and on http://www.dnage.nl.

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. The press release also appears in Dutch. In the event of any inconsistency, the English version will prevail over the Dutch version.

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Contact Information

  • Contact:

    Rein Strijker (NL)
    Pharming Group NV
    T: +31 (0)71 52 47 400