SOURCE: Pharming Group N.V.

January 31, 2007 02:08 ET

PHARMING RECEIVES SUBSIDIES FOR RESEARCH IN OSTEOPOROSIS

LEIDEN, NETHERLANDS -- (MARKET WIRE) -- January 31, 2007 --



Identification of new therapeutic approaches and diagnostic tools

Leiden, The Netherlands, January 31, 2007. Biotech company Pharming Group NV ("Pharming" or "the Company") (Euronext: PHARM) announced today that its wholly owned subsidiary DNage has been granted two SenterNovem subsidies totalling just over EUR 1 million, over a period of three years, to develop products in the field of osteoporosis.

The granting of these subsidies exemplifies Pharming's strategy to expand its research engine and to strengthen its product pipeline. Several early stage programs have already been initiated at Pharming/DNage and partnered with academic institutions and biotech companies. The Company has started to finance these programs through national and European subsidy programs.

Under a so-called International Innovation Subsidy, DNage will use its unique animal models (for aging diseases) and work with an international consortium of academic institutions and biotech companies to identify new targets (to which therapeutic products can be targeted) and therapies in the field of osteoporosis. Moreover, the study will focus on the identification of new diagnostic tools that can identify the disease at an early stage (biomarkers) to facilitate early diagnosis.

In addition, a "Feasibility" subsidy was granted that will allow the Company, in collaboration with the Erasmus Medical Center in Rotterdam, to establish the role of lactoferrin in bone formation and explore a business and clinical development strategy to develop lactoferrin as a new product in the field of bone diseases such as osteoporosis. Lactoferrin is one of Pharming's current products under development.

Osteoporosis is a skeletal disorder characterized by weakened bones leading to increased risk of fractures and disability. It is estimated that every one in three women and one in eight men over the age of fifty will develop osteoporosis and that more than 75% of osteoporosis patients are diagnosed very late or not at all. There is currently no cure for osteoporosis, although several treatments may slow down its progress. Bisphosphonates are the most commonly prescribed class of drugs for the treatment of osteoporosis with a market size of EUR 7 billion and growing rapidly. However, poor adherence to current therapy and the lack of early diagnosis present key market opportunities. There is a strong medical need for new products (using new therapeutic targets) and new biomarkers.


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 (MAA under review by EMEA) and human lactoferrin for use in food products (GRAS notification under review by US FDA). The advanced technologies of the Company include innovative platforms for the production of protein therapeutics and 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 its acquisition of DNage BV). Additional information is available on the Pharming website, http://www.pharming.com and on http://www.dnage.nl


About SenterNovem

SenterNovem, an agency of the Dutch Ministry of Economic Affairs, promotes sustainable development and innovation and aims to achieve tangible results that have a positive effect on the economy and on society as a whole. International projects are coordinated by SenterNovem in collaboration with Eureka, a pan-European network for market-oriented, industrial research and development partnerships. Founded in 1985, Eureka currently counts 38 full member countries including the European Union. It initiates about 180 projects each year including Eureka clusters, Umbrella networks, and Eurostar projects with an estimated yearly industrial investment of EUR 1 billion. Additional information is available on the SenterNovem website, http://www.senternovem.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.



Contact:

Carina Hamaker (NL)               Rein Strijker (NL)
Investor Voice                    Pharming Group NV
T: +31 (0)6 537 49959             T: +31 (0)71 524 7434
T: +31 (0)71 524 7431




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