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Monday 26 March, 2012

Pharming Group N.V.

Pharming and Hyupjin Corporation announce comme...

Pharming and Hyupjin Corporation announce commercialisation agreement for RUCONEST in Korea

Leiden, The Netherlands, March 26, 2012. Biotech company Pharming Group NV ("Pharming" or "the Company") (NYSE Euronext: PHARM) announced today that it has entered into an agreement with Hyupjin Corporation, a Seoul based Korean specialty pharma company, to commercialise RUCONEST® (recombinant human C1 inhibitor) for the treatment of acute attacks of Hereditary Angioedema (HAE) in the Republic of Korea.

Under the agreement, Hyupjin will drive the regulatory approval in Korea and purchase its commercial supplies of RUCONEST from Pharming at a fixed transfer price.

"The collaboration with a well-established company such as Hyupjin Corporation, as part of our ongoing efforts to extend the commercialisation of RUCONEST is very exciting for us" said Sijmen de Vries, CEO of Pharming. "We are very much looking forward to having RUCONEST distributed by such an experienced partner in Korea. With this agreement with Hyupjin Corporation, we now have two strong partners in Asia for the distribution of RUCONEST, whilst discussions continue with potential partners for other territories."

Mr. Macsan Cho, General Manager of Hyupjin Corporation, said: "In our continuous effort to bring the most innovative therapeutics to patients, this agreement to distribute RUCONEST will now enable us to provide the Korean HAE patients access to this most innovative way to treat their disease. Given our long established relationships in immunology, we feel that RUCONEST complements our existing product portfolio very well and we look forward to getting started." 

About RUCONEST (RHUCIN in non-European territories) 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 in Europe is approved under the name RUCONESTfor treatment of acute angioedema attacks in patients with HAE. RHUCIN® 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.

About Pharming Group NV
Pharming Group NV is developing innovative products for the treatment of unmet medical needs. RUCONEST® (RHUCIN® in non-European territories) is a recombinant human C1 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 (OMX: SOBI). RHUCIN® is partnered with Santarus, Inc (NASDAQ: SNTS) in North America where the drug is undergoing Phase III clinical development. The product is also being evaluated for follow-on indications in the areas of transplantation and reperfusion injury. The advanced technologies of the Company include innovative and validated platforms for the production of protein therapeutics, technology and processes for the purification and formulation of these products. A feasibility study, using the validated transgenic rabbit platform, aimed at the development of recombinant Factor VIII for the treatment of Haemophilia A is underway with partner, Renova Life, Inc. Additional information is available on the Pharming website, www.pharming.com.

About Hyupjin Corporation
Headquartered in Seoul, Korea, Hyupjin Corporation develops and distributes healthcare products from prominent companies in the USA and Europe since 1975. With 30 years of experience in the medical market, Hyupjin Corporation has tight relationships with healthcare professionals and has built extensive know-how of the medical community. Hyupjin's product portfolio mainly consists of oncology and immunology products, but also OTCs, dietary supplements and medical devices. Hyupjin has made a consistent effort for the treatment of incurable diseases along with improvement of patient's quality of life. For more information, please visit http://www.hyupjincorp.com/index_en.php.

 

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.

Contact
Sijmen de Vries, CEO: T: +31 (0) 71 524 7400
Karl Keegan, CFO: T: +31 (0) 71 524 7400

FTI Consulting
Julia Phillips/ John Dineen, T: +44 (0)207 269 7193

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Source: Pharming Group N.V. via Thomson Reuters ONE

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