Scienza e Tecnologia
Pharming announces change in its holding in BioConnection following a substantial investment by new investor
LEIDEN, The Netherlands , April 22, 2022 /PRNewswire/ -- Pharming Group N.V. ("Pharming" or "the Company") (Euronext Amsterdam: PHARM), (NASDAQ: PHAR) announces a change in its minority holding in BioConnection B.V, a contract development and manufacturing organization (CDMO) and the long-time fill and finish partner in the production of Pharming's product RUCONEST®. In April 2019 , the company announced it had invested €4.1 million to acquire a 43.85% stake in BioConnection through its 100% subsidiary Pharming Technologies B.V.
Following receipt of an offer for all shares in BioConnection by Gimv, a European investment company listed on Euronext Brussels, the existing shareholders (including Pharming) reached agreement with Gimv today on the sale of all issued and outstanding shares to a new holding company incorporated by Gimv for BioConnection, followed by a partial re-investment by existing shareholders of the purchase price in the share capital of that new holding company.
As a result of the transaction, the minority stake held by Pharming in BioConnection will reduce to 22.98% and Pharming will receive one-off US$ 7.5 million ( EUR 6.9 million ) net cash proceeds in Q2 2022.
Pharming will continue to support BioConnection to accelerate its next stage of growth to further invest in its organization and infrastructure to increase the production capacity.
Pharming Group N.V. (EURONEXT Amsterdam: PHARM/Nasdaq: PHAR) is a global biopharmaceutical company dedicated to transforming the lives of patients with rare, debilitating, and life-threatening diseases. Pharming is commercializing and developing an innovative portfolio of protein replacement therapies and precision medicines, including small molecules, biologics, and gene therapies that are in early to late-stage development. Pharming is headquartered in Leiden,
Netherlands , and has employees around the globe who serve patients in over 30 markets in
North America , Europe , the
Middle East , Africa , and
Asia-Pacific . For more information, visit www.pharming.com.
Sijmen de Vries, CEO: T: +31 71 524 7400
Victoria Foster Mitchell / Alex Shaw
T: +44 203 727 1000
Leon Melens
T: +31 6 53 81 64 27
E: pharming@lifespring.nl
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