LEIDEN, Netherlands, July 12, 2005 (PRIMEZONE) -- Pharming Group N.V. ("Pharming" or "the Company") (Euronext:PHARM) (PHARM.AS) announced today a research collaboration with NovaThera Limited ("NovaThera"). NovaThera was founded to commercialize pioneering technologies emanating from the Tissue Engineering and Regenerative Medicine Department of Imperial College London, a world-class research center combining biology, biomaterials and bio-photonics expertise.
Pharming and NovaThera are to collaborate on combining NovaThera's proprietary biomaterial products with Pharming's recombinant proteins such as human collagen, fibrinogen, lactoferrin and C1 inhibitor. The collaboration takes advantage of the complementary capabilities of products from Pharming and Novathera and could provide Pharming with several new products.
"NovaThera's research capabilities in the fields of tissue engineering and regenerative medicine provide an exciting opportunity for Pharming," said Dr. Francis Pinto, CEO of Pharming. "Pharming will further strengthen its pipeline with new products and build on the value of its proprietary recombinant proteins."
"The collaboration with Pharming allows NovaThera to bridge academia, science and industry to develop new innovative products for various applications," said Gareth Roberts, CEO of NovaThera. Pharming retains commercial rights to the new products and ownership of the intellectual property developed in the collaboration. NovaThera will receive milestone payments and royalties linked to successful development of new products.
Background on Pharming Group N.V.
Pharming Group N.V. is developing innovative protein therapeutics for unmet medical needs. The Company's products include potential treatments for genetic disorders, specialty products for surgical indications, and intermediates for various applications. Pharming's lead product (recombinant human C1 inhibitor) for hereditary angioedema is in Phase III of clinical development. The advanced technologies of the Company include innovative platforms for the production of protein therapeutics, as well as technology and processes for the purification and formulation of these products. Additional information is available on the Pharming website, http://www.pharming.com.
Background on Novathera Ltd.
NovaThera Ltd. ("NovaThera") is a spin-out company of Imperial College London. It specializes in pioneering applications of biomaterials and stem cell biology for regenerative medicine and tissue engineering to provide innovative therapeutic solutions. NovaThera has a relationship with Imperial College to continue commercialization of the current and future technologies emanating from Tissue Engineering and Regenerative Medicine Centre ("TERM") of Imperial College London, a world-class research center combining biology, biomaterials and bio-photonics expertise. For more information about NovaThera, please visit http://www.novathera.com.
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.