Pharming announces completion of financing for RUCONEST® North American Rights Acquisition
Pharming Group N.V. today announced that it has closed a new financing round, comprising three financial instruments and a rights issue, providing a total of €104 million before costs.
The financing will be used to pay the upfront amount of US$60 million (approximately €56.1 million) for completion of the transaction with subsidiaries of Valeant Pharmaceuticals International, Inc. (NYSE/TSX: VRX) signed on 9 August 2016 for Pharming to acquire the commercialization rights to its own high quality Heritary Angioedema therapy RUCONEST® in North America. The balance after costs of approximately €19.3 million will be used to boost sales of RUCONEST® in North America as well as in the additional countries in Western Europe and the Middle East in which Pharming is selling the product directly.
“We are very pleased to have put together a financing package that minimizes dilution of existing shareholders and brings additional high-quality investors.''- Sijmen de Vries - CEO
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