Financial updates
Pharming Group announces completion of minority investment in BioConnection BV
Pharming Group N.V. announces that following the Company’s announcement on 29 March 2019, it has completed its investment of €1.6 million in cash and conversion of €2.5 million of prepayments into new equity in its Fill & Finish partner BioConnection BV, which manufactures the sterile sealed vials of Pharming’s product RUCONEST® from the purified drug substance.
Highlights:
- Pharming takes a significant minority stake in BioConnection BV, its world class fill & finish partner
- Pharming has acquired its shareholding through the conversion of €2.5 million of existing credits and €1.6 million of new cash subscription for a total of €4.1 million in BioConnection shares, plus additional shares acquired from existing investors.
- BioConnection’s independent management team is investing in increasing manufacturing and production capacity
''We are pleased to have completed our investment into BioConnection which has been an excellent partner for Pharming for many years, and is an important part of our future growth plans.''
- Sijmen de Vries -CEO