Pharming Released from CSL Behring Court Case
- CSL Behring and Pharming have mutually agreed that CSL will dismiss Pharming from the case against Dr. Chiao
- Pharming's dismissal did not involve any fault, liability, or penalties against Pharming and the temporary court injunction against Pharming is now terminated
- Pharming has terminated Dr. Chiao's employment
LEIDEN, Netherlands, Oct. 24, 2019 /PRNewswire/ -- Pharming Group N.V. (Euronext Amsterdam: PHARM) today announced that CSL Behring, a subsidiary of CSL Limited of Australia ("CSL"), has agreed to dismiss Pharming from its action against Pharming's former employee, Dr. Joseph Chiao. Pharming has permanently terminated the employment of Dr. Chiao. CSL and Pharming have worked, and will continue to work, collaboratively through the issues central to CSL's claims against Dr. Chiao. The parties continue to jointly conduct a forensic review, which we are confident will not uncover any evidence of confidential information, including personally identifiable information, being shared with Pharming by Dr. Chiao. Accordingly, the parties were able to reach mutual agreement for CSL voluntarily to dismiss Pharming from the case.
As Pharming anticipated, after review it became clear that Pharming did not encourage or induce Dr. Chiao's alleged actions at issue in the case during his recruitment and hiring at Pharming.
Sijmen de Vries, Chief Executive of Pharming, said:
"The voluntary dismissal by CSL Behring of Pharming in this legal case confirms our previous statement that Pharming did not induce or encourage Dr. Chiao to breach any rules or contract terms or in any way to remove any data from his former employer, nor did Pharming or our colleague Dr. Anurag Relan receive any of CSL Behring's confidential information from Dr. Chiao."
About Pharming Group N.V.
Pharming is a specialty pharmaceutical company developing innovative products for the safe, effective treatment of rare diseases and unmet medical needs. Pharming's lead product, RUCONEST® (conestat alfa) is a recombinant human C1 esterase inhibitor approved for the treatment of acute Hereditary Angioedema ("HAE") attacks in patients in Europe, the US, Israel and South Korea. The product is available on a named-patient basis in other territories where it has not yet obtained marketing authorization.
RUCONEST® is distributed by Pharming in Austria, France, Germany, Luxembourg, the Netherlands, the United Kingdom and the United States of America. Pharming holds commercialisation rights in Algeria, Andorra, Bahrain, Belgium, Ireland, Jordan, Kuwait, Lebanon, Morocco, Oman, Portugal, Qatar, Syria, Spain, Switzerland, Tunisia, United Arab Emirates and Yemen. In some of these countries distribution is made in association with the HAEi Global Access Program (GAP).
RUCONEST® is distributed by Swedish Orphan Biovitrum AB (publ) (SS: SOBI) in the other EU countries, and in Azerbaijan, Belarus, Georgia, Iceland, Kazakhstan, Liechtenstein, Norway, Russia, Serbia and Ukraine.
RUCONEST® is distributed in Argentina, Colombia, Costa Rica, the Dominican Republic, Panama, and Venezuela by Cytobioteck, in South Korea by HyupJin Corporation and in Israel by Kamada.
RUCONEST® is also being examined for approval for the treatment of HAE in young children (2-13 years of age) and evaluated for various additional follow-on indications.
Leniolisib is in final stage clinical development for Activated Phosphoinositide 3-kinase Delta Syndrome ("APDS"). Leniolisib is a small molecule phosphoinositide 3-kinase delta ("PIK3?") inhibitor developed by Novartis. Global rights to the product were obtained from Novartis in August 2019. Development of the compound through its current registration-enabling trial will be continued by Novartis and Pharming in partnership. Pharming will commercialise the treatment if it obtains approval from regulators.
Pharming's technology platform includes a unique, GMP-compliant, validated process for the production of pure recombinant human proteins that has proven capable of producing industrial quantities of high quality recombinant human proteins in a more economical and less immunogenetic way compared with current cell-line based methods. Leads for enzyme replacement therapy ("ERT") for Pompe and Fabry's diseases are being optimized at present, with additional programs not involving ERT also being explored at an early stage at present.
Pharming has a long-term partnership with the China State Institute of Pharmaceutical Industry ("CSIPI"), a Sinopharm company, for joint global development of new products, starting with recombinant human Factor VIII for the treatment of Haemophilia A. Pre-clinical development and manufacturing will take place to global standards at CSIPI and are funded by CSIPI. Clinical development will be shared between the partners with each partner taking the costs for their territories under the partnership.
Additional information is available on the Pharming website: www.pharming.com
This press release of Pharming Group N.V. and its subsidiaries ("Pharming", the "Company" or the "Group") may contain forward-looking statements including without limitation those regarding Pharming's financial projections, market expectations, developments, partnerships, plans, strategies and capital expenditures.
The Company cautions that such forward-looking statements may involve certain risks and uncertainties, and actual results may differ. Risks and uncertainties include without limitation the effect of competitive, political and economic factors, legal claims, the Company's ability to protect intellectual property, fluctuations in exchange and interest rates, changes in taxation laws or rates, changes in legislation or accountancy practices and the Company's ability to identify, develop and successfully commercialise new products, markets or technologies.
As a result, the Company's actual performance, position and financial results and statements may differ materially from the plans, goals and expectations set forth in such forward-looking statements. The Company assumes no obligation to update any forward-looking statements or information, which should be taken as of their respective dates of issue, unless required by laws or regulations.
For further public information, contact
Sijmen de Vries, CEO: T: +31-71-524-7400
Julia Phillips/ Victoria Foster Mitchell, T: +44-203-727-1136
LifeSpring Life Sciences Communication, Amsterdam, The Netherlands
Leon Melens, Tel: +31-6-53-81-64-27
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