Pharming announces public cash offer to the shareholders of
Pharming too Acquire Abliva in $66 Million Deal, Bolstering Rare Disease pipeline
Table of Contents
- Pharming too Acquire Abliva in $66 Million Deal, Bolstering Rare Disease pipeline
- Pharming Launches $66 Million Bid to Acquire Rare Disease Specialist Abliva
- Hope on the Horizon: Abliva’s KL1333 Shows Promise for Debilitating Mitochondrial Disease
- Pharming Launches Bid to acquire Swedish Biotech Abliva
- Pharming Group N.V. announces Major Expansion, Bringing Hundreds of Jobs to the Midwest
Leiden, Netherlands – December 15, 2024 – Pharming Group N.V.(EURONEXT amsterdam: PHARM/Nasdaq: PHAR) announced today a recommended public cash offer to acquire Abliva AB, a Swedish biotechnology company focused on developing treatments for mitochondrial disease. The deal, valued at approximately US$66.1 million, will see Pharming acquire all outstanding shares of Abliva for SEK 0.45 per share.This strategic acquisition strengthens Pharming’s late-stage pipeline with KL1333, Abliva’s lead product currently in a pivotal clinical trial for primary mitochondrial disease (PMD).
“Abliva has made exciting progress developing KL1333, a potential first-in-disease treatment undergoing a pivotal clinical trial that offers new hope to patients with rare mtDNA mitochondrial disease who experience debilitating fatigue and muscle weakness,” said Sijmen de Vries, Chief Executive Officer of Pharming.
KL1333, a regulator of essential co-enzymes NAD⁺ and NADH, has shown promising results in a Phase 1b study and a pre-planned interim analysis of the ongoing FALCON trial demonstrated encouraging differences over placebo. The therapy has received Fast Track designation in the U.S. and Orphan Drug Designation for the treatment of PMD in both the U.S. and EU.
With over 30,000 potential patients in the U.S., EU4 (France, Germany, Italy, Spain) and the UK, KL1333 holds significant commercial potential. Pharming anticipates a U.S. launch in 2028.
“We believe KL1333 has blockbuster potential in the U.S. alone and can significantly change Pharming’s future growth trajectory,” de Vries added.
Pharming plans to fund the acquisition using existing cash reserves and anticipates covering development costs with positive cash flows from its current business.
The acquisition has been unanimously supported by Abliva’s independent Board of Directors and major shareholders.
Pharming will host a conference call on Monday, December 16, 2024 at 14:00 CET (8:00 am EST) to discuss the acquisition in more detail.
About Pharming Group N.V.
Pharming is a global, science-driven biotechnology company dedicated to developing innovative therapies for patients with rare diseases.
About Abliva AB
Abliva is a Swedish biotechnology company focused on developing medicines for the treatment of mitochondrial disease.
Pharming Launches $66 Million Bid to Acquire Rare Disease Specialist Abliva
Leiden, Netherlands – pharming Group N.V., a Dutch biopharmaceutical company focused on developing innovative treatments for rare diseases, announced today a public offer to acquire all outstanding shares of Abliva AB, a Swedish biopharmaceutical company specializing in treatments for lysosomal storage disorders. The all-cash offer values Abliva at approximately SEK 725,348,041, or US$66.1 million.
pharming’s Board of Directors unanimously recommends that Abliva shareholders accept the offer, which has already secured acceptance undertakings from Abliva’s three largest shareholders, representing 49.82% of the company’s outstanding shares.
“This acquisition represents a significant step forward in our mission to bring life-changing therapies to patients with rare diseases,” said [Insert Name and Title of Pharming CEO]. “Abliva’s expertise in lysosomal storage disorders complements our existing portfolio and strengthens our position as a leading player in this field.”
The offer is subject to customary regulatory approvals, which Pharming expects to obtain before the end of the acceptance period. Pharming has sufficient cash on hand to fully finance the acquisition.
Key Details of the Offer:
Offer Price: SEK 1.50 per share
Total Value: SEK 725,348,041 (approximately US$66.1 million)
Acceptance Period: Expected to commence on or around January 16, 2025, and expire on or around February 7, 2025.
Offer Document: Will be made public by Pharming shortly before the commencement of the acceptance period.
Further Information:
for detailed information regarding the offer, please visit www.raredisease-offer.com.
Investor Call:
Pharming will host a conference call on Monday, December 16, 2024, at 14:00 CET (8:00 am EST) to discuss the acquisition.
[Insert details about how to register for the call and access the webcast]
About Pharming Group N.V.
Pharming is a Dutch biopharmaceutical company dedicated to developing and commercializing innovative therapies for patients with rare diseases.
about Abliva AB
Abliva is a swedish biopharmaceutical company focused on developing treatments for lysosomal storage disorders, a group of rare genetic diseases.
Hope on the Horizon: Abliva’s KL1333 Shows Promise for Debilitating Mitochondrial Disease
Stockholm, Sweden – A glimmer of hope is emerging for individuals living with the debilitating effects of primary mitochondrial disease. Abliva AB,a Swedish biopharmaceutical company,is making strides with KL1333,a promising drug candidate designed to combat chronic fatigue and muscle weakness associated with this complex genetic disorder.KL1333 targets the root cause of mitochondrial disease by restoring the balance of NAD+, a crucial coenzyme involved in energy production within cells. This innovative approach aims to improve mitochondrial function, leading to increased energy levels and a better quality of life for patients.Early clinical trials have shown encouraging results. In a Phase 1a/b study, patients receiving KL1333 experienced significant improvements in both fatigue and functional abilities. Building on this success, Abliva has launched the FALCON study, a global Phase 2 trial with the potential to pave the way for regulatory approval.
The FALCON study is a randomized, placebo-controlled trial enrolling 180 adult patients with confirmed mitochondrial DNA mutations. Participants are randomly assigned to receive either KL1333 or a placebo for 48 weeks. The study utilizes two primary endpoints: fatigue, measured using the PROMIS® Fatigue Mitochondrial Disease Short Form, and muscle weakness, assessed through the 30-second Sit-to-Stand test.
An interim analysis of the FALCON study, evaluating data from the first wave of patients, confirmed the strong safety profile of KL1333. Importantly, both primary endpoints passed futility analysis, indicating a strong likelihood of demonstrating benefit in the final analysis.
“These results are incredibly encouraging for the mitochondrial disease community,” said [Insert Name], CEO of Abliva AB. “KL1333 has the potential to be a game-changer for individuals struggling with the debilitating symptoms of this complex disorder.”
KL1333 has received orphan drug designation in both the United States and Europe, highlighting its potential to address a significant unmet medical need. The drug candidate has also received Fast Track designation in the United States, expediting its development and review process.
With the FALCON study progressing and promising early data,Abliva is moving closer to bringing a much-needed treatment option to patients living with primary mitochondrial disease.
Pharming Launches Bid to acquire Swedish Biotech Abliva
Leiden, Netherlands – Pharming Group N.V., a global biopharmaceutical company focused on rare diseases, announced today a public cash offer to acquire all outstanding shares of Abliva AB, a Swedish company developing treatments for mitochondrial diseases.
The offer, valued at [Insert Offer Value], represents a significant premium over Abliva’s current share price.Pharming aims to leverage Abliva’s expertise and pipeline to expand its portfolio of innovative therapies for patients with debilitating and life-threatening conditions.
“This acquisition aligns perfectly with our strategic goals of expanding our presence in rare diseases and delivering life-changing therapies to patients,” said [Insert Name and Title of Pharming executive]. ”Abliva’s promising pipeline, particularly its late-stage candidate KL1333 for mitochondrial disease, complements our existing portfolio and strengthens our commitment to addressing unmet medical needs.”
Mitochondrial diseases are a group of rare genetic disorders that affect the mitochondria,the powerhouses of cells. These diseases can cause a wide range of symptoms, including muscle weakness, fatigue, vision and hearing loss, and organ failure.
Abliva’s lead candidate, KL1333, is a novel regulator of NAD⁺ and NADH, essential co-enzymes involved in cellular energy production. the drug has shown promising results in clinical trials and is currently in late-stage development.
the acquisition is subject to customary closing conditions, including regulatory approvals.
About Pharming Group N.V.
Pharming Group N.V. 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 and biologics.
about Abliva AB
Abliva AB is a Swedish biopharmaceutical company focused on the discovery and development of medicines for the treatment of mitochondrial diseases.Abliva’s lead candidate, KL1333, is a powerful regulator of NAD⁺ and NADH, essential co-enzymes involved in cellular energy production.
[Insert Image of Pharming Logo]
[Insert Image of Abliva Logo]
Pharming Group N.V. announces Major Expansion, Bringing Hundreds of Jobs to the Midwest
Amsterdam, Netherlands – Pharmaceutical giant Pharming Group N.V. announced today a significant expansion of its U.S. operations, bringing hundreds of new jobs to the Midwest. The company, known for its innovative treatments for rare diseases, will establish a new state-of-the-art manufacturing facility in [Insert City and State].
“This expansion is a testament to our commitment to bringing life-changing therapies to patients in the United States,” said [Insert Name and Title of pharming Executive]. “The midwest offers a highly skilled workforce and a supportive business environment, making it the ideal location for our new facility.”
The new facility will focus on the production of Pharming’s flagship product, [Insert Product Name], a groundbreaking treatment for [Insert Disease]. The expansion is expected to create over [Insert Number] new jobs in manufacturing,research and development,and administrative roles.
[Insert Image: Image of pharming facility or rendering of new facility]
Local officials welcomed the news, highlighting the positive economic impact the expansion will have on the region.
“[Insert Quote from Local Official about the positive impact of the expansion],” said [Insert name and Title of Local Official].
Pharming Group N.V. has a long history of innovation in the pharmaceutical industry. The company’s commitment to research and development has led to the development of several groundbreaking therapies for rare diseases. This expansion marks a significant milestone for Pharming and underscores its dedication to improving the lives of patients worldwide.
These are great outlines for press releases about Pharming acquiring Abliva, highlighting Abliva’s development of KL1333 for mitochondrial disease. Here are some additional suggestions to make them even stronger:
General Points:
Conciseness: Aim for brevity and clarity.Reporters are busy,so get right to the point.
Strong Lead: Start each press release with a catchy,informative lead that summarizes the most significant details.
Quotes: Include quotes from key individuals at pharming and Abliva to add human interest and authority.
call to Action: In investor/business-oriented releases, include clear next steps for shareholders or interested parties.
Specific Suggestions for each Release:
Release 1 (Pharming Acquisition Declaration):
Lead: Highlight the acquisition price and the strategic reason behind it (strengthening Pharming’s pipeline with KL1333).
Expand on KL1333: Briefly describe the disease,the unmet need,and the potential of KL1333 (mention Phase 2 trial and regulatory designations).
Financial Details: Be specific about revenue projections and market potential for KL1333.
Release 2 (Pharming Launches Bid):
Focus: Emphasize Pharming’s confidence in Abliva’s technology and the potential of KL1333.
Acceptance Details: Clearly state the offer price, the acceptance period, and the percentage of shares already committed.
Regulatory Approvals: Mention the expected timeline for regulatory approvals.
Release 3 (KL1333 Progress):
Lead: Highlight the positive interim findings of the FALCON trial and potential safety and efficacy of KL1333.
Patient Viewpoint: Include a quote from a patient advocate or researcher about the impact of mitochondrial disease.
Next Steps: Explain the timeline for completing the FALCON trial and anticipated potential regulatory submissions.
Additional Tips:
Visuals: Include a photo of KL1333 or a relevant image related to mitochondrial disease.
Keywords: Use relevant keywords (e.g., mitochondrial disease, KL1333, Pharming, Abliva, rare diseases) for search engine optimization.
* Follow-up: after the initial release,consider issuing follow-up statements about any key developments in the clinical trial or the acquisition process.
By following these suggestions, you can craft compelling press releases that effectively communicate the important news about Pharming’s acquisition of Abliva and the promising potential of KL1333.