Pharming Shareholders appoint Sijmen de Vries as new CEO
LEIDEN, NETHERLANDS -- (Marketwire) -- 10/13/08 --
Leiden, The Netherlands, October 13, 2008. Biotech companyPharmingGroup NV ("Pharming" or "The Company") (Euronext: PHARM)announcedtoday the appointment of Dr Sijmen de Vries as ChiefExecutiveOfficer (CEO) of Pharming. This decision was taken bytheShareholders at an Extraordinary Meeting (EGM) held earlier today.Drde Vries will take up his position as of November 3, 2008assuccessor to Dr Francis J. Pinto who will retire at the nextAnnualGeneral Meeting of Shareholders (AGM) of the Company in 2009.Untilthen, Dr Pinto will stay on as Non-Executive Chairman oftheManagement Board to ensure a smooth transition.
Sijmen de Vries, MD, MBA, is a 48-year old Dutch national,withextensive senior level experience in both the pharmaceuticalandbiotechnology industries. He joins Pharming fromSwiss-based4-Antibody where he was CEO. Dr de Vries has also been CEOofMorphochem and prior to this spent many years at Novartis andatSmithKline Beecham Pharmaceuticals where he held senior businessandcommercial positions. Dr de Vries also holdsnon-executivedirectorships in two private life science companies.
"I am very excited by the opportunity that Pharming presents,"saidDr de Vries. "The Company, with late stage products movingtowardsthe market, plays to my strengths in global strategic marketingandcommercialization. I have strong confidence in the technologiesandproducts that are being developed by Pharming and believe that Icancontribute to the success of these commercial opportunities basedonmy experience built in pharma and biotech companies."
Dr Pinto commented: "Pharming is delighted to attract a CEOlikeSijmen at this stage of the Company's development. I havegreatconfidence in Pharming's ability to pursue the opportunities thatlieahead under his leadership and I am looking forward toworkingtogether in the coming months for a successful handover."
A transition plan will be put in place to focus on optimising thekeyaspects of Pharming's business. This plan includes a number oftaskforces for the period leading up to the next AGM:
* The Rhucin® task force will be led by Dr Giannetti, focusingon the upcoming Rhucin® filings;
* The DNage task force will focus on the development andpartnering of the DNage ageing products and will be led by Dr Strijker;
* The task force "Financing and Shareholder Value" led by DrPinto will be addressing the future financing of Pharming; and
* The task force further developing the Pharming organizationand 2009 plans and budgets will be led by Dr de Vries.
Mr Jaap Blaak, Chairman of Pharming's Board of SupervisoryDirectorssaid: "We are very pleased that the Shareholders have agreed totheappointment of Dr de Vries for the position of CEO of Pharming.Hismedical background and strong commercial track record will be avaluable addition to the management of Pharming. Dr de Vries hasextensive international business development and strategicmarketingexperience which will be of utmost importance to us as we focus onthe commercialisation of our lead products.
We are very grateful to Dr Pinto who became CEO of the Company inthemost difficult period of its existence and brought it where itistoday. Under his leadership, Pharming has made aremarkableturnaround and is close to having its first products on themarket.During his seven years as CEO, Dr Pinto was instrumental inraisingfunds for Pharming and remains a committed shareholder. We haveaskedDr Pinto to head the financing taskforce and are delighted thathehas agreed to remain associated with the Company to ensure asmoothtransition."
At the EGM, the majority of the Shareholders also voted in favourofthe proposed option arrangements for the CEO and the COO ofPharming,and the adaptation of the remuneration of the BOSD members.Theamendment of the Articles of Association of the Company wasacceptedand authorisation was given to effect the amendment of theArticlesof Association, which can be found on Pharming's website.
About Pharming Group NV
Pharming Group NV is developing innovative products for thetreatmentof genetic disorders, ageing diseases, specialty productsforsurgical indications, intermediates for various applicationsandnutritional products. Pharming has two products in latestagedevelopment - Rhucin® for Hereditary Angioedema and humanlactoferrinfor use in food products. The advanced technologies of theCompanyinclude innovative platforms for the production ofproteintherapeutics, technology and processes for the purificationandformulation of these products, as well as technology in the fieldofDNA repair (via DNage). Additional information is available onthePharming website, http://www.pharming.com.
This press release contains forward looking statements thatinvolveknown and unknown risks, uncertainties and other factors, whichmaycause the actual results, performance or achievements of theCompanyto be materially different from the results, performanceorachievements expressed or implied by these forwardlookingstatements. The press release also appears in Dutch. In the eventofany inconsistency, the English version will prevail over theDutchversion.