Last month the Dutch biotech Pharming auctioned off its transgenic research facility for cattle in the U.S. Now the Dutch biotech says it will cut its staff as executives carve a few million dollars out of its budget, hunkering down as it works on wrapping a pivotal study while safeguarding ongoing collaborations.
"This restructuring will allow Pharming to implement the next steps in its business strategy: transitioning from a mainly internal research driven model to a market driven, externally focused, collaborative research and development model," said Sijmen de Vries, CEO. "It is clear that Pharming must adopt a leaner, more cash efficient business model if it is to survive in the longer term and we firmly believe that these actions will help to re-position Pharming to create value for our stakeholders."
Pharming didn't spell out exactly how many staffers are being terminated. But the company noted that it had filed plans with Dutch officials which are required when a company intends to lay off 20 or more people.
Under the new plan, the CEO says that Pharming is on track to complete its late-stage study of Ruconest--a treatment for acute attacks of angioedema in patients with HAE--and file a BLA with the FDA. The Phase III study is being carried out under an SPA. Santarus is partnered on the therapy in the U.S.
- here's the press release