Sijmen de Vries, Pharming’s CEO, said: “The ability to attract this virtually non-dilutive growth capital financing on such favorable terms, from Oxford Finance and Silicon Valley Bank, represents an important validation of our business model, growth plans and financial stability. The funding enables us to accelerate the growth of the business by simultaneously financing the working capital required to support manufacturing for the increasing RUCONEST® sales and our investments in additional indications for RUCONEST, as well as the development of new products utilizing the strengths of our platform.”
“Oxford is pleased to have the opportunity to provide financing to foster Pharming’s continued growth and innovative product development,” said Christopher A. Herr, senior managing director for Oxford Finance. “The company has successfully marketed RUCONEST in numerous countries, and its highly respected executive team is committed to finding additional solutions for the treatment of critical medical needs.”
Nooman Haque, Director of UK Life Sciences & Healthcare for Silicon Valley Bank, added: “We are very pleased to be working with Pharming to help them bring innovative medical products to market. We look forward to our partnership with Pharming’s management team as they develop new products and pursue their business’ growth strategy.”