Pharming Completes Acquisition of ProBio, Inc.

Apr 03, 2001, 01:00 ET from Pharming Group N.V.

    LEIDEN, Netherlands, April 3 /PRNewswire/ -- Pharming Group N.V.
 (AEX: PHAR; Nasdaq Europe) ("Pharming") has completed the acquisition of
 ProBio, Inc. ("ProBio"), a US-based provider of intellectual property rights
 to key nuclear transfer, transgenic, and reproductive technologies (Pharming
 press release dated November 28, 2000).
     No ordinary shares will be issued to finance the transaction.  Pharming
 will transfer shares held in its own capital to the former ProBio shareholders
 instead.  The share price used in this transaction is locked at EUR 12.52 per
 Pharming share.  Pharming has decided not to raise funds to support ProBio's
 operational expenses.
     Milestone payments of up to US $4 million in total will be made in
 Pharming shares to the former ProBio shareholders over the next two years,
 dependent on ProBio achieving several clearly defined commercial and technical
 milestones.
     Pharming focuses on the development, production and commercialization of
 human therapeutic proteins to be used in highly innovative therapies.
 Pharming has developed a proprietary production platform of transgenic
 animals, capable of producing human therapeutic proteins at high levels in
 their milk.  Pharming's product portfolio is aimed at treatments for genetic
 disorders, blood-related disorders, infectious and inflammatory diseases,
 tissue and bone damage, and surgical and traumatic bleeding.  Pharming has
 operations in Belgium, Finland, the Netherlands and the USA and currently
 employs more than 200 people.  For more information: www.pharming.com.
     ProBio Inc. is a provider of advanced animal reproductive, modification
 and associated technologies for use in agriculture and medicine.  ProBio
 markets and licenses a portfolio of synergistic intellectual property in the
 area of nuclear transfer, assisted sexual and asexual reproduction, gene
 transfer and genome storage.  By taking the role of both provider and
 discovery agent of IP that is currently under-exploited or not exploited,
 ProBio provides a return for the originators of the technology and to those
 wishing to use it in a mutually advantageous way.  Additionally, its
 commercial arrangements allow the company to take full benefit of extensions
 and adaptations of the technology under its control.  For more information:
 www.probioinc.com.
 
 

SOURCE Pharming Group N.V.
    LEIDEN, Netherlands, April 3 /PRNewswire/ -- Pharming Group N.V.
 (AEX: PHAR; Nasdaq Europe) ("Pharming") has completed the acquisition of
 ProBio, Inc. ("ProBio"), a US-based provider of intellectual property rights
 to key nuclear transfer, transgenic, and reproductive technologies (Pharming
 press release dated November 28, 2000).
     No ordinary shares will be issued to finance the transaction.  Pharming
 will transfer shares held in its own capital to the former ProBio shareholders
 instead.  The share price used in this transaction is locked at EUR 12.52 per
 Pharming share.  Pharming has decided not to raise funds to support ProBio's
 operational expenses.
     Milestone payments of up to US $4 million in total will be made in
 Pharming shares to the former ProBio shareholders over the next two years,
 dependent on ProBio achieving several clearly defined commercial and technical
 milestones.
     Pharming focuses on the development, production and commercialization of
 human therapeutic proteins to be used in highly innovative therapies.
 Pharming has developed a proprietary production platform of transgenic
 animals, capable of producing human therapeutic proteins at high levels in
 their milk.  Pharming's product portfolio is aimed at treatments for genetic
 disorders, blood-related disorders, infectious and inflammatory diseases,
 tissue and bone damage, and surgical and traumatic bleeding.  Pharming has
 operations in Belgium, Finland, the Netherlands and the USA and currently
 employs more than 200 people.  For more information: www.pharming.com.
     ProBio Inc. is a provider of advanced animal reproductive, modification
 and associated technologies for use in agriculture and medicine.  ProBio
 markets and licenses a portfolio of synergistic intellectual property in the
 area of nuclear transfer, assisted sexual and asexual reproduction, gene
 transfer and genome storage.  By taking the role of both provider and
 discovery agent of IP that is currently under-exploited or not exploited,
 ProBio provides a return for the originators of the technology and to those
 wishing to use it in a mutually advantageous way.  Additionally, its
 commercial arrangements allow the company to take full benefit of extensions
 and adaptations of the technology under its control.  For more information:
 www.probioinc.com.
 
 SOURCE  Pharming Group N.V.