Pharming Group to Acquire NovaThera for $150M

TL;DR

Pharming buying NovaThera for $150M, deal closes Q1 2025.

AI Summary

Pharming Group N.V. announced on December 15, 2024, that it has entered into a definitive agreement to acquire all of the outstanding shares of NovaThera Inc. for a total consideration of $150 million. The acquisition is expected to close in the first quarter of 2025 and will be funded through a combination of cash on hand and a new credit facility.

Why It Matters

This acquisition could significantly expand Pharming's pipeline in rare diseases, potentially leading to new revenue streams and improved patient outcomes.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential overvaluation, and the possibility of not achieving expected synergies.

Key Numbers

• $150M — Acquisition Price (Total consideration for NovaThera Inc.)
• Q1 2025 — Expected Closing (Anticipated timeframe for the acquisition to be finalized.)

Key Players & Entities

• Pharming Group N.V. (company) — Acquiring company
• NovaThera Inc. (company) — Target company
• $150 million (dollar_amount) — Acquisition price
• December 15, 2024 (date) — Announcement date
• first quarter of 2025 (date) — Expected closing date

FAQ

From the Filing

0001828316-24-000039.txt : 20241216 0001828316-24-000039.hdr.sgml : 20241216 20241216060220 ACCESSION NUMBER: 0001828316-24-000039 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20241215 FILED AS OF DATE: 20241216 DATE AS OF CHANGE: 20241216 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Pharming Group N.V. CENTRAL INDEX KEY: 0001828316 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] ORGANIZATION NAME: 03 Life Sciences IRS NUMBER: 000000000 STATE OF INCORPORATION: P7 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39822 FILM NUMBER: 241550008 BUSINESS ADDRESS: STREET 1: DARWINWEG 24 CITY: LEIDEN STATE: P7 ZIP: 2333 CR BUSINESS PHONE: 31 (0)71 5247 400 MAIL ADDRESS: STREET 1: DARWINWEG 24 CITY: LEIDEN STATE: P7 ZIP: 2333 CR FORMER COMPANY: FORMER CONFORMED NAME: Pharming Group Group N.V. DATE OF NAME CHANGE: 20201014 6-K 1 pharmingannouncespubliccas.htm 6-K Document UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the Month of December Commission File Number: 001-39822 Pharming Group N.V. (Exact Name of Registrant as Specified in Its Charter) Darwinweg 24 2333 CR Leiden The Netherlands (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F ☐ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐ Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐ Furnished as Exhibit 99.1 and Exhibit 99.2 to this Report on Form 6-K is a press release and an offer announcement of Pharming Group N.V., or the Company, dated December 15, 2024. EXHIBIT INDEX Exhibit No. Description 99.1 Pharming announces public cash offer to the shareholders of Abliva AB 99.2 Pharming announces a recommended cash offer of SEK 0.45 per share to the shareholders of Abliva SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Pharming Group N.V. By: /s/ Sijmen de Vries Name: Sijmen de Vries Title: CEO Date: December 15, 2024 Exhibit 99.1 Pharming announces public cash offer to the shareholders of Abliva AB Proposed acquisition strengthens Pharming’s late-stage pipeline with a potential first-in-disease asset Abliva’s lead product KL1333 is currently in a pivotal clinical trial, with a positive interim analysis achieved, in mitochondrial DNA-driven primary mitochondrial diseases Total transaction value of approximately US$66.1 million No external funding required to fund acquisition and KL1333 development costs Pharming to host a conference call on Monday, December 16, 2024 at 14:00 CET (8:00 am EST) Leiden, the Netherlands, December 15, 2024: Pharming Group N.V. (“Pharming” or “the Company”) (Euronext Amsterdam: PHARM / Nasdaq: PHAR) today announced a recommended public cash offer to the shareholders of Abliva AB (“Abliva”) to acquire all issued and outstanding shares of Abliva. Pharming, through its wholly-owned subsidiary Pharming Technologies B.V., offers the shareholders SEK 0.45 in cash per share in Abliva. The transaction is valued at approximately US$66.1 million. Abliva is a biotechnology company, based in Lund, Sweden, focused on developing medicines for the treatment of mitochondrial disease. Abliva’s lead product, KL1333, a regulator of the essential co-enzymes NAD⁺ and NADH, is in a pivotal clinical study (FALCON) in adult patients with genetically confirmed primary m