1. In Vivo
  2. >>Global Vision

Pharming: Back from the Brink of Bankruptcy

 
• By Hazel Dawson

Two years ago it looked as if all was lost at Pharming: escalating costs for its Pompe's disease program and indebtedness to its JV partner Genzyme forced it into legal moratorium in August 2001. Today, Pharming's back in the game; indeed, its new management, slimmed down operations and heightened focus on cost control mirrors the many other European biotechs trying to adapt to the harsh winter. But Pharming could have avoided near death by not turning its development partner into its biggest creditor. Still, the firm's turnaround-even this far-shows a reassuring willingness among Europe's investors to assume risk and give companies another chance.

Pharming Group NV was spun out of GenPharm International Inc. (now part of Medarex Inc.[See Deal]) in 1995 to develop transgenic animals whose milk would yield therapeutic proteins [See Deal]. The idea was that transgenic production methods would offer advantages over harvesting proteins from human serum, such as a more dependable supply, lower costs and a reduced risk of the transfer of human viral diseases to patients.

Pharming's prime focus was alpha glucosidase, made from rabbit milk. Unlike the firm's other proteins, this could not be produced...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on In Vivo for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Global Vision

UK Bets On Regulatory Innovation As Competitive Advantage In Synthetic Biology

 
• By David Wild

The UK government has prioritized synthetic biology and created a "concierge service" for biotechs just as the US cuts science funding.

Chinese Firms Build Obesity Clinical Pipeline But Face Wider Hurdles

 
• By Xu Hu

Despite the ability to initiate clinical trials quickly and having strong manufacturing capacity, Chinese companies are facing multiple challenges in the obesity space.

Unpacking The Impact Of Trump’s Tariffs On Drug Pricing And Production

 
• By Ed Silverman

Big pharma plans to invest billions of dollars in US manufacturing to avoid tariffs proposed by the Trump Administration. However, the implementation of these plans may be delayed due to regulatory complexities and rising costs from tariffs, potentially impacting drug prices for consumers.

Barcelona’s S2 Xpeed Accelerates Hardware-Based Medtech Start-Ups From Prototype To Market

 
• By Marion Webb

S2 Xpeed is driving the rapid growth of medtech and hardware start-ups in Europe. Operating under a "sweat equity" model, the program helps early-stage companies move from prototype to manufacturing readiness in exchange for equity.

More from In Vivo

Crisis Or Opportunity? US MFN Policy Could Test Japan’s Appetite For Reforms

 
• By Lisa Takagi

While the adoption of most favored nation drug pricing in the US stands to affect Japanese biopharma firms now heavily reliant on this market, it might also present an opportunity for pricing and policy reforms at home.

Rising Leaders 2025: Ovid’s Meg Alexander On Neurology’s Next Frontier

 
• By Jo Shorthouse

Ovid Therapeutics' president and COO Meg Alexander is leading the company’s strategic pivot toward innovative neurological treatments, potentially creating a new class of medicines for rare neurological disorders.

The Goldilocks Isotope: Perspective Therapeutics’ ‘Just Right’ Alpha Radiotherapeutic

 
• By David Wild

Thijs Spoor's bet on lead-212 is paying off as Perspective Therapeutics advances three clinical programs with promising early efficacy signals and a comprehensive manufacturing strategy.