Wednesday, August 31, 2005

US Army bandage; PHARM.AS

My fundamental play Pharming brought some good news out this morning;

Pharming’s Recombinant Human Fibrinogen Selected For US Army Project ...
Biotech company Pharming Group N.V. (“Pharming” or “the Company”) (Euronext: PHARM) (PHARM.AS) announced today that its recombinant human fibrinogen (rhFIB) product has been selected for a US Army project.

Pharming’s rhFIB will be utilized in a US Army research project focusing on the development of fibrin bandages. For the supply of rhFIB and technical participation in the project, the Company will receive payments over the next year.

“We are pleased with the selection of our recombinant human fibrinogen product in the US Army project,” said Samir Singh, CBO at Pharming. “Given its commercial potential, Pharming intends to supply this unique material for the development of a number of end products.”

Pharming’s immediate focus is to develop recombinant human fibrinogen as an intermediate product for supply to companies and institutions. In addition, the Company is developing proprietary end products using rhFIB, such as the recombinant tissue sealant, to control bleeding in trauma situations.
Complete press release

The good news of this press release is the fact that Pharming will receive payments over the next year. Furthermore Singh is talking about a number of end products. So there is an announcement for more than one product.

All good news and the stock is currently up 3,38%


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