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Pharming Enters Drug Development Pact with Sinopharm Subsidiary

Jul. 1, 2013

Pharming Group of the Netherlands announced a strategic collaboration with the Shanghai Institute of Pharmaceutical Industry (SIPI) to develop new products based on Pharming’s platform. SIPI, a Sinopharm company, also obtained exclusive China rights to Ruconest, a recombinant treatment for acute angioedema attacks in patients with hereditary angioedema. SIPI will pay Pharming $1.6 million upfront for the collaboration and $1.1 million in technology transfer milestones for the first product, Ruconest.