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news.Pharming Group has announced that it has discontinued the funding of DNage. DNage could not secure new investors and its shareholders have decided to put it into voluntary liquidation.
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The biotech company during July last year completed the spin-off of DNage as part of which the DNage was to get a bridge funding from the parent company to allow DNage time to bring in new investors.
The spin-off of DNage was part of Pharming’s strategy to focus on the commercialisation of lead product Ruconest for acute hereditary angioedema (HAE) attacks, its clinical development for follow-on indications in the field of transplantation and making Pharming financially sustainable on the basis of future revenues from the priority drug development projects.
Pharming has developed Ruconest approved for the treatment of angioedema attacks in patients with HAE in all 27 EU countries in addition to Norway, Iceland and Liechtenstein.