Abliva acquisition ups rare disease focus for Pharming

Dutch biotech Pharming (Euronext: PHARM) has announced a public cash offer to acquire all outstanding shares of Swedish firm Abliva (STO: ABLI) for $66 million.

The buy will bolster Pharming’s pipeline with Abliva’s lead asset, KL1333, a promising therapy for mitochondrial disease. Lund-based Abliva specializes in developing treatments for rare and debilitating conditions in this category.

Lead molecule KL1333 is in trials for people with mitochondrial DNA mutations causing fatigue, muscle weakness, and reduced life expectancy. Following a successful Phase Ib proof-of-concept trial, a planned interim analysis of the ongoing FALCON pivotal study has revealed promising efficacy compared to placebo.