Pharming in deal with Hyupjin for Ruconest in South Korea

Dutch biotech firm Pharming Group (NYSE Euronext: PHARM) has entered into an agreement with Seoul-based Hyupjin Corp, to commercialize Ruconest (recombinant human C1 inhibitor) for the treatment of acute attacks of Hereditary Angioedema (HAE) in South Korea.

Under the terms of the accord, financial terms of which were not disclosed, Hyupjin will drive the regulatory approval in Korea and purchase its commercial supplies of Ruconest, also known as Rhucin in non-European territories, from Pharming at a fixed transfer price.

"The collaboration with a well-established company such as Hyupjin Corporation, as part of our ongoing efforts to extend the commercialization of Ruconest is very exciting for us" said Sijmen de Vries, chief executive of Pharming. "We are very much looking forward to having Ruconest distributed by such an experienced partner in Korea. With this agreement with Hyupjin Corporation, we now have two strong partners in Asia for the distribution of Ruconest, whilst discussions continue with potential partners for other territories."