Pharming buys Dnage

Leiden-based biotechnology firm Pharming Group NV has signed a heads of agreement to acquire the outstanding share capital of fellow Dutch company DNage, a privately-held group focused on the discovery and development of products for aging diseases and cancer. Under the terms of the deal, which is expected to complete by the end of May, Pharming will pay four million shares in several installments to DNage's existing holders, plus future milestones based on development targets and royalties on future product sales.