BioMarin Pharmaceutical Inc. Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
March 18 2015 - 8:00AM
BioMarin Pharmaceutical Inc. (Nasdaq:BMRN) today announced that on
March 16, 2015, the compensation committee of BioMarin's board of
directors approved the grant to 31 newly hired employees of 10,480
restricted share units in the aggregate.
The restricted share units were granted pursuant to the BioMarin
Pharmaceutical Inc. 2014 Inducement Plan, approved by the
compensation committee of BioMarin's board of directors on December
17, 2014, and were granted as inducements material to the new
employees entering into employment with BioMarin in accordance with
NASDAQ Listing Rule 5635(c)(4).
The restricted share units will vest in equal installments
annually over four years on the anniversary of the grant date,
assuming in each case the employee remains continuously employed by
BioMarin as of such date. BioMarin is providing this information in
accordance with NASDAQ Listing Rule 5635(c)(4).
About BioMarin
BioMarin develops and commercializes innovative
biopharmaceuticals for serious diseases and medical conditions. The
company's product portfolio comprises five approved products and
multiple clinical and pre-clinical product candidates. Approved
products include Vimizim® (elosulfase alfa) for MPS IVA, a product
wholly developed and commercialized by BioMarin; Naglazyme®
(galsulfase) for MPS VI, a product wholly developed and
commercialized by BioMarin; Aldurazyme® (laronidase) for MPS I, a
product which BioMarin developed through a 50/50 joint venture with
Genzyme Corporation; Kuvan® (sapropterin dihydrochloride) Powder
for Oral Solution and Tablets, for phenylketonuria (PKU), developed
in partnership with Merck Serono, a division of Merck KGaA of
Darmstadt, Germany; and Firdapse® (amifampridine), which has been
approved by the European Commission for the treatment of Lambert
Eaton Myasthenic Syndrome (LEMS). Product candidates include
drisapersen, an exon skipping oligonucleotide, which is currently
undergoing regulatory submission for the treatment of Duchenne
muscular dystrophy (exon 51); pegvaliase (PEGylated recombinant
phenylalanine ammonia lyase, formerly referred to as BMN 165 or PEG
PAL), which is currently in Phase 3 clinical development for the
treatment of PKU; talazoparib (formerly referred to as BMN 673), a
poly ADP-ribose polymerase (PARP) inhibitor, which is currently in
Phase 3 clinical development for the treatment of germline BRCA
breast cancer; reveglucosidase alfa (formerly referred to as BMN
701), a novel fusion protein of insulin-like growth factor 2 and
acid alpha glucosidase (IGF2-GAA), which is currently in Phase 3
clinical development for the treatment of Pompe disease; BMN 111, a
modified C-natriuretic peptide, which is currently in Phase 2
clinical development for the treatment of achondroplasia; BMN 044
and BMN 045, exon skipping oligonucleotides, which are currently in
Phase 2 clinical development for the treatment of Duchenne muscular
dystrophy (exons 44 and 45); BMN 053, an exon skipping
oligonucleotide, which is currently in Phase 1/2 clinical
development for the treatment of Duchenne muscular dystrophy (exon
53); cerliponase alfa (formerly referred to as BMN 190), a
recombinant human tripeptidyl peptidase-1 (rhTPP1), which is
currently in Phase 1/2 clinical development for the treatment of
CLN2 disorder, a form of Batten disease; BMN 270, an AAV-factor
VIII vector, for the treatment of hemophilia A; and BMN 250, a
novel fusion of alpha-N-acetyglucosaminidase (NAGLU) with a peptide
derived from insulin-like growth factor 2 (IGF2), for the treatment
of MPS IIIB.
For additional information, please visit www.BMRN.com.
Information on BioMarin's website is not incorporated by reference
into this press release.
Forward Looking Statements
This press release contains certain forward-looking statements
as that term is defined in the Private Securities Litigation Reform
Act of 1995 regarding, among other things, statements relating to
plans, objectives and future events. BioMarin intends such
forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in Section 21E
of the Securities Exchange Act of 1934, as amended, and the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements are based on the current expectations of the management
of BioMarin as of the date of this press release and are subject to
risks, uncertainties, changes in circumstances, assumptions and
other factors that may cause the actual results to be materially
different from those indicated by such forward-looking statements.
Important factors that could cause actual results to differ
materially from those indicated by such forward-looking statements
include, among other, market risks. These and other risks are
described in greater detail in BioMarin's filings with the
Securities and Exchange Commission (SEC), including its Annual
Report on Form 10-K for the year ended December 31, 2014. Given
these uncertainties, you should not place undue reliance on these
forward-looking statements. BioMarin assumes no obligation to
update its forward-looking statements, except as required by
law.
BioMarin®, Naglazyme®, Kuvan®, Firdapse® and Vimizim® are
registered trademarks of BioMarin Pharmaceutical Inc.
Aldurazyme® is a registered trademark of BioMarin/Genzyme
LLC.
CONTACT: Investors:
Traci McCarty
BioMarin Pharmaceutical Inc.
(415) 455-7558
Media:
Debra Charlesworth
BioMarin Pharmaceutical Inc.
(415) 455-7451
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