Leiden – Pharming has raised a70 million in a private placement of convertible bonds due in 2012. The company will buy back royalty rights to future revenues from four Pharming products, thereby ending a 2006 deal with Paul Capital Healthcare funds. The deal had covered Rhucin recombinant human complement 1 esterase inhibitor for the treatment of hereditary angioedema, recombinant fibrinogen for wound healing, recombinant collagen for medical and industrial applications, and recombinant lactoferrin for use in food products. Originally, Pharming had received $20 million for the rights. To buy them back, Pharming will pay a20 million to Paul Capital. Without the termination agreement, Paul Capital would have been eligible for a12 million in payments in 2008.