Faron Pharmaceuticals: Faron Pharmaceuticals Ltd: Results of the Extraordinary General Meeting

Faron Pharmaceuticals OyAnnouncement

02/03/2026 10:00

Faron Pharmaceuticals Ltd | Company announcement | March 02, 2026 at 12:00:00
EET

TURKU - FINLAND 2 March 2026 – Faron Pharmaceuticals Ltd (AIM: FARN, First
North: FARON), a clinical-stage biopharmaceutical company focused on tackling
cancers via novel immunotherapies, announces that the extraordinary general
meeting (the "EGM") of the Company took place today, 2 March 2026 in Turku,
Finland. The EGM approved the proposal of the Board of Directors ("Board") as
set out in the notice to the EGM published on 9 February 2026.

Decisions of the EGM

Authorising the Board to resolve on the rights offering

The Board was authorized by the EGM to resolve on the issuance of a maximum of
80,000,000 new shares in a rights offering as follows:

The new shares to be issued based on the authorisation will be offered to the
Company's shareholders for subscription pursuant to their pre-emptive
subscription rights in the same proportion as they already hold shares in the
Company. Shares that remain unsubscribed at the end of the subscription period
of the rights offering on the basis of shareholders' pre-emptive subscription
rights may be offered on a secondary basis for subscription to other
shareholders or third parties. The Board is authorised to decide to whom such
shares that remain unsubscribed, if any, are offered to. In the event that
shares are to be issued to potential subscription guarantors in a secondary
offering, the Company is authorised to issue the shares to itself first
without consideration to enable delivery versus payment in respect of such
subscription guarantors (without the authorisation being exercised twice in
respect of such shares). The Board is authorised to resolve on all other terms
and conditions of the rights offering, including the subscription and payment
period and the grounds for determining the subscription price.

The authorisation is valid until 30 June 2026 and does not revoke the
authorisation granted to the Board by the Annual General Meeting on 21 March
2025 to resolve on issuances of shares, option rights or other special rights
entitling to shares.

Minutes of the EGM
The minutes of the EGM will be available on the Company’s website on 16 March
2026 at the latest.

About bexmarilimab

Bexmarilimab is Faron’s wholly owned, investigational immunotherapy designed
to overcome resistance to existing treatments by targeting Clever-1, a
receptor on immunosuppressive macrophages and malignant blasts. By inhibiting
Clever-1, bexmarilimab reprograms the tumor microenvironment to ignite a
potent anti-tumor immune response.

About BEXMAB

The BEXMAB study is an open-label Phase I/II clinical trial
investigating bexmarilimab in combination with standard of care (SoC) in the
aggressive hematological malignancies of acute myeloid leukemia (AML) and
myelodysplastic syndrome (MDS). The primary objective is to determine the
safety and tolerability of bexmarilimab in combination with SoC (azacitidine)
treatment.

About Faron Pharmaceuticals Ltd.

Faron Pharmaceuticals (AIM: FARN, First North: FARON) is a global,
clinical-stage biopharmaceutical company, focused on creating innovative
cancer treatments that leverage the patient’s own immune system. The Company’s
lead asset bexmarilimab is currently being investigated in Phase I/II clinical
trial as a potential therapy for patients with hematological cancers in
combination with other standard treatments.

For more information, please contact:

+-------------------------------------+--------------------------------------+
| IR Partners, Finland                |                                      |
| (Media)                             | +358 50 553 9535 / +44 7 469 766 223 |
|                                     | kare.laukkanen@irpartners.fi         |
| Kare Laukkanen                      |                                      |
+-------------------------------------+--------------------------------------+
| FINN Partners, US                   | +1 847 791-8085                      |
| (Media)                             | alyssa.paldo@finnpartners.com        |
| Alyssa Paldo                        |                                      |
+-------------------------------------+--------------------------------------+
| Cairn Financial Advisers LLP        | +44 (0) 207 213 0880                 |
| (Nominated Adviser and Broker)      |                                      |
| Sandy Jamieson, Jo Turner           |                                      |
+-------------------------------------+--------------------------------------+
| Sisu Partners Oy                    | +358 (0)40 555 4727                  |
| (Certified Adviser on Nasdaq First  | +358 (0)50 553 8990                  |
| North)                              |                                      |
| Juha Karttunen                      |                                      |
| Jukka Järvelä                       |                                      |
+-------------------------------------+--------------------------------------+

Forward-Looking Statements

This press release contains certain forward-looking statements relating to the
business of Faron Pharmaceuticals. In addition, even if the actual results or
development of Faron Pharmaceuticals are consistent with the forward-looking
statements contained in this press release, those results or developments of
Faron Pharmaceuticals may not be sustained in the future. In some cases, you
can identify forward-looking statements by words such as “could,” “should,”
“may,” “expects,” “anticipates,” “believes,” “intends,” “estimates,” “aims,”
“targets,” or similar words. These forward-looking statements are based
largely on the current expectations of Faron Pharmaceuticals as of the date of
this press release and are subject to a number of known and unknown risks and
uncertainties and other factors that may cause actual results, performance or
achievements to be materially different from any future results, performance
or achievement expressed or implied by these forward-looking statements. In
particular, the expectations of Faron Pharmaceuticals could be affected by,
among other things, uncertainties and delays involved in the development of
product candidates, unexpected clinical trial results, unexpected regulatory
actions or delays, competition in general, currency fluctuations, inflation,
changes in tariff policies, political or macroeconomic developments, and the
ability to obtain or maintain patent or other proprietary intellectual
property protection. Success in preclinical studies or earlier clinical trials
may not be indicative of results in future clinical trials. In light of these
risks and uncertainties, there can be no assurance that the forward-looking
statements made in this press release will in fact be realized. Faron
Pharmaceuticals is providing this information as of the date of this press
release and disclaims any intention or obligation to publicly update or revise
any forward-looking statements, whether as a result of new information, future
events, or otherwise.

THE NEW SHARES ISSUED IN THE RIGHTS OFFERING WILL NOT BE REGISTERED UNDER THE
UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR
UNDER THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION OF THE UNITED
STATES, AND MAY NOT BE OFFERED, SOLD OR TRANSFERRED, DIRECTLY OR INDIRECTLY,
IN OR INTO OR FROM THE UNITED STATES EXCEPT PURSUANT TO AN EXEMPTION FROM, OR
IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT AND IN COMPLIANCE WITH ANY APPLICABLE SECURITIES LAWS OF ANY
STATE OR OTHER JURISDICTION OF THE UNITED STATES