REG - Faron Pharma. Oy - Appointment of Chief Financial Officer

Faron Pharmaceuticals OyAnnouncement

29/03/2023 07:00

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RNS Number : 5435U  Faron Pharmaceuticals Oy  29 March 2023

Faron Pharmaceuticals Oy

("Faron" or the "Company")

 

 

Faron Appoints James O'Brien, CPA, MBA as Chief Financial Officer

 

Company announcement, March 29, 2023 at 09:00 AM (EEST) / 07:00 AM (BST) /
02:00 AM (EST)

 

TURKU, FINLAND / BOSTON, MA - Faron Pharmaceuticals Oy (AIM: FARN, First
North: FARON), a clinical stage biopharmaceutical company focused on tackling
difficult-to-treat cancers, is pleased to announce the appointment of James
O'Brien, CPA, MBA as the Company's new Chief Financial Officer (CFO),
effective April 3, 2023. Mr. O'Brien succeeds Toni Hänninen, who is leaving
Faron to pursue another career opportunity.

 

Mr. O'Brien is an accomplished biotech and financial executive with extensive
experience in the US capital markets. His appointment highlights Faron's
progression towards becoming a global biopharmaceutical company.

 

"I am thrilled to welcome James to Faron considering his strong record of
performance in public markets, capital raising in the US, business development
and strategic planning," said Markku Jalkanen, CEO of Faron Pharmaceuticals.
"His US business acumen will be a crucial asset for our Company as we plot out
the clinical development plan for our lead asset bexmarilimab.

 

"I would also like to thank Toni for his service to Faron over the years. His
partnership and contributions have been invaluable and key to the success of
our Company to date. We wish him the best in his next role."

 

Most recently, Mr. O'Brien served as the CFO of Cognition Therapeutics, Inc.
(NASDAQ: CGTX), a clinical-stage biopharmaceutical company which successfully
completed an IPO in October 2021, raising USD 52 million. He previously served
as Executive Vice President of Finance with Enzo Biochem, Inc. (NYSE: ENZ).
Earlier in his career, he held positions with increasing responsibilities at
pharmaceutical companies including Actavis PLC (now AbbVie, Inc. (NYSE:
ABBV)), the US subsidiary of Swiss company Nycomed, which has since been
acquired by Takeda Pharmaceuticals, and Bristol Myers Squibb. He spent close
to a decade at PricewaterhouseCoopers and is a certified public accountant
(CPA) with a Bachelor of Accountancy from George Washington University and a
Master of Business Administration from Fordham University.

 

"I am pleased to join Faron, bringing my strong background in the US biotech
and pharma financial sectors to drive the Company successfully forward," said
Mr. O'Brien.

 

For more information please contact:

 

Media Contact

Faron Pharmaceuticals

Jennifer C. Smith-Parker

Head of Communications

Jennifer.Smith-Parker@faron.com (mailto:Jennifer.Smith-Parker@faron.com)

 

Investor Contact

Faron Pharmaceuticals

Julia Balanova

VP, Investor Relations

julia.balanova@faron.com (mailto:julia.balanova@faron.com)

investor.relations@faron.com (mailto:investor.relations@faron.com)

Phone: +1 (917) 306-6096

 

Cairn Financial Advisers LLP, Nomad

Sandy Jamieson, Jo Turner

Phone: +44 (0) 207 213 0880

Peel Hunt LLP, Broker

Christopher Golden, James Steel

Phone: +44 (0) 20 7418 8900

 

Sisu Partners Oy, Certified Adviser on Nasdaq First North

Juha Karttunen

Phone: +358 (0)40 555 4727

Jukka Järvelä

Phone: +358 (0)50 553 8990

 

Consilium Strategic Communications
Mary-Jane Elliott, David Daley, Lindsey Neville
faron@consilium-comms.com (mailto:faron@consilium-comms.com)

Phone: +44 (0)20 3709 5700

 

About Faron Pharmaceuticals Oy

Faron Pharmaceuticals Oy (AIM: FARN, First North: FARON) together with its
subsidiaries, is a clinical stage biopharmaceutical group focused on building
the future of immunotherapy by harnessing the power of the immune system to
tackle cancer and inflammation. Bexmarilimab, a novel anti-CLEVER-1 humanized
antibody, is its investigative precision immunotherapy with the potential to
provide permanent immune stimulation for difficult-to-treat cancers through
targeting myeloid function. Currently in Phase I/II clinical development as a
potential therapy for patients with hematological cancers and untreatable
solid tumors, bexmarilimab has potential as a single-agent therapy or in
combination with other standard treatments including immune checkpoint
molecules. In terms of other pipeline assets, Traumakine® is an
investigational intravenous (IV) interferon beta-1a therapy for the treatment
of hyperinflammatory conditions. Faron is headquartered in Turku, Finland.
Further information is available at www.faron.com (http://www.faron.com/) .

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