REG - Faron Pharma. Oy - Board Change

Faron Pharmaceuticals OyAnnouncement

30/04/2024 13:00

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RNS Number : 6380M  Faron Pharmaceuticals Oy  30 April 2024

Faron Pharmaceuticals Ltd.

("Faron" or the "Company")

 

 

Board Change

 

 

Company announcement, April 30, 2024 at 15:00 (EEST) / 1:00 PM (BST) / 8:00 AM
(EDT)

 

TURKU, FINLAND / BOSTON, MA  Further to the announcement of 8 April 2024,
Faron Pharmaceuticals Ltd. (AIM: FARN, First North: FARON), a clinical-stage
biopharmaceutical company pursuing a CLEVER approach to reprogramming myeloid
cells to activate anti-tumor immunity in hematological and solid tumor
microenvironments, is pleased to announce the appointment of Dr. Juho Jalkanen
as director and Chief Executive Officer of the Company starting first of May
2024. Additionally, further to the announcement of 8 April 2024, the Company
announces that as of the date of this announcement, Dr. Markku Jalkanen has
stepped down from his role as Chief Executive Officer and will continue as
member of the board of directors of Faron.

 

Dr. Juho Markku Jalkanen (aged 46) currently serves as the Chief Operating
Officer of Faron Pharmaceuticals since 2022 and has worked at Faron in various
roles since 2006; as Deputy Member of the Board from 2006 to 2007, Director
from 2013 to 2017 and Chief Development Officer from 2018.  Dr Jalkanen
worked at Turku University Hospital from 2008 to 2017, latterly as a
Specialist Consultant in Vascular Surgery, having been a Medical General
Practitioner (GP) from 2007 to 2008.  Dr Jalkanen graduated from the
University of Turku, Finland in 2005 with an MSc International Business
Administration & Economics.  During his studies he worked as a Researcher
and conducted his Master's thesis concerning the Finnish Pharma Cluster.  Dr
Jalkanen became MD in 2007 and obtained a PhD in Molecular Medicine and
Vascular Surgery in 2017.

 

The following information regarding the appointment of Dr. Jalkanen is
disclosed under Schedule 2(g) of the AIM Rules for Companies and Nasdaq First
North Growth Market Rulebook.

 

 Current positions, directorships and/or partnerships:  Former positions, directorships and/or partnerships (within the last five

                                                      years):

 Inflames Pharma Oy                                     PharMart Oy

 Kiinteistö Oy Pyhälinna                                Piedino Financing Oy

                                                        Sisukas Limited

 

Dr. Jalkanen has an interest in 1,023,888 ordinary shares in the Company,
approximately 1.42% of the Company's issued share capital.  He also holds
232,270 options in the Company.

 

Dr. Jalkanen was appointed a director of PharMart Oy on 29 October 2013. In
2018 the company was placed into receivership and following the completion of
the process was liquidated 25 March 2019.

 

Save as set out above, no further information regarding Dr. Jalkanen is
required to be disclosed pursuant to the AIM Rules for Companies or Nasdaq
First North Growth Market Rulebook.

 

Tuomo Patsi, Chairman of the Board of Faron Pharmaceuticals, said "I am
pleased to welcome Juho as Chief Executive Officer of the Company. This is a
pivotal time for Faron as we advance the bexmarilimab development program and
approach key milestones. Juho has demonstrated his abilities in his prior
roles at Faron and is well positioned to lead the company in its mission is to
bring the promise of immunotherapy to more patients."

 

 

For more information please contact:

 

 

Faron Pharmaceuticals

Investor Contact

LifeSci Advisors

Daniel Ferry

Managing Director

daniel@lifesciadvisors.com (mailto:daniel@lifesciadvisors.com)

+1 (617) 430-7576

 

ICR Consilium

Mary-Jane Elliott, David Daley, Lindsey Neville

Phone: +44 (0)20 3709 5700

Faron@consilium-comms.com

 

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

 

 

About Bexmarilimab

Bexmarilimab is Faron's wholly owned, investigational immunotherapy designed
to overcome resistance to existing treatments and optimize clinical outcomes,
by targeting myeloid cell function and igniting the immune system.
Bexmarilimab binds to Clever-1, an immunosuppressive receptor found on
macrophages leading to tumor growth and metastases (i.e. helps cancer evade
the immune system). By targeting the Clever-1 receptor on macrophages,
bexmarilimab alters the tumor microenvironment, reprogramming macrophages from
an immunosuppressive (M2) state to an immunostimulatory (M1) one, upregulating
interferon production and priming the immune system to attack tumors and
sensitizing cancer cells to standard of care.

 

About Faron Pharmaceuticals Ltd.

Faron (AIM: FARN, First North: FARON) is a global, clinical-stage
biopharmaceutical company, focused on tackling cancers via novel
immunotherapies. Its mission is to bring the promise of immunotherapy to a
broader population by uncovering novel ways to control and harness the power
of the immune system. The Company's lead asset is bexmarilimab, a novel
anti-Clever-1 humanized antibody, with the potential to remove
immunosuppression of cancers through targeting myeloid cell function.
Bexmarilimab is being investigated in a Phase I/II clinical trial as a
potential therapy for patients with hematological cancers in combination with
other standard treatments. Further information is available at www.faron.com
(https://eur01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.faron.com%2F&data=05%7C01%7C%7Ca4ae0afa96854c5c5f2a08db771ae20d%7Ca2d9b7a432f64a96b03727499230d5fd%7C1%7C0%7C638234729855975666%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=%2FNadoN9wXIGZtfCkFVuLSTXPpNg3%2BBXoRfIQaIPce6k%3D&reserved=0)
.

 

 

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