REG - Faron Pharma. Oy - Board Changes

Faron Pharmaceuticals OyAnnouncement

22/09/2023 16:00

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RNS Number : 4150N  Faron Pharmaceuticals Oy  22 September 2023

Faron Pharmaceuticals Ltd.

("Faron" or the "Company")

 

 

Board Changes

 

 

Company announcement, September 22, 2023

 

TURKU, FINLAND / BOSTON, MA - Faron Pharmaceuticals Ltd. (AIM: FARN, First
North: FARON), a clinical-stage biopharmaceutical company focused on tackling
cancers via novel immunotherapies, is pleased to announce the appointment of
Ms. Christine Roth and Dr. Marie-Louise Fjällskog as Non-Executive Directors
of the Company with immediate effect following the passing of all resolutions
put to shareholders of the Company at the Extraordinary General Meeting held
earlier today.

 

Christine Ann Roth - Non-Executive Director

 

Ms. Christine Roth is a pharmaceutical executive with over three decades of
experience in the industry. She has played key roles in the development and
launch of several therapies, including the first immune-oncology therapy and
intentionally designed targeted therapy combinations. Her career includes
leadership positions at major pharmaceutical companies, such as Novartis,
Bristol-Myers Squibb, GlaxoSmithKline (GSK), and most recently, Bayer AG,
where she serves as the Executive Vice President of the Oncology Strategic
Business Unit focussing on precision molecular oncology, next-generation
immuno-oncology medicines, and radioligand therapies. At GSK, she was
responsible for the rebuild of the oncology business, including the
integration of assets following the acquisition of Tesaro. Ms. Roth's
expertise extends across various therapy areas, including Oncology,
Cardiovascular, Metabolic, and Infectious Diseases. She is actively involved
in industry associations, such as the American Society of Clinical Oncology
and the American Society of Hematology. She holds a Bachelor's degree in
Chemistry from the University of North Carolina at Chapel Hill.

 

The following information regarding the appointment of Ms Christine Ann Roth
(aged 60), 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):

 Vividion Therapeutics, Inc

 

Ms Roth does not hold any ordinary shares or options over new ordinary shares
of the Company.

 

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

 

Dr. Marie-Louise Helena Fjällskog - Non-Executive Director

 

Dr. Marie-Louise Fjällskog is a professional with extensive experience in the
pharmaceutical and biopharmaceutical industry, particularly in the field of
clinical oncology, translational research, and drug development. She holds an
MD degree and a Ph.D. from Uppsala University, Sweden, and is an Associate
Professor of Oncology at the same institution. With over 25 years of clinical
experience, Dr. Fjällskog has made significant contributions to the
development of targeted therapies for cancer. She has held key roles in
various pharmaceutical companies, such as Sensei Biotherapeutics, Merus, and
Infinity Pharmaceuticals, where she led clinical development programs and
played instrumental roles in their success, including Sensei's $152 million
IPO in 2021. Her extensive expertise and leadership have also earned her a
position on the board of Biovica International AB, a prominent biotech company
in Sweden and in the US, respectively. She is also on the board of Norwegian
company Lytix Biopharma.

 

In January 2022, Dr. Fjällskog assumed the role of Chief Medical Officer at
Faron where she lead Faron's clinical development programs, particularly the
bexmarilimab program. Dr. Fjällskog stepped down from the CMO role on
September 21, 2023.

 

The following information regarding the appointment of Marie-Louise Helena
Fjällskog (aged 58), 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):

 Biovica Inc                                            None
 Biovica International AB
 Lytix Biopharma AS

 

Dr. Fjällskog does not hold any ordinary shares of the Company, but she has
been granted 180,000 options over new ordinary shares of the Company, of which
35,000 has vested.

 

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

 

"I am pleased to welcome Ms. Roth and Dr. Fjällskog to the Faron Board as
Non-Executive Directors," said Dr. Frank Armstrong, Chairman of the Board of
Faron Pharmaceuticals. "Their combined executive experience in the oncology
field and medical expertise will greatly support the advanced of bexmarilimab,
Faron's wholly owned, investigational immunotherapy, in clinical development."

 

 

For more information please contact:

 

Investor Contact

 

LifeSci Advisors

Daniel Ferry

Managing Director

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

+1 (617) 430-7576

 

Media Contact

 

Faron Pharmaceuticals

Jennifer C. Smith-Parker

Head of Communications

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

 

Forward-Looking Statements

Certain statements in this announcement are, or may be deemed to be,
forward-looking statements. Forward looking statements are identified by their
use of terms and phrases such as ''believe'', ''could'', "should", "expect",
"hope", "seek", ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'',
''potentially'', ''will'' or the negative of those, variations or comparable
expressions, including references to assumptions. These forward-looking
statements are not based on historical facts but rather on the Directors'
current expectations and assumptions regarding the Company's future growth,
results of operations, performance, future capital and other expenditures
(including the amount, nature and sources of funding thereof), competitive
advantages, business prospects and opportunities. Such forward-looking
statements reflect the Directors' current beliefs and assumptions and are
based on information currently available to the Directors.

A number of factors could cause actual results to differ materially from the
results and expectations discussed in the forward-looking statements, many of
which are beyond the control of the Company. In addition,  other factors
which could cause actual results to differ materially include the ability of
the Company to successfully license its programs within the anticipated
timeframe or at all, risks associated with vulnerability to general economic
and business conditions, competition, environmental and other regulatory
changes, actions by governmental authorities, the availability of capital
markets or other sources of funding, reliance on key personnel, uninsured and
underinsured losses and other factors.  Although any forward-looking
statements contained in this announcement are based upon what the Directors
believe to be reasonable assumptions, the Company cannot assure investors that
actual results will be consistent with such forward-looking statements.
Accordingly, readers are cautioned not to place undue reliance on
forward-looking statements. Subject to any continuing obligations under
applicable law or any relevant AIM Rule requirements, in providing this
information the Company does not undertake any obligation to publicly update
or revise any of the forward-looking statements or to advise of any change in
events, conditions or circumstances on which any such statement is based.

 

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