The following amendment has been
made to the 'Board Change ' announcement released on 30 April 2024
at 1:00 PM (BST) under RNS No. 6380M.
Juho Jalkanen was appointed as CEO
of the Company, but was not appointed to the Board of the Company,
therefore the announcement has been changed from
"is pleased to announce the appointment of
Dr. Juho Jalkanen as
director and Chief Executive Officer of the Company…" to "is
pleased to announce the appointment of Dr. Juho Jalkanen as Chief
Executive Officer of the Company…".
All other details remain
unchanged.
The full amended text is shown
below.
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 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
Kiinteistö Oy Pyhälinna
|
PharMart Oy
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
+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.