Faron Pharmaceuticals Oy: Grant of options
Faron Pharmaceuticals Ltd.
("Faron" or "the Company")
Grant of options
Company announcement, August 30, 2024
TURKU, FINLAND - Faron Pharmaceuticals Ltd. (AIM: FARN, First North: FARON), a clinical-stage biopharmaceutical company focused on tackling cancers via novel immunotherapies, today announces that the Company's board has confirmed the grant of a total of 100,000 options over new ordinary shares in the Company ("Options") under the Company's Share Option Plan 2019. The Options have been allocated under the Share Option Plan 2019 and are exercisable between August 26, 2025 and August 26, 2028, vesting 25% per annum over four years. The exercise price for the 100,000 Options allocated under the Option Plan 2019 is €1.48 per share, which is calculated based on the 90-day average price of the Shares prior to the Grant Date.
The terms of the Share Option Plan 2019 are available on the Company's website at https://www.faron.com/sites/faron-corp/files/faron/investor/general-meeting/2023/annex-1-amended-option-plan-2019.pdf.
The granted 100,000 Options entitle the option holders to subscribe for a total of 100,000 new ordinary shares in the Company, if exercised in full, and represent 0.1 % of the fully diluted ordinary share capital of the Company.
Included in the number of Options granted are the following Options which were issued to other persons discharging managerial responsibilities ("PDMRs"):
Other PDMR
Petri Bono 100,00
Total other PDMRs 100,000
For the purposes of MAR and UK MAR, the person responsible for arranging for the release of this announcement on behalf of Faron is Juho Jalkanen, Chief Executive Officer.
For more information please contact:
ICR Consilium
Mary-Jane Elliott, David Daley, Lindsey Neville
Phone: +44 (0)20 3709 5700
E-mail: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 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. Directly targeting Clever-1 could limit the replication capacity of cancer cells, increase antigen presentation, ignite an immune response, and allow current treatments to be more effective. Clever-1 is highly expressed in both AML and MDS and associated with therapy resistance, limited T cell activation and poor outcomes.
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 reprogramming myeloid cell function. Bexmarilimab is being investigated in Phase I/II clinical trials as a potential therapy for patients with hematological cancers in combination with other standard treatments. Further information is available at www.faron.com.
Notification
of a
Transaction
pursuant to
Article
19(1) of
Regulation
(EU) No.
596/2014
1 Details of the person
discharging managerial
responsibilities/person
closely associated
a. Name Petri Bono
2 Reason for notification
a. Position/Status Person discharging
managerial
responsibilities/pers
on closely
associated
b. Initial notification/ Initial notification
Amendment
3 Details of the issuer,
emission allowance market
participant, auction
platform, auctioneer or
auction monitor
a. Name Faron
Pharmaceuticals Oy
b. LEI 7437009H31TO1DC0EB42
4 Details of the
transaction(s): section to be
repeated for (i) each type of
instrument; (ii) each type of
transaction; (iii) each date;
and (iv) each place where
transactions have been
conducted
a. Description of the financial Options over new
instrument, type of ordinary shares
instrument ISIN: FI4000153309
Identification Code
b. Nature of the transaction Grant of options
made pursuant to the
Faron 2019 Option
Plan
c. Price(s) and volume(s)
Exercise Price(s) Volume(s)
€1.48 100,000
d. Aggregated information N/A
- Aggregated Volume
- Price
e. Date of the transaction 26 August 2024
f. Place of the transaction Turku