Company Description & information on cash position
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Faron Pharmaceuticals Oy
Publication of Company Description and information on Company's cash position
Company announcement, 29 November 2019 at 9.00 AM (EET)
TURKU - FINLAND - Faron Pharmaceuticals Oy (AIM: FARN) ("Faron" or the "Company"), the clinical stage biopharmaceutical company, announces that it has today published the company description document (the "Company Description") that Faron is required to prepare and publish in conjunction with the applied listing of its ordinary shares on Nasdaq First North Growth Market ("Nasdaq First North"), a registered SME growth market in accordance with Directive 2014/65/EU on markets in financial instruments as implemented in the national legislation of Denmark, Finland and Sweden, operated by an exchange within the Nasdaq group. The Company Description available at https://www.faron.com/investors contains the information required under the Nasdaq First North Rulebook, and it has been approved to be published by the Board of Directors of Faron.
The information in the Company Description is either general information or information already published by the Company including the Company's cash position on 30 September 2019. As announced the unaudited cash position of the Company as of 30 September 2019 was EUR 2,383 thousand. Since that date the cash position was strengthened with net funds of EUR 8,033 thousand raised in the placing of shares registered in the trade register maintained by the Finnish Patent and Registration Office on 12 November 2019.
If the applied listing is accepted, the first date of trading at Nasdaq First North will be 3 December 2019. The ISIN code of Faron's ordinary shares is FI4000153309 and the trading code will be FARON.
Faron's shares have been traded on AIM with the ticker FARN since November 2015. Trading on AIM is facilitated through depositary interests ("DIs"), which are trading securities issued by Computershare Investor Services PLC that allow share transfer and settlement for non-UK companies. Each DI represents one ordinary share in Faron.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").
For more information please contact:
Faron Pharmaceuticals Oy
Dr Markku Jalkanen, Chief Executive Officer
Panmure Gordon (UK) Limited, Nomad and Broker on AIM
Emma Earl, Freddy Crossley
Phone: +44 (0)20 7886 2500
Sisu Partners Oy, Certified Adviser on Nasdaq First North
Juha Karttunen, Jussi Majamaa
Phone: +358 (0)40 555 4727
Consilium Strategic Communications
Mary-Jane Elliott, David Daley, Lindsey Neville
Phone: +44 (0)20 3709 5700
Nasdaq Helsinki Ltd
About Faron Pharmaceuticals Oy:
Faron (AIM:FARN) is a clinical stage biopharmaceutical company developing novel treatments for medical conditions with significant unmet needs. The Company currently has a pipeline based on the endothelial receptors involved in regulation of immune response, in oncology and organ damage. Clevegen®, its precision immunotherapy, is a novel anti-Clever-1 antibody with the ability to switch immune suppression to immune activation in various conditions, with potential across oncology, infectious disease and vaccine development. Currently in phase I/II clinical development as a novel macrophage checkpoint immunotherapy for patients with untreatable solid tumours, Clevegen® has potential as a single-agent therapy or in combination with other immune checkpoint molecules or other cancer standard cares. Traumakine®, the Company's pipeline candidate to prevent vascular leakage and organ failures, has completed a phase III clinical trial in Acute Respiratory Distress Syndrome (ARDS). Plans for its future development are being finalised to avoid interfering steroid use together with Traumakine®. Faron is based in Turku, Finland. Further information is available at www.faron.com.
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