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Faron Pharmaceuticals Oy
Registration of Placing Shares with Trade Register
TURKU - FINLAND, 12 November 2019 - Faron Pharmaceuticals Oy (AIM: FARN) ("Faron" or the "Company"), the clinical stage biopharmaceutical company, has as previously announced completed a private placement of new ordinary shares (the "Placing Shares") (the "Placing"). The Company announced the results of the Placing on 8 November 2019.
A total of 3,935,500 Placing Shares subscribed for in the Placing have been issued and registered in the trade register maintained by the Finnish Patent and Registration Office (the "Trade Register") today on 12 November 2019. The Placing Shares confer a right to dividends and other shareholder rights from their registration with the Trade Register.
Following the Placing, the aggregate number of ordinary shares in the Company is 43,290,747. One ordinary share entitles to one vote in the general meeting of the Company. The Company holds no treasury shares.
An application has been made to the London Stock Exchange for admission to AIM of the 3,935,500 Placing Shares ("Admission"), and it is expected that Admission will take place at 8:00 a.m. (GMT) on 14 November 2019.
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. 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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