REG - Faron Pharma. Oy - Grant of options

Faron Pharmaceuticals OyAnnouncement

30/08/2024 07:00

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RNS Number : 2013C  Faron Pharmaceuticals Oy  30 August 2024

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
(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 (mailto: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
(http://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/person 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 instrument, type of instrument  Options over new ordinary shares

Identification Code
ISIN: FI4000153309
 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

 

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