News Archives

Faron Pharmaceuticals Ltd: PDMR Dealing

13.1.2026

Faron Pharmaceuticals Ltd | Company announcement | January 13, 2026 at 18:00:00 EET

TURKU, FINLAND – Faron Pharmaceuticals Ltd. (AIM: FARN, First North: FARON), a clinical-stage biopharmaceutical company focused on developing novel immunotherapies, announces today that Mr. Jurriaan Dekkers, Chief Financial Officer of the Company, sold 4,000 ordinary shares in Faron at price of £1.822 per share on 12 January 2026.

Further details are set out in the Notification of Dealing Form below.

PDMR	Holding prior to sale	Number of ordinary shares sold	Resultant interest in ordinary shares in the Company	Resultant percentage of voting rights in the Company
Jurriaan Dekkers	4,000	4,000	0	0.0%

For more information, please contact:

IR Partners, Finland (Media) Kare Laukkanen	+358 50 553 9535 / +44 7 469 766 223 kare.laukkanen@irpartners.fi
FINN Partners, US (Media) Alyssa Paldo	+1 847 791-8085 alyssa.paldo@finnpartners.com
Cairn Financial Advisers LLP (Nominated Adviser and Broker) Sandy Jamieson, Jo Turner	+44 (0) 207 213 0880
Sisu Partners Oy (Certified Adviser on Nasdaq First North) Juha Karttunen Jukka Järvelä	+358 (0)40 555 4727 +358 (0)50 553 8990

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	Jurriaan Dekkers
2	Reason for notification
a.	Position/Status	Chief Financial Officer
b.	Initial notification/ Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a.	Name	Faron Pharmaceuticals Ltd.
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 Identification Code	Ordinary Shares ISIN: FI4000153309
b.	Nature of the transaction	Sale of Ordinary Shares
			Price(s) per share (p)	Volume(s)
			£1.822	4,000

d.	Aggregated information Volume Price	4,000 £1.822
e.	Date of the transaction	12/01/2026
f.	Place of the transaction	London Stock Exchange, AIM

Faron Pharmaceuticals Ltd: Approval of Share Subscriptions Based on Special Rights in connection with Advanced Amortisation of the First Tranche Bonds

8.1.2026

Faron Pharmaceuticals Ltd | Company announcement | January 08, 2026 at 19:45:00 EET

Turku, Finland – Faron Pharmaceuticals Ltd. (AIM: FARN, First North: FARON), a clinical-stage biopharmaceutical company developing novel immunotherapies, announces that the Company has approved the exercise of 453,979 special rights entitling to 453,979 existing treasury shares, for an aggregate subscription price of EUR 846,943.22, in connection with an advanced amortisation payment of the First Tranche Bonds (as defined below), which will occur latest on 12 January 2026.

The Company announced on 3 April 2025 that it had entered into a convertible bond arrangement for up to EUR 35 million with an entity managed by Heights Capital Management, Inc. (“HCM”) and resolved upon the issuance of amortising senior unsecured convertible bonds with an aggregated principal amount of EUR 15 million (the “First Tranche Bonds”) due 2 April 2028 to HCM, convertible into new and/or existing shares in the Company (the “Shares”). On 11 December 2025 the Company has resolved upon the issuance of EUR 10 million of Second Tranche Bonds, due 2 December 2028, to HCM, convertible into new and/or existing Shares in the Company. HCM (or any future holders of the majority of the First Tranche Bonds) may, at any time between scheduled amortisations, exercise their right to bring forward up to two (2) additional amortisation payments (an “Accelerated Amortisation”) of the First Tranche Bonds to be paid in advance, with a limit of no more than nine (9) Accelerated Amortisations in the first year of the term of the First Tranche Bonds. As previously announced, the Board of Directors of Faron has resolved to make amortisations and interest payments by converting the relevant amounts due into Shares (“Share Settlement Option”), unless it separately decides to make payments in cash. The exercise of the Company’s Share Settlement Option is effected by the bondholders exercising special rights entitling into Shares, as referred to in Chapter 10 of the Finnish Companies Act (“Special Rights”), issued in connection with the issuance of the First Tranche Bonds.

The Company has on 8 January 2026 received an amortised payment advancement notice related to First Tranche Bonds from the bondholder for an aggregate amortised payment amount (including accrued interest) of EUR 846,943.22. As the Company has exercised its Share Settlement Option, the subscription price for the Shares subscribed for by the bondholder is EUR 1.8656 per Share, corresponding to 90 per cent of the lowest of (i) the volume weighted average price (“VWAP”) of a Share on the relevant payment date, and (ii) the lowest of the VWAPs of a Share on each of the five consecutive dealing days ending on (and including) the dealing day immediately preceding the relevant payment date. Therefore, the Company has approved the exercise of 453,979 Special Rights entitling to 453,979 existing treasury Shares, for an aggregate subscription of EUR 846,943.22. The subscription price for the Shares subscribed for pursuant to the Special Rights is paid by setting off the Company’s debt to pay relevant amounts due under the First Tranche Bonds and recorded into the reserve for invested unrestricted equity. The new Maturity Date of the Bond is 2 August 2027.

The 453,979 Shares subscribed for rank pari passu in all respects with the existing shares of the Company and are admitted to trading on Nasdaq First North Growth Market Finland (“First North“) maintained by Nasdaq Helsinki Ltd (“Nasdaq Helsinki“) and on AIM (“AIM“), the market of that name operated by London Stock Exchange plc (the “LSE“).

Following the issuance, the aggregate number of ordinary shares in issue in the Company remains 118,563,143. Shares held in treasury by the Company do not confer a right to dividends or other shareholder rights. Following the issuance, the Company will have 3,688,699 shares in treasury and therefore, the total number of voting rights in Faron will be 114,874,444 (the “Number of Shares and Votes“). This figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify an interest in, or a change to their interest in, the Number of Shares and Votes of the Company.

For more information, please contact:

IR Partners, Finland (Media) Kare Laukkanen	+358 50 553 9535 / +44 7 469 766 223 kare.laukkanen@irpartners.fi
FINN Partners, US (Media) Alyssa Paldo	+1 847 791-8085 alyssa.paldo@finnpartners.com
Cairn Financial Advisers LLP (Nominated Adviser and Broker) Sandy Jamieson, Jo Turner	+44 (0) 207 213 0880
Sisu Partners Oy (Certified Adviser on Nasdaq First North) Juha Karttunen Jukka Järvelä	+358 (0)40 555 4727 +358 (0)50 553 8990

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.

Faron announces strategic collaboration with The Institute for Cancer Research to launch BLAZE trial, targeting immunotherapy resistance in cancer

22.12.2025

Faron Pharmaceuticals Ltd | Press Release | December 22, 2025 at 09:00:00 EET

Investigator-initiated trial aims to provide proof-of-concept for bexmarilimab in overcoming acquired resistance to checkpoint inhibitors, a major challenge for most melanoma and lung cancer patients

TURKU, FINLAND – Faron Pharmaceuticals Ltd. (AIM: FARN, First North: FARON), a clinical-stage biopharmaceutical company, today announces the finalization of agreements to initiate the BLAZE trial, a new investigator-initiated trial (IIT) in the UK. The trial is conducted via a strategic collaboration with The Institute of Cancer Research, London (ICR), operating in partnership with The Royal Marsden NHS Foundation Trust. This collaboration leverages the world-class expertise of these globally recognized leaders in cancer research, innovation, and treatment.

The Phase I/II BLAZE trial will investigate Faron’s lead asset, bexmarilimab, in combination with the anti-PD-1 checkpoint inhibitor, zimberelimab provided by Gilead Sciences, for patients with metastatic non-small cell lung cancer (NSCLC) and melanoma who have developed resistance to prior anti-PD-1-based immunotherapy and progressed within three months of the last anti-PD-1 treatment. The trial will explore a novel approach by first priming patients with bexmarilimab monotherapy, followed by the combination of bexmarilimab and zimberelimab, aiming to resensitize the tumors back to anti-PD-1 treatment after disease progression.

Dr. Anna Minchom, MD, BCh, MB, MRCP, Team Leader at The Institute of Cancer Research, London (ICR) and a Consultant Medical Oncologist at The Royal Marsden NHS Foundation Trust and principal investigator of the trial said, “Resistance to immunotherapy remains a significant hurdle for many patients with lung cancer and melanoma. There is a strong scientific rationale that tumour-associated macrophages are key culprits in this process. By targeting them with bexmarilimab before re-introducing an anti-PD-1 treatment, we are testing a novel strategy to reverse this resistance. We look forward to gathering vital clinical and translational data from this study.”

Addressing a critical unmet need

Resistance to first-line anti-PD-1 immunotherapy is one of the most significant challenges in modern cancer immunotherapy era. While checkpoint inhibitors have revolutionized treatment, the majority of patients with advanced melanoma and lung cancer eventually see their disease progress. This acquired resistance represents a major and growing unmet medical need, as effective subsequent treatment options are very limited. There is strong evidence that tumour-associated macrophages (TAMs) create an immunosuppressive tumour microenvironment that drives this resistance and could be overcome by removing the immunosuppression by anti-Clever-1 mAb bexmarilimab.

Dr. Juho Jalkanen, CEO of Faron, said, “We are thrilled to collaborate with the esteemed teams at the ICR and The Royal Marsden on the BLAZE trial. We believe bexmarilimab’s unique mechanism of reprogramming macrophages has the potential to resensitize tumours to immunotherapy, offering new hope for patients who have exhausted their treatment options. This trial is designed to deliver proof-of-concept data for this critical application.”

The robust clinical and translational data generated from the BLAZE trial could accelerate the development of new immunotherapy strategies for PD-1 resistant patients. Success in this trial could pave the way for broader applications of macrophage-targeted therapies in solid tumors, not only to overcome acquired resistance but also to potentially make ‘cold’ tumours, which are non-responsive from the start, sensitive to checkpoint inhibitors.

For more information, please contact:

IR Partners, Finland (Media) Kare Laukkanen	+358 50 553 9535 / +44 7 469 766 223 kare.laukkanen@irpartners.fi
FINN Partners, US (Media) Alyssa Paldo	+1 847 791-8085 alyssa.paldo@finnpartners.com
Cairn Financial Advisers LLP (Nominated Adviser and Broker) Sandy Jamieson, Jo Turner	+44 (0) 207 213 0880
Sisu Partners Oy (Certified Adviser on Nasdaq First North) Juha Karttunen Jukka Järvelä	+358 (0)40 555 4727 +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 Zimberelimab
Zimberelimab is an anti-programmed cell death protein-1 (PD-1) monoclonal antibody that binds PD-1, with the goal of restoring the antitumor activity of T cells. Zimberelimab is being evaluated in the U.S. and globally as an anti-PD-1 treatment option in multiple ongoing clinical studies in combination with other immunotherapies. Zimberelimab is an investigational molecule that has not received approval from any regulatory authority worldwide. Its safety and efficacy have yet to be established.

Composition of Faron Pharmaceutical’s Shareholders’ Nomination Board

17.12.2025

Faron Pharmaceuticals Ltd | Company announcement | December 17, 2025 at 16:30:00 EET

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 following members have been re-elected by a meeting of the Company’s five largest shareholders to Faron Pharmaceuticals Ltd’s Shareholders’ Nomination Board:

Timo Syrjälä, representing himself (Chair)
Erkka Kohonen, representing Varma Mutual Pension Insurance Company, and
Joonas Haakana, representing UMO Capital

Faron’s Shareholders’ Nomination Board consists of three members, which represent the Company’s shareholders. The Chair of Faron’s Board of Directors, Mr. Tuomo Pätsi, will serve as an expert in the Nomination Board without being a member.

The Shareholders’ Nomination Board prepares and presents proposals to the Annual General Meeting on the number, composition and remuneration of the members of the Board as well as the Chair of the Board of Directors.

For more information, please contact:

IR Partners, Finland (Media) Kare Laukkanen	+358 50 553 9535 / +44 7 469 766 223 kare.laukkanen@irpartners.fi
FINN Partners, US (Media) Alyssa Paldo	+1 847 791-8085 alyssa.paldo@finnpartners.com
Cairn Financial Advisers LLP (Nominated Adviser and Broker) Sandy Jamieson, Jo Turner	+44 (0) 207 213 0880
Sisu Partners Oy (Certified Adviser on Nasdaq First North) Juha Karttunen Jukka Järvelä	+358 (0)40 555 4727 +358 (0)50 553 8990

Faron issues second tranche of bonds with an aggregated principal amount of EUR 10 million under its convertible bond arrangement

11.12.2025

Faron Pharmaceuticals Ltd | Company announcement | December 11, 2025 at 10:30:00 EET

TURKU, FINLAND – Faron Pharmaceuticals Ltd. (AIM: FARN, First North: FARON, “Faron” or the “Company”), a clinical-stage biopharmaceutical company developing novel immunotherapies, announced on 3 April 2025 that the Company has entered into a subscription agreement (the “Subscription Agreement”) with an entity managed by Heights Capital Management, Inc. (“HCM”) regarding the issuance and subscription of amortising senior unsecured convertible bonds with an aggregated principal amount of EUR15 million (the “First Tranche Bonds”) with an option to issue, subject to certain conditions, two additional tranches of convertible bonds (the “Second Tranche Bonds” and “Third Tranche Bonds”, respectively) with an aggregated principal amount of EUR10 million each, convertible into new and/or existing shares in the Company (the “Shares”) (the “Arrangement”).

The Company announced on 24 November 2025 that it intends to issue the Second Tranche Bonds and had requested subscription by HCM of the Second Tranche Bonds.

Pursuant to the Subscription Agreement, the Board of Directors of Faron (the “Board”) has resolved upon the issuance of EUR10 million of Second Tranche Bonds, due 2 December 2028, to HCM, convertible into new and/or existing Shares in the Company.

The proceeds from the Second Tranche Bonds will be used for general corporate purposes, extending the Company’s cash runway into Q2 2026, assuming that amortisations and interest payments on the Second Tranche Bonds, as well as the First Tranche Bonds, are made in Shares. The proceeds from the issuance of the Second Tranche Bonds will strengthen the Company’s financial position and give the Company financial flexibility to run its operations while conducting the needed business activities ahead of the registrational study in HR MDS. In addition, the proceeds from the Second Tranche Bonds will enable the Company to continue evaluating further business transactions, such as licensing agreements, with a stronger financial position.

The Board has conducted an overall assessment of the issuance of the Second Tranche Bonds, considering its key terms and commercial merits, the reputable standing of HCM as well as other explored financing alternatives potentially available to the Company, and concluded that the directed issuance of the Second Tranche Bonds, including the Special Rights (as defined below) to be attached to the bonds, to HCM is in the best interest of the Company and all of its shareholders, and that there is a weighty financial reason for the Company to issue the Special Rights to HCM.

The Convertible Bonds

The Second Tranche Bonds consist of 100 bonds with a principal value of EUR100,000 each. The Second Tranche Bonds will be issued at 92.5 per cent of their principal amount and carry an interest rate of 7.5 per cent per annum, payable every two months in arrears.

A holder of the Second Tranche Bonds shall be able to convert the outstanding principal amount of a Second Tranche Bond or any instalment amount at any time during the term of the Second Tranche Bonds. The initial conversion price (the “Conversion Price”, as further defined in terms and conditions of the Second Tranche Bonds, (the “Second Tranche Conditions”)) has been set at EUR 2.42256, which equals a 20 per cent premium to the reference share price of EUR 2.0188 pursuant to the Second Tranche Conditions, being the EUR price per Share that is the lowest of the six Volume Weighted Average Prices of a Share listed on Nasdaq First North Growth Market Finland on each of the six consecutive dealing days ending on (and including) 9 December 2025, being the date on which the Second Tranche Bonds are issued (the “Issue Date”). The Conversion Price is subject to adjustments in the event of certain corporate actions as well as customary anti-dilution adjustments and certain price reset mechanisms pursuant to the Second Tranche Conditions. As the Second Tranche Bonds are issued on substantially the same terms as the First Tranche Bonds, corresponding adjustments and price reset mechanisms are applied also to the First Tranche Bonds.

The Second Tranche Bonds will amortise in 18 equal instalments every two months during the term of the Second Tranche Bonds (each an “Amortisation Payment Date”). Faron will have the option to elect, in its sole discretion, to make amortisation and/or interest payments either in cash or by converting the relevant amounts due into Shares (the “Share Settlement Option”). In case the Company exercises its Share Settlement Option to amortise the principal amount of the Second Tranche Bonds, the subscription price for the Shares will be the lower of (a) the Conversion Price in effect at the time, and (b) 90 per cent of the lowest of (i) the VWAP of a Share on the relevant payment date, and (ii) the lowest of the VWAPs of a Share on each of the five consecutive dealing days ending on (and including) the dealing day immediately preceding the relevant payment date.

The Board has, in light of the frequent amortisations and need to secure continuous adherence with the Market Abuse Regulation obligating the Company to make payments in Shares in certain situations, resolved to make amortisations and interest payments by exercising its Share Settlement Option, unless it separately decides to make payments in cash. Pursuant to the Second Tranche Conditions, the exercise of the Share Settlement Option is subject to certain liquidity conditions and HCM’s (including its affiliates) or any other bondholder’s ownership in the Company not exceeding 9.99 per cent of the Shares at any time.

The Company will publish an announcement each time the number of outstanding Shares in the Company increases following the issuance of Shares pursuant to the Second Tranche Bonds.

In addition to the scheduled amortisation payments, HCM (or any future holders of the majority of the Second Tranche Bonds) may, at any time between scheduled amortisations, exercise their right to bring forward up to two (2) additional amortisation payments (an “Accelerated Amortisation”) to be paid in advance on a date specified in a notice sent to the Company, with a limit of no more than nine (9) Accelerated Amortisations in the first year of the term of the Second Tranche Bonds. Additionally, HCM (or any future holders of the majority of the Second Tranche Bonds) will also have the right to defer any upcoming amortisation payment to be paid on a later Amortisation Payment Date specified in the notice sent to the Company.

The exercise of the bondholders’ right to convert the Second Tranche Bonds into Shares as well as the exercise of the Company’s Share Settlement Option will be effected by the bondholders exercising special rights entitling into Shares, as referred to in Chapter 10 of the Finnish Companies Act (“Special Rights”), issued in connection with the issuance of the Second Tranche Bonds. The Special Rights will be attached to the Second Tranche Bonds, and the subscription price for the Shares to be subscribed for pursuant to the Special Rights (in accordance with the Second Tranche Conditions) will be paid by setting off the Company’s debt to pay relevant amounts due under the Second Tranche Bonds.

The Second Tranche Conditions include certain covenants and undertakings by the Company, including a negative pledge provision and restrictions to the incurrence of additional indebtedness as well as on the conduct of business by the Company such that it may only carry on matters in the ordinary course of business and not enter into certain transactions such as mergers, demergers or reorganisations, or disposal of assets, except in relation to any partnering or licensing arrangements related to development of its business, or on terms approved by the majority bondholders.

Special Rights attached to the Second Tranche Bonds

In connection with the issuance of the Second Tranche Bonds, the Board has resolved, based on the authorisation granted by the General Meeting held on 21 March 2025, to issue 9,234,100 Special Rights. The Special Rights are issued in deviation from the shareholders’ pre-emptive rights (directed issue) without consideration to HCM as the initial subscriber of the Second Tranche Bonds. The Special Rights are attached to the Second Tranche Bonds and cannot be separated from them. Should HCM use its right to transfer Second Tranche Bonds, the Special Rights attached to the relevant bonds that have not been exercised at the time of the transfer would be simultaneously transferred to the new bondholder.

A total of 92,341 Special Rights will be attached to each Second Tranche Bond with a principal value of EUR 100,000. Each Special Right entitles to one (1) new or existing Share of the Company. Should all Second Tranche Bonds be converted into Shares at the initial Conversion Price EUR 2.42256 (assuming no amortisation and/or interest payments have been made), the number of new Shares to be issued by the Company pursuant to the Special Rights would be 4,127,864 Shares, corresponding to approximately 3.5 per cent of the current total amount of Shares in the Company. If the Conversion Price is adjusted, as set out in the Second Tranche Conditions, the Company may be obligated to issue further Special Rights in which case the Board will resolve upon said issuance in accordance with the relevant provisions in the Finnish Companies Act.

The Special Rights may only be exercised, and Shares may only be issued pursuant to such exercised Special Rights, in accordance with the Second Tranche Conditions.

Additionally, in order to prepare especially for any advanced amortisation situations, the Company’s Board may separately resolve to issue treasury shares to Faron itself without consideration. Such issuance, if resolved, would be separately announced.

Reset of the Conversion Price of the First Tranche Bonds
In accordance with the First Tranche Bond conditions, the conversion price of the First Tranche Bonds will be reset to be the same as the Conversion Price for the Second Tranche Bonds. The adjusted conversion price for the First Tranche Bonds will be EUR 2.42256.

For more information, please contact:

IR Partners, Finland (Media) Kare Laukkanen	+358 50 553 9535 / +44 7 469 766 223 kare.laukkanen@irpartners.fi
FINN Partners, US (Media) Alyssa Paldo	+1 847 791-8085 alyssa.paldo@finnpartners.com
Cairn Financial Advisers LLP (Nominated Adviser and Broker) Sandy Jamieson, Jo Turner	+44 (0) 207 213 0880
Sisu Partners Oy (Certified Adviser on Nasdaq First North) Juha Karttunen Jukka Järvelä	+358 (0)40 555 4727 +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 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.

Forward-Looking Statements
Certain statements in this announcement are, or may be deemed to be, forward-looking statements. Forward looking statements are identified by their use of terms and phrases such as ”believe”, ”could”, “should”, “expect”, “hope”, “seek”, ”envisage”, ”estimate”, ”intend”, ”may”, ”plan”, ”potentially”, ”will” or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Board’s current expectations and assumptions regarding the Company’s future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward-looking statements reflect the Board’s current beliefs and assumptions and are based on information currently available to the Board.

A number of factors could cause actual results to differ materially from the results and expectations discussed in the forward-looking statements, many of which are beyond the control of the Company. In addition, other factors which could cause actual results to differ materially include the ability of the Company to successfully license its programs within the anticipated timeframe or at all, risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes, actions by governmental authorities, the availability of capital markets or other sources of funding, reliance on key personnel, uninsured and underinsured losses and other factors. Although any forward-looking statements contained in this announcement are based upon what the Board believes to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements.

Faron presents updated BEXMAB data at ASH 2025: Deep and durable responses in HR-MDS with favorable safety profile

8.12.2025

Faron Pharmaceuticals Ltd | Press Release | December 08, 2025 at 09:00:00 EET

Significant efficacy observed in TP53-mutated patients with a 70% complete remission rate in the frontline HR MDS

Key highlights:

Median overall survival (mOS) with bexmarilimab and azacitidine in relapsed/refractory (r/r) HR-MDS patients reached 14.5 months (increased from 13.4 months observed earlier), a significant improvement in a population with historically poor survival of only 5-6 months
In treatment-naïve patients with HR-MDS and TP53 mutation, the combination achieved a remarkable 70% complete remission (CR) rate
Deep responses allowed 50% of treatment-naïve TP53-mutated patients and 21% of r/r TP53-mutated patients to proceed to stem cell transplant (SCT)
For the first time, data shows 57% of frontline patients who were transfusion-dependent at baseline achieved transfusion independence, confirming restoration of healthy bone marrow function

TURKU, FINLAND – Faron Pharmaceuticals Ltd. (AIM: FARN, First North: FARON), a clinical-stage biopharmaceutical company, today announced updated full data from its Phase 1/2 BEXMAB study, presented at the American Society of Hematology (ASH) 2025 Annual Meeting (oral and poster presentation). The data highlights significant improvement in survival outcome and new findings on hematopoietic recovery in patients with higher-risk Myelodysplastic Syndromes (HR-MDS) treated with bexmarilimab in combination with standard-of-care azacitidine.

Deep and durable response across HR-MDS subgroups

The BEXMAB study continues to show deep and durable responses across HR-MDS subgroups, particularly in patients with TP53 mutations, a genetic profile typically associated with resistance to standard therapies.

Dr. Amer Zeidan, MBBS, MHS, Professor of Internal Medicine at Yale University and chief of Hematologic Malignancies at Yale Cancer Center and Smilow Cancer Hospital said, “For patients with HR-MDS, particularly those who have exhausted standard treatments or harbor poor risk mutations like TP53, the prognosis has historically been very challenging. Observing a median overall survival of 14.5 months in the relapsed setting, together with the notably high complete remission rates in frontline TP53-mutated disease—even with the small sample size and limited follow-up—represents a highly encouraging signal of efficacy. Also, half of the frontline TP53-mutated patients were able to proceed to a stem cell transplantation, suggesting this combination could offer a vital bridge to potentially curative therapy for patients who often have limited options. We remain excited about this combination as the data continue to mature over time, and we look forward to initiating the randomized registrational phase 2/3 trial in the near future.”

In treatment-naïve HR-MDS, the bexmarilimab and azacitidine combination reported an overall response rate (ORR) of 85% and a complete remission (CR) rate of 45%. Efficacy was exceptionally strong in patients with TP53 mutations, who achieved an ORR of 80% and a CR rate of 70% (50% of this TP53 cohort proceeded to stem cell transplant). Overall, 55% of treatment-naïve patients showed complete clearance of bone marrow blasts, and 35% proceeded to stem cell transplant (SCT).

In patients with relapsed/refractory (r/r) HR-MDS, the combination achieved an ORR of 64%, with a median overall survival (mOS) of 14.5 months. When stratified by mutation status, mOS for TP53-mutated patients was 7.5 months (21% of r/r mTP53 patients proceeded to SCT), while it was not yet reached for wild-type TP53 patients.

Bexmarilimab supports recovery of the bone marrow

In treatment-naïve HR-MDS, 57% of patients who were transfusion-dependent (TD) at baseline successfully achieved transfusion independence (TI). Across the entire HR-MDS BEXMAB trial population, 23% of dependent patients converted to independence. Maintenance of TI was robust, with 65% of patients who entered the study transfusion-independent remaining so throughout treatment. Analysis of the bone marrow samples confirmed that the treatment increases erythrocyte, platelet, and leukocyte progenitors, providing biological validation for the clinical improvements in blood counts.

Dr. Petri Bono, Chief Medical Officer of Faron, added, “The new data on transfusion independence is clinically very meaningful. For MDS patients, freedom from regular transfusions is a major determinant of quality of life. By demonstrating that we can convert over half of frontline transfusion dependent patients to independence, while simultaneously driving deep molecular remissions in high-risk genetic subgroups, we are confirming that bexmarilimab acts on cancer cells and actively rehabilitates the bone marrow environment, which is a key differentiator compared to classical toxic drugs aiming to just kill cancer cells.”

The combination continues to demonstrate an excellent safety profile. There were no Grade 5 bexmarilimab-related adverse events across the HR-MDS cohort. The encouraging safety profile and clear efficacy signals support bexmarilimab’s advancement into a randomized Phase 3 registrational trial to address the urgent unmet need in patients with HR-MDS.

The details of the ASH oral and poster presentation are as follows:

Oral presentation title: Efficacy, molecular and translational analysis of TP53-mutated HR-MDS with bexmarilimab and azacitidine: Updated results from the BEXMAB Ph1/2 study

Presented by: Dr. Amer Zeidan

Room: OCCC – Valencia Room W415BC

Session Name: 637. Myelodysplastic Syndromes: Clinical and Epidemiological: Treatment Advances in Higher Risk Myelodysplastic Syndromes

Session date and time: December 6, 2025, 2:15-2:30 PM

Abstract no: 7411

Poster presentation title: Transfusion independence, hematological improvement and associated safety outcomes with bexmarilimab plus azacitidine in HR MDS: Results of the bexmab Ph1/2 study

Presented by: Dr. Mika Kontro

Room: OCCC – West Halls B3-B4

Session Name: 637. Myelodysplastic Syndromes: Clinical and Epidemiological: Poster III

Session date and time: December 8, 2025, 6:00-8:00 PM

Abstract no: 7422

For more information, please contact:

IR Partners, Finland (Media) Kare Laukkanen	+358 50 553 9535 / +44 7 469 766 223 kare.laukkanen@irpartners.fi
FINN Partners, US (Media) Alyssa Paldo	+1 847 791-8085 alyssa.paldo@finnpartners.com
Cairn Financial Advisers LLP (Nominated Adviser and Broker) Sandy Jamieson, Jo Turner	+44 (0) 207 213 0880
Sisu Partners Oy (Certified Adviser on Nasdaq First North) Juha Karttunen Jukka Järvelä	+358 (0)40 555 4727 +358 (0)50 553 8990

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.

Disclosure: Dr. Amer Zeidan has received consulting fees from Faron. The views expressed are his own and do not necessarily represent those of his employer.

Faron Pharmaceuticals Ltd: Holding(s) in Company

4.12.2025

Faron Pharmaceuticals Ltd | Company announcement | December 04, 2025 at 18:00:00 EET

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) ⁱ

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ⁱⁱ:			Faron Pharmaceuticals Ltd
1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)
Non-UK issuer						X
2. Reason for the notification (please mark the appropriate box or boxes with an “X”)
An acquisition or disposal of voting rights
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify) ⁱⁱⁱ: Change due the Private Placement						x
3. Details of person subject to the notification obligation ^iv
Name			Timo Syrjälä
City and country of registered office (if applicable)			Monaco
4. Full name of shareholder(s) (if different from 3.) ^v
Name			Acme Investments SPF Sarl
City and country of registered office (if applicable)			Luxembourg
5. Date on which the threshold was crossed or reached ^vi:			03.12.2025
6. Date on which issuer notified (DD/MM/YYYY):			04.12.2025
7. Total positions of person(s) subject to the notification obligation
	% of voting rights attached to shares (total of 8. A)	% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)		Total of both in % (8.A + 8.B)	Total number of voting rights held in issuer (8.A + 8.B) ^vii
Resulting situation on the date on which threshold was crossed or reached	14,96				17.120.400
Position of previous notification (if applicable)	15,18				17.225.396

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached ^viii
A: Voting rights attached to shares
Class/type of shares ISIN code (if possible)		Number of voting rights ^ix					% of voting rights
		Direct (DTR5.1)		Indirect (DTR5.2.1)			Direct (DTR5.1)		Indirect (DTR5.2.1)
FI4000153309		5.185.528		11.934.872			4,53%		10,43%


SUBTOTAL 8. A		17.120.400					14,96%

B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial instrument		Expiration date ^x	Exercise/ Conversion Period ^xi			Number of voting rights that may be acquired if the instrument is exercised/converted.			% of voting rights



			SUBTOTAL 8. B 1

B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)
Type of financial instrument	Expiration date ^x		Exercise/ Conversion Period ^xi		Physical or cash Settlement ^xii			Number of voting rights	% of voting rights



					SUBTOTAL 8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”)
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer ^xiii
Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary) ^xiv				X
Name ^xv	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial instruments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold
Timo Syrjälä (Direct)	4,53%		4,53%
Acme Investments SPF Sarl (Indirect)	10,43%		10,43%




10. In case of proxy voting, please identify:
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held

11. Additional information ^xvi
Faron press release dated 3.12.2025, number of registered company shares increased to 114.420.465 due to share issue. Acme Investment SPF Sarl is fully owned by Timo Syrjälä

Place of completion	Monaco
Date of completion	04.12.2025

Faron Pharmaceuticals Ltd: Registration of New Shares

3.12.2025

Faron Pharmaceuticals Ltd | Company announcement | December 03, 2025 at 12:00:00 EET

Capitalised terms used in this announcement have the meanings given to them in the announcement made at 9.00 a.m. EET 3 December 2025 regarding the amortisation payment and approval of share subscriptions based on special rights, unless the context provides otherwise.

Turku, Finland – Faron Pharmaceuticals Ltd. (AIM: FARN, First North: FARON), a clinical-stage biopharmaceutical company developing novel immunotherapies, has, as announced earlier today on 3 December 2025, approved the exercise of 517,795 Special Rights entitling to 517,795 new Shares, for an aggregate subscription price of EUR 965,998.35.

In total 517,795 new shares in the Company have today on 3 December 2025 been registered in the Finnish Trade Register. The shares rank pari passu in all respects with the existing shares of the Company. Following the issuance, the aggregate number of ordinary shares in the Company is 118,563,143. Shares held in treasury by the Company do not confer a right to dividends or other shareholder rights. Following the registration, the Company continues to have 4,142,678 shares in treasury and therefore, the total number of voting rights in Faron is 114,420,465 (the “Number of Shares and Votes”). This figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify an interest in, or a change to their interest in, the Number of Shares and Votes of the Company.

Trading in the new shares is expected to commence on First North and AIM on or around 5 December 2025.

For more information, please contact:

IR Partners, Finland (Media) Kare Laukkanen	+358 50 553 9535 / +44 7 469 766 223 kare.laukkanen@irpartners.fi
FINN Partners, US (Media) Alyssa Paldo	+1 847 791-8085 alyssa.paldo@finnpartners.com
Cairn Financial Advisers LLP (Nominated Adviser and Broker) Sandy Jamieson, Jo Turner	+44 (0) 207 213 0880
Sisu Partners Oy (Certified Adviser on Nasdaq First North) Juha Karttunen Jukka Järvelä	+358 (0)40 555 4727 +358 (0)50 553 8990

About Faron Pharmaceuticals Ltd

Faron Pharmaceuticals Ltd: Approval of Share Subscriptions Based on Special Rights in connection with Amortisation of the First Tranche Bonds

3.12.2025

Faron Pharmaceuticals Ltd | Company announcement | December 03, 2025 at 09:00:00 EET

Turku, Finland – Faron Pharmaceuticals Ltd. (AIM: FARN, First North: FARON), a clinical-stage biopharmaceutical company developing novel immunotherapies, announces that the Company has approved the exercise of 517,795 special rights entitling to 517,795 new Shares, for an aggregate subscription price of EUR 965,998.35 in connection with the scheduled amortisation payment of the First Tranche Bonds (as defined below), occurred on 2 December 2025.

The Company has received a scheduled amortised payment notice from the bondholder for an aggregate amortised payment amount (including accrued interest) of EUR 966,000. As the Company has exercised its Share Settlement Option, the subscription price for the Shares subscribed for by the bondholder is EUR 1.8656 per Share, corresponding to 90 per cent of the lowest of (i) the volume weighted average price (“VWAP”) of a Share on the relevant payment date, and (ii) the lowest of the VWAPs of a Share on each of the five consecutive dealing days ending on (and including) the dealing day immediately preceding the relevant payment date. Therefore, the Company has approved the exercise of 517,795 Special Rights entitling to 517,795 new Shares, for an aggregate subscription price of EUR 965,998.35. The subscription price for the Shares subscribed for pursuant to the Special Rights is paid by setting off the Company’s debt to pay relevant amounts due under the First Tranche Bonds and recorded into the reserve for invested unrestricted equity.

Admission and Total Voting Rights
The 517,795 Shares subscribed for and issued are expected to be registered in the Finnish Trade Register on or around 3 December 2025. The Shares will rank pari passu in all respects with the existing shares of the Company once they are registered with the Finnish Trade Register.

The Company will make applications for the admission of the newly issued Shares to trading on Nasdaq First North Growth Market Finland (“First North“) maintained by Nasdaq Helsinki Ltd (“Nasdaq Helsinki“) and on AIM (“AIM“), the market of that name operated by London Stock Exchange plc (the “LSE“) with said admissions expected to become effective and trading to commence on or around 5 December 2025 (the “Admissions”).

Following the issuance, the aggregate number of ordinary shares in the Company is 118,563,143. Shares held in treasury by the Company do not confer a right to dividends or other shareholder rights. Following the registration, the Company will continue to have 4,142,678 shares in treasury (issued by the Company to itself previously on 27 May 2025) and therefore, the total number of voting rights in Faron will be 114,420,465 (the “Number of Shares and Votes“). This figure may be used by shareholders as the denominator for the calculations by which they will determine whether they are required to notify an interest in, or a change to their interest in, the Number of Shares and Votes of the Company.

For more information, please contact:

IR Partners, Finland (Media) Kare Laukkanen	+358 50 553 9535 / +44 7 469 766 223 kare.laukkanen@irpartners.fi
FINN Partners, US (Media) Alyssa Paldo	+1 847 791-8085 alyssa.paldo@finnpartners.com
Cairn Financial Advisers LLP (Nominated Adviser and Broker) Sandy Jamieson, Jo Turner	+44 (0) 207 213 0880
Sisu Partners Oy (Certified Adviser on Nasdaq First North) Juha Karttunen Jukka Järvelä	+358 (0)40 555 4727 +358 (0)50 553 8990

About Faron Pharmaceuticals Ltd

Forward-Looking Statements

Certain statements in this announcement are, or may be deemed to be, forward-looking statements. Forward looking statements are identified by their use of terms and phrases such as ”believe”, ”could”, “should”, “expect”, “hope”, “seek”, ”envisage”, ”estimate”, ”intend”, ”may”, ”plan”, ”potentially”, ”will” or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors’ current expectations and assumptions regarding the Company’s future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward-looking statements reflect the Directors’ current beliefs and assumptions and are based on information currently available to the Directors.

A number of factors could cause actual results to differ materially from the results and expectations discussed in the forward-looking statements, many of which are beyond the control of the Company. In addition, other factors which could cause actual results to differ materially include the ability of the Company to successfully license its programs within the anticipated timeframe or at all, risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes, actions by governmental authorities, the availability of capital markets or other sources of funding, reliance on key personnel, uninsured and underinsured losses and other factors. Although any forward-looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward-looking statements. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements. Subject to any continuing obligations under applicable law or any relevant AIM Rule requirements, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.

Faron Pharmaceuticals Ltd: Grant of Options

2.12.2025

Faron Pharmaceuticals Ltd | Company announcement | December 02, 2025 at 09:00:00 EET

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 180,000 options over 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 1 December 2026 and 1 December 2031, vesting 25% per annum over four years. The exercise price for Options allocated under the Share Option plan is €2.26 per share, which is calculated based on the average price per share at which the ordinary shares in the Company have been traded on AIM for 90 days preceding the allocation date of 1 December 2025. The terms of the Share Option Plan 2019 are available on the Company’s website at https://faron.com/wp-content/uploads/2025/04/20250321_Share-Option-Plan-2019_Rules_EN_clean.pdf

The granted 180,000 Options entitle the option holders to subscribe for a total of 180,000 new ordinary shares in the Company, if exercised in full, and represent 0.16% 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 directors, other persons discharging managerial responsibilities (“PDMRs”) and Company personnel:


Other PDMR
Jurriaan Dekkers	180,000

Total other PDMRs	180,000

For more information, please contact:

IR Partners, Finland (Media) Kare Laukkanen	+358 50 553 9535 / +44 7 469 766 223 kare.laukkanen@irpartners.fi
FINN Partners, US (Media) Alyssa Paldo	+1 847 791-8085 alyssa.paldo@finnpartners.com
Cairn Financial Advisers LLP (Nominated Adviser and Broker) Sandy Jamieson, Jo Turner	+44 (0) 207 213 0880
Sisu Partners Oy (Certified Adviser on Nasdaq First North) Juha Karttunen Jukka Järvelä	+358 (0)40 555 4727 +358 (0)50 553 8990

About Faron Pharmaceuticals Ltd

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	Jurriaan Dekkers
2	Reason for notification
a.	Position/Status	Person discharging managerial responsibilities
b.	Initial notification/ Amendment	Initial notification
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 Identification Code	Options over new ordinary shares ISIN: FI4000153309
b.	Nature of the transaction	Grant of options made under the Faron Share Option Plan 2019
c.	Price(s) and volume(s)
			Price(s)	Volume(s)
			€2.26	180,000

d.	Aggregated information – Aggregated Volume – Price	Nil
e.	Date of the transaction	2 December 2025
f.	Place of the transaction	Turku