Update on INTEREST Phase III Study from IDMC

Faron Pharmaceuticals Oy

(“Faron” or the “Company”)

IDMC recommends Traumakine® Phase III ARDS study to continue as planned

~ Traumakine compassionate use program to be initiated as trial nears completion of recruitment ~

TURKU – FINLAND, 4 August, 2017 – Faron Pharmaceuticals Ltd (“Faron”) (LON: FARN), the clinical stage biopharmaceutical company, provides an update on the INTEREST Phase III study treating patients with moderate to severe Acute Respiratory Distress Syndrome (ARDS) with its lead product Traumakine, following a meeting of the trial’s Independent Data Monitoring Committee (IDMC) on 1 August 2017.

At this fifth and advanced meeting, the IDMC has recommended that the trial should continue as planned with no changes, consistent with the previous four IDMC recommendations. Faron anticipates that recruitment of the targeted 300 patients will complete during the fourth quarter of 2017.

As the INTEREST Phase III study nears completion, Faron plans to initiate an expanded access program for Traumakine to start once the trial is closed to new patients. This will allow compassionate use of Traumakine in eligible named patients at European ICU hospitals, who may benefit from Traumakine treatment ahead of the product’s potential regulatory approval.

ARDS is a severe orphan disease with a reported mortality rate of approximately 30-45%, for which there is currently no approved pharmacological treatment. It is characterised by widespread capillary leakage and inflammation in the lungs, most often as a result of pneumonia (e.g. following a pandemic influenza), sepsis, or significant trauma with around 300,000 annual cases in Europe and US.

Dr Markku Jalkanen, Chief Executive Officer of Faron Pharmaceuticals, commented: “We are very pleased to receive the IDMC’s recommendation that the INTEREST study should continue as planned. The trial is now moving into its final stages and we look forward to closing recruitment during the fourth quarter of 2017. Given this imminent completion, and based on the potential benefits that Traumakine could offer, further supported by another successful safety review, we plan to set up a compassionate use program for named patients with this severe disease following closure of the trial. The aim of this program is to provide continued access to Traumakine once the INTEREST trial sites close, until conclusion of the regulatory approval process.”

The INTEREST trial is a Phase III double-blind, randomised, parallel-group comparison of efficacy and safety of Traumakine (FP-1201-lyo) and placebo in the treatment of patients with moderate to severe ARDS. The study, designed to include up to 300 patients, is currently being conducted in 60 hospital intensive care units (ICU) in Belgium, Finland, France, Germany, Italy, Spain and UK. The primary efficacy endpoint in the INTEREST trial is the all-cause mortality rate at day 28, the only accepted primary end point for marketing approval by EMA. The INTEREST trial protocol is targeting a 50% reduction in all cause mortality at day 28 between placebo and treatment arm (from 30% to 15%).

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

– END –

For more information, please contact:

Faron Pharmaceuticals Oy

Dr Markku Jalkanen, Chief Executive Officer

investor.relations@faronpharmaceuticals.com

Consilium Strategic Communications

Mary-Jane Elliott, Chris Welsh, Philippa Gardner, Lindsey Neville

Phone: +44 (0)20 3709 5700

E-mail: faron@consilium-comms.com

Westwicke Partners, IR (US)

Chris Brinzey

Phone: 01 339 970 2843

E-Mail: chris.brinzey@westwicke.com

Cairn Financial Advisers LLP, Nominated Adviser

Emma Earl, Tony Rawlinson

Phone: +44 207 213 0880

Panmure Gordon (UK) Limited, Joint Broker

Freddy Crossley, Duncan Monteith (Corporate Finance)

Tom Salvesen (Corporate Broking)

Phone: +44 207 886 2500

Whitman Howard Limited, Nominated Broker (UK)

Ranald McGregor-Smith, Francis North

Phone: +44 207 659 1234

About Faron Pharmaceuticals Ltd

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 focusing on acute organ traumas, vascular damage and cancer immunotherapy. The Company’s lead candidate Traumakine, to prevent vascular leakage and organ failures, is currently the only treatment for Acute Respiratory Distress Syndrome (ARDS) undergoing Phase III clinical trials.  There is currently no approved pharmaceutical treatment for ARDS. An additional European Phase II Traumakine trial is underway for the Rupture of Abdominal Aorta Aneurysm (“RAAA”). Faron’s second candidate Clevegen® is a ground breaking pre-clinical anti-Clever-1 antibody. Clevegen has the ability to switch immune suppression to immune activation in various conditions, with potential across oncology, infectious disease and vaccine development. This novel macrophage-directed immuno-oncology switch called Tumour Immunity Enabling Technology (“TIET”) may be used alone or in combination with other immune checkpoint molecules for the treatment of cancer patients. Faron is based in Turku, Finland. Further information is available at www.faronpharmaceuticals.com

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identied by their use of terms and phrases such as ”believe”, ”could”, “should”, “expect”, ”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 reect 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 discussed in the forward looking statements including 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, reliance on key personnel, uninsured and underinsured losses and other factors, many of which are beyond the control of the Company. 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.

Holding(s) in Company

RNS Number : 4177M
Faron Pharmaceuticals Oy
28 July 2017
 
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are
attached:
ii

Faron Pharmaceuticals Oy

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to the
notification obligation:
iii

Aviva plc & its subsidiaries    

4. Full name of shareholder(s)
 (if different from 3.):iv

Registered Holder:

Chase (GA Group) Nominees Limited            1,151,067*

  HSBC Global Custody Nominee (UK) Limited    302,062*

State Street Nominees Limited         35,452*

     * denotes direct interest

Chase (GA Group) Nominees Limited                57,059

Chase Nominees Limited                                       35,158

5. Date of the transaction and date on
which the threshold is crossed or
reached:
v

26 July 2017

6. Date on which issuer notified:

27 July 2017

7. Threshold(s) that is/are crossed or
reached:
vi, vii

6% to 5% Change at Combined Interest Level.  Figures are provided in accordance with provisions of your company articles and not in fulfilment of the requirements of the Transparency Directive.

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type of
shares


if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of  voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

Ordinary Shares

FI4000153309

1,910,798

1,910,798

1,580,798

1,488,581

92,217

5.33%

0.33%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date
xiii

Exercise/
Conversion Period
xiv

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

% of voting
rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise price

Expiration date xvii

Exercise/
Conversion period
xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

1,580,798

5.66%

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:
xxi

The voting rights are managed and controlled by Aviva Investors Global Services Limited, with the following chain of controlled undertakings:-

Aviva Investors Global Services Limited:

·      Aviva plc (Parent Company)

·      Aviva Group Holdings Limited (wholly owned subsidiary of Aviva plc)

·      Aviva Investors Holdings Limited (wholly owned subsidiary of Aviva Group Holdings Limited)

·      Aviva Investors Global Services Limited (wholly owned subsidiary of Aviva Investors Holdings Limited)

Proxy Voting:

10. Name of the proxy holder:

See Section 4

11. Number of voting rights proxy holder will cease
to hold:

12. Date on which proxy holder will cease to hold
voting rights:


13. Additional information:


Figures are based on a total number of voting rights of  27,914,544 as per the company’s Announcement of 1 June 2017.

14. Contact name:

Neil Whittaker, Aviva plc

15. Contact telephone number:

00 44 1603 684420


This information is provided by RNS
The company news service from the London Stock Exchange
 

END

 
 

HOLFMGZNRRGGNZG

Holding(s) in Company

RNS Number : 6404K
Faron Pharmaceuticals Oy
10 July 2017
 

For filings with the FCA include the annex

For filings with issuer exclude the annex

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are
attached:
ii

Faron Pharmaceuticals Oy

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to the
notification obligation:
iii

Aviva plc & its subsidiaries    

4. Full name of shareholder(s)
 (if different from 3.):iv

Registered Holder:

Chase (GA Group) Nominees Limited            1,414,752*

HSBC Global Custody Nominee (UK) Limited 347,410*

State Street Nominees Limited                            35,452*

            * denotes direct interest

Chase (GA Group) Nominees Limited                 71,497

Chase Nominees Limited                                     41,687

5. Date of the transaction and date on
which the threshold is crossed or
reached:
v

05 July 2017

6. Date on which issuer notified:

07 July 2017

7. Threshold(s) that is/are crossed or
reached:
vi, vii

7% to 6% Change at Combined Interest Level.  Figures are provided in accordance with provisions of your company articles and not in fulfilment of the requirements of the Transparency Directive.

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type of
shares


if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of  voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

Ordinary Shares

FI4000153309

1,910,798

1,910,798

1,797,614

1,797,614

113,184

6.44%

0.41%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date
xiii

Exercise/
Conversion Period
xiv

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

% of voting
rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise price

Expiration date xvii

Exercise/
Conversion period
xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

1,910,798

6.85%

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:
xxi

The voting rights are managed and controlled by Aviva Investors Global Services Limited, with the following chains of controlled undertakings:-

Aviva Investors Global Services Limited:

·      Aviva plc (Parent Company)

·      Aviva Group Holdings Limited (wholly owned subsidiary of Aviva plc)

·      Aviva Investors Holdings Limited (wholly owned subsidiary of Aviva Group Holdings Limited)

·      Aviva Investors Global Services Limited (wholly owned subsidiary of Aviva Investors Holdings Limited)

Proxy Voting:

10. Name of the proxy holder:

See Section 4

11. Number of voting rights proxy holder will cease
to hold:

12. Date on which proxy holder will cease to hold
voting rights:


13. Additional information:


Figures are based on a total number of voting rights of  27,914,544 as per the company’s Announcement of 1 June 2017.

14. Contact name:

Neil Whittaker, Aviva plc

15. Contact telephone number:

00 44 1603 684420


This information is provided by RNS
The company news service from the London Stock Exchange
 

END

 
 

HOLDMGMNKGVGNZM

Notice of Results

Faron Pharmaceuticals Oy

(“Faron” or the “Company”)

Notice of Interim Results

TURKU – FINLAND, 10 July 2017 – Faron Pharmaceuticals Ltd (“Faron”) (LON: FARN), the clinical stage biopharmaceutical company, will be announcing its interim results for the six months ended 30th June, 2017 on Wednesday 6th September, 2017.

Dr Markku Jalkanen, Chief Executive Officer and Yrjö Wichmann, Chief Financial Officer, will host a presentation and conference call for analysts at 9:30am BST on the day of the results at the offices of Panmure Gordon & Co, 1 New Change, London, EC4M 9AF.

– END –

For more information, please contact:

Faron Pharmaceuticals Oy

Dr Markku Jalkanen, Chief Executive Officer

investor.relations@faronpharmaceuticals.com

Consilium Strategic Communications

Mary-Jane Elliott, Chris Welsh, Lindsey Neville

Phone: +44 (0)20 3709 5700

E-mail: faron@consilium-comms.com

Westwicke Partners, IR (US)

Chris Brinzey

Phone: 01 339 970 2843

E-Mail: chris.brinzey@westwicke.com

Cairn Financial Advisers LLP, Nominated Adviser

Emma Earl, Tony Rawlinson

Phone: +44 207 213 0880

Panmure Gordon (UK) Limited, Joint Broker

Freddy Crossley, Duncan Monteith (Corporate Finance)

Tom Salvesen (Corporate Broking)

Phone: +44 207 886 2500

Whitman Howard Limited, Nominated Broker (UK)

Ranald McGregor-Smith, Francis North

Phone: +44 207 659 1234

About Faron Pharmaceuticals Ltd

Faron is a clinical stage biopharmaceutical company developing novel treatments for medical conditions with significant unmet needs. The Company currently has a pipeline focusing on acute organ traumas, cancer immunotherapy and vascular damage. The pipeline is built on Faron’s scientific knowledge and control of the endothelial barrier, the membrane of cells lining blood and lymphatic vessels to separate blood content from tissues. The Company’s lead candidate Traumakine® is in development for the treatment of Acute Respiratory Distress Syndrome (“ARDS”), a rare, severe, life-threatening medical condition characterised by widespread inflammation in the lungs. Traumakine is currently in pan-European (INTEREST) and Japanese pivotal Phase III studies. Additionally, Faron is developing Clevegen® a ground breaking pre-clinical anti-Clever-1 antibody. Clevegen has the ability to convert the immune environment around a tumour from being immune suppressive to immune stimulating. This novel macrophage-directed immuno-oncology approach is called Tumour Immunity Enabling Technology (“TIET”) and can be used alone or in combination with other immune checkpoint molecules for the treatment of cancer patients. New application opportunities related to TIET cover chronic infections and inefficient vaccination. Based in Turku, FinlandFaron Pharmaceuticals is listed on AIM under the ticker ‘FARN’. Further information is available at www.faronpharmaceuticals.com

Director/PDMR Shareholding

Faron Pharmaceuticals Oy

(“Faron” or the “Company”)

Director/PDMR Shareholding

 Shares used for collateral of a personal bank loan of the Director

TURKU – FINLAND, 16 June 2017 – Faron Pharmaceuticals Ltd (“Faron”) (LON: FARN), the clinical stage biopharmaceutical company, announces that on 13 June 2017 Dr Juho Jalkanen, Vice President of Business Development of Faron, pledged 70,000 ordinary shares of the Company (“Ordinary Shares”) held by him, as collateral for a personal bank loan provided to Dr Jalkanen (“Collateral Shares”).   Dr Jalkanen’s total holding in the Company, including that of his family, continues to be 1,082,570 ordinary shares (including the Collateral Shares). The total number of Ordinary Shares held by Dr Jalkanen and pledged as collateral is 125,000 Ordinary Shares.

The notification below, which has been made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

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

Juho Jalkanen

2

Reason for notification

a.

Position/Status

Person discharging managerial responsibilities

Vice President of Business Development of Faron

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

Ordinary shares

ISIN: FI4000153309

b.

Nature of the transaction

Shares used for collateral of a personal bank loan of the Director

c.

Price(s) and volume(s)

Price(s)

Volume(s)

       735 pence

70,000

d.

Aggregated information

– Aggregated Volume

– Price

70,000

GBP514,500.00

e.

Date of the transaction

13 June 2017

f.

Place of the transaction

Turku

For more information please contact:

Faron Pharmaceuticals Ltd

Dr Markku Jalkanen, Chief Executive Officer

investor.relations@faron.com

Consilium Strategic Communications

Mary-Jane Elliott, Chris Welsh, Lindsey Neville

Phone: +44 (0)20 3709 5700

E-mail: faron@consilium-comms.com

Westwicke Partners, IR (US)

Chris Brinzey

Phone: 01 339 970 2843

E-Mail: chris.brinzey@westwicke.com

Cairn Financial Advisers LLP, Nominated Adviser

Emma Earl, Tony Rawlinson

Phone: +44 207 213 0880

Panmure Gordon (UK) Limited, Joint Broker

Freddy Crossley, Duncan Monteith (Corporate Finance)

Tom Salvesen (Corporate Broking)

Phone: +44 207 886 2500

Whitman Howard Limited, Nominated Broker (UK)

Ranald McGregor-Smith, Francis North

Phone: +44 207 659 1234

About Faron Pharmaceuticals Ltd

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 focusing on acute organ traumas, vascular damage and cancer immunotherapy. The Company’s lead candidate Traumakine, to prevent vascular leakage and organ failures, is currently the only treatment for Acute Respiratory Distress Syndrome (ARDS) undergoing Phase III clinical trials.  There is currently no approved pharmaceutical treatment for ARDS. An additional European Phase II Traumakine trial is underway for the Rupture of Abdominal Aorta Aneurysm (“RAAA”). Faron’s second candidate Clevegen® is a ground breaking pre-clinical anti-Clever-1 antibody. Clevegen has the ability to switch immune suppression to immune activation in various conditions, with potential across oncology, infectious disease and vaccine development. This novel macrophage-directed immuno-oncology switch called Tumour Immunity Enabling Technology (“TIET”) may be used alone or in combination with other immune checkpoint molecules for the treatment of cancer patients. Faron is based in Turku, Finland. Further information is available at www.faronpharmaceuticals.com

Exercise of Warrants and Options

Faron Pharmaceuticals Oy

(“Faron” or the “Company”)

Exercise of Warrants and Options

Issue of Equity

TURKU – FINLAND, 1 June 2017 – Faron Pharmaceuticals Ltd (“Faron”) (LON: FARN), the clinical stage biopharmaceutical company, announces that it has received a notification from a warrant holder to exercise warrants over 71,370 ordinary shares in the Company at an exercise price of €1.55 per share and a further 27,040 ordinary shares in the Company at an exercise price of €2.01 per share providing the Company with gross proceeds of €164,973.90 (approximately £143,082).

The Company further announces that it has received a notification from an option holder to exercise options over 15,000 ordinary shares in the Company at an exercise price of €3.71 per share and a further 14,100 ordinary shares in the Company at an exercise price of €2.90 per share providing the Company with gross proceeds of €96,540.00 (approximately £83,729).

Application will be made to the London Stock Exchange to admit the 127,510 new ordinary shares to trading on AIM. Admission of the new ordinary shares is expected to occur on or around 06 June 2017 (“Admission”).  The new ordinary shares will rank pari passu with existing ordinary shares. Issue of the new ordinary shares remains subject to such shares being registered at the Finnish Trade Registry.

Faron’s enlarged issued number of shares immediately following registration and Admission will be 27,914,544 ordinary shares with voting rights attached. The Company has no shares in treasury; therefore upon, and subject to, registration, the total number of voting rights in Faron will be 27,914,544. 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 issued shares and votes of the Company.

For more information please contact:

Faron Pharmaceuticals Ltd

Dr Markku Jalkanen, Chief Executive Officer

investor.relations@faron.com

Consilium Strategic Communications

Mary-Jane Elliott, Chris Welsh, Lindsey Neville

Phone: +44 (0)20 3709 5700

E-mail: faron@consilium-comms.com

Westwicke Partners, IR (US)

Chris Brinzey

Phone: 01 339 970 2843

E-Mail: chris.brinzey@westwicke.com

Cairn Financial Advisers LLP, Nominated Adviser

Emma Earl, Tony Rawlinson

Phone: +44 207 213 0880

Panmure Gordon (UK) Limited, Joint Broker

Freddy Crossley, Duncan Monteith (Corporate Finance)

Tom Salvesen (Corporate Broking)

Phone: +44 207 886 2500

Whitman Howard Limited, Nominated Broker (UK)

Ranald McGregor-Smith, Francis North

Phone: +44 207 659 1234

About Faron Pharmaceuticals Ltd

Faron is a clinical stage biopharmaceutical company developing novel treatments for medical conditions with significant unmet needs. The Company currently has a pipeline focusing on acute organ traumas, cancer immunotherapy and vascular damage. The pipeline is built on Faron’s scientific knowledge and control of the endothelial barrier, the membrane of cells lining blood and lymphatic vessels to separate blood content from tissues. The Company’s lead candidate Traumakine® is in development for the treatment of Acute Respiratory Distress Syndrome (“ARDS”), a rare, severe, life-threatening medical condition characterised by widespread inflammation in the lungs. Traumakine is currently in pan-European (INTEREST) and Japanese pivotal Phase III studies. Additionally, Faron is developing Clevegen® a ground breaking pre-clinical anti-Clever-1 antibody. Clevegen has the ability to convert the immune environment around a tumour from being immune suppressive to immune stimulating. This novel macrophage-directed immuno-oncology approach is called Tumour Immunity Enabling Technology (“TIET”) and can be used alone or in combination with other immune checkpoint molecules for the treatment of cancer patients. New application opportunities related to TIET cover chronic infections and inefficient vaccination. Based in Turku, Finland, Faron Pharmaceuticals is listed on AIM under the ticker ‘FARN’. Further information is available at www.faronpharmaceuticals.com

Holdings in Company

RNS Number : 5889G
Faron Pharmaceuticals Oy
30 May 2017
 

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

1. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are
attached:
ii

Faron Pharmaceuticals Oy

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

X

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to the
notification obligation:
iii

City Financial Investment Company Limited, acting as Investment Manager and Authorised Corporate Director of the City Financial Absolute Equity Fund

4. Full name of shareholder(s)
 (if different from 3.):iv

BNY Mellon Trust and Depositary as Trustee to the City Financial Absolute Equity Fund

5. Date of the transaction and date on
which the threshold is crossed or
reached:
v

26 May 2017

6. Date on which issuer notified:

30 May 2017

7. Threshold(s) that is/are crossed or
reached:
vi, vii

4%

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type of
shares


if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of  voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

1,105,530

1,140,530

1,140,530

1,105,530

1,105,530

0

3.98%

0

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date
xiii

Exercise/
Conversion Period
xiv

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

% of voting
rights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise price

Expiration date xvii

Exercise/
Conversion period
xviii

Number of voting rights instrument refers to

% of voting rights xix, xx

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

1,105,530

3.98%

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable:
xxi

The voting rights are managed and controlled by City Financial Investment Company Limited, Investment manager and ACD to the City Financial Absolute Equity Fund.

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease
to hold:

12. Date on which proxy holder will cease to hold
voting rights:


13. Additional information:

14. Contact name:

Ben Ellenbogen

15. Contact telephone number:

0207 451 9600


This information is provided by RNS
The company news service from the London Stock Exchange
 

END

 
 

HOLXBLFXDEFBBBZ

Director/PDMR Shareholding

This is a correction to the press release issued by Faron Pharmaceuticals on 18 April 2017 in which the volume of the transaction in the announcement and section 4c of the PDMR dealing form has been amended to 4200 shares and the aggregate information and price in section 4d have been corrected to 4200 shares and 33 600 GBP respectively.

The corrected release is below. 

Faron Pharmaceuticals Oy

(“Faron” or the “Company”)

PDMR Dealing

TURKU – FINLAND, 22 May 2017 – Faron Pharmaceuticals Ltd (“Faron”) (LON: FARN), the clinical stage biopharmaceutical company, announces that on 20 May 2017 it was notified of a correction to Dr Matti Karvonen’s PDMR Dealing announced on 18 May 2017. It was notified that Dr Matti Karvonen, Medical Director of Faron, acquired 4200 shares on 16 May 2017 (previously announced as 5000 ordinary shares) in Faron at a price of 800 pence per ordinary share.

The notification below, which has been made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

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

Matti Karvonen                                                               

2

Reason for notification

a.

Position/Status

Person discharging managerial responsibilities

Medical Director of Faron

b.

Initial notification/

Amendment

Amendment to the Notification announced 18 May 2017

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

Ordinary shares

ISIN: FI4000153309

b.

Nature of the transaction

Purchase of Ordinary Shares

c.

Price(s) and volume(s)

Price(s)

Volume(s)

800 GBPp

4 200

d.

Aggregated information

– Aggregated Volume

– Price

4 200

33 600 GBP

e.

Date of the transaction

16 May 2017

f.

Place of the transaction

Turku

For more information please contact:

Faron Pharmaceuticals Ltd

Dr Markku Jalkanen, Chief Executive Officer

investor.relations@faron.com

Consilium Strategic Communications

Mary-Jane Elliott, Chris Welsh, Lindsey Neville

Phone: +44 (0)20 3709 5700

E-mail: faron@consilium-comms.com

Westwicke Partners, IR (US)

Chris Brinzey

Phone: 01 339 970 2843

E-Mail: chris.brinzey@westwicke.com

Cairn Financial Advisers LLP, Nominated Adviser

Emma Earl, Tony Rawlinson

Phone: +44 207 213 0880

Panmure Gordon (UK) Limited, Joint Broker

Freddy Crossley, Duncan Monteith (Corporate Finance)

Tom Salvesen (Corporate Broking)

Phone: +44 207 886 2500

Whitman Howard Limited, Nominated Broker (UK)

Ranald McGregor-Smith, Francis North

Phone: +44 207 659 1234

About Faron Pharmaceuticals Ltd

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 focusing on acute organ traumas, vascular damage and cancer immunotherapy. The Company’s lead candidate Traumakine, to prevent vascular leakage and organ failures, is currently the only treatment for Acute Respiratory Distress Syndrome (ARDS) undergoing Phase III clinical trials.  There is currently no approved pharmaceutical treatment for ARDS. An additional European Phase II Traumakine trial is underway for the Rupture of Abdominal Aorta Aneurysm (“RAAA”). Faron’s second candidate Clevegen® is a ground breaking pre-clinical anti-Clever-1 antibody. Clevegen has the ability to switch immune suppression to immune activation in various conditions, with potential across oncology, infectious disease and vaccine development. This novel macrophage-directed immuno-oncology switch called Tumour Immunity Enabling Technology (“TIET”) may be used alone or in combination with other immune checkpoint molecules for the treatment of cancer patients. Faron is based in Turku, Finland. Further information is available at www.faronpharmaceuticals.com

Director/PDMR Shareholding

Faron Pharmaceuticals Oy

(“Faron” or the “Company”)

Person Closely Associated with  PDMR Dealing

TURKU – FINLAND, 22 May 2017 – Faron Pharmaceuticals Ltd (“Faron”) (LON: FARN), the clinical stage biopharmaceutical company, announces that on 19 May 2017 it was notified that a person closely associated with Dr Matti Karvonen, Medical Director of Faron has acquired 1000 ordinary shares in Faron at a price of 760 pence and 1700 ordinary shares in Faron at a price 780 pence per ordinary share.

The notification below, which has been made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

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

Minja Pfeiffer                     

2

Reason for notification

a.

Position/Status

Person closely associated with Matti Karvonen,  Medical Director of Faron

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

Ordinary shares

ISIN: FI4000153309

b.

Nature of the transaction

Purchase of Ordinary Shares

c.

Price(s) and volume(s)

Price(s)

Volume(s)

760 GBPp

780 GBPp

1 000

1 700

d.

Aggregated information

– Aggregated Volume

– Price

2 700

20 860 GBP

e.

Date of the transaction

19 May 2017

f.

Place of the transaction

Turku

For more information please contact:

Faron Pharmaceuticals Ltd

Dr Markku Jalkanen, Chief Executive Officer

investor.relations@faron.com

Consilium Strategic Communications

Mary-Jane Elliott, Chris Welsh, Lindsey Neville

Phone: +44 (0)20 3709 5700

E-mail: faron@consilium-comms.com

Westwicke Partners, IR (US)

Chris Brinzey

Phone: 01 339 970 2843

E-Mail: chris.brinzey@westwicke.com

Cairn Financial Advisers LLP, Nominated Adviser

Emma Earl, Tony Rawlinson

Phone: +44 207 213 0880

Panmure Gordon (UK) Limited, Joint Broker

Freddy Crossley, Duncan Monteith (Corporate Finance)

Tom Salvesen (Corporate Broking)

Phone: +44 207 886 2500

Whitman Howard Limited, Nominated Broker (UK)

Ranald McGregor-Smith, Francis North

Phone: +44 207 659 1234

About Faron Pharmaceuticals Ltd

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 focusing on acute organ traumas, vascular damage and cancer immunotherapy. The Company’s lead candidate Traumakine, to prevent vascular leakage and organ failures, is currently the only treatment for Acute Respiratory Distress Syndrome (ARDS) undergoing Phase III clinical trials.  There is currently no approved pharmaceutical treatment for ARDS. An additional European Phase II Traumakine trial is underway for the Rupture of Abdominal Aorta Aneurysm (“RAAA”). Faron’s second candidate Clevegen® is a ground breaking pre-clinical anti-Clever-1 antibody. Clevegen has the ability to switch immune suppression to immune activation in various conditions, with potential across oncology, infectious disease and vaccine development. This novel macrophage-directed immuno-oncology switch called Tumour Immunity Enabling Technology (“TIET”) may be used alone or in combination with other immune checkpoint molecules for the treatment of cancer patients. Faron is based in Turku, Finland. Further information is available at www.faronpharmaceuticals.com

Director/PDMR Shareholding

Faron Pharmaceuticals Oy

(“Faron” or the “Company”)

PDMR Dealing

TURKU – FINLAND, 18 May 2017 – Faron Pharmaceuticals Ltd (“Faron”) (LON: FARN), the clinical stage biopharmaceutical company, announces that on 16 May 2017 it was notified that Dr Matti Karvonen, Medical Director of Faron, acquired 5000 ordinary shares in Faron at a price of 800 pence per ordinary share.

The notification below, which has been made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

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

Matti Karvonen                                                               

2

Reason for notification

a.

Position/Status

Person discharging managerial responsibilities

Medical Director of Faron

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

Ordinary shares

ISIN: FI4000153309

b.

Nature of the transaction

Purchase of Ordinary Shares

c.

Price(s) and volume(s)

Price(s)

Volume(s)

800 GBPp

5 000

d.

Aggregated information

– Aggregated Volume

– Price

5 000

40 000 GBP

e.

Date of the transaction

16 May 2017

f.

Place of the transaction

Turku

For more information please contact:

Faron Pharmaceuticals Ltd

Dr Markku Jalkanen, Chief Executive Officer

investor.relations@faron.com

Consilium Strategic Communications

Mary-Jane Elliott, Chris Welsh, Lindsey Neville

Phone: +44 (0)20 3709 5700

E-mail: faron@consilium-comms.com

Westwicke Partners, IR (US)

Chris Brinzey

Phone: 01 339 970 2843

E-Mail: chris.brinzey@westwicke.com

Cairn Financial Advisers LLP, Nominated Adviser

Emma Earl, Tony Rawlinson

Phone: +44 207 213 0880

Panmure Gordon (UK) Limited, Joint Broker

Freddy Crossley, Duncan Monteith (Corporate Finance)

Tom Salvesen (Corporate Broking)

Phone: +44 207 886 2500

Whitman Howard Limited, Nominated Broker (UK)

Ranald McGregor-Smith, Francis North

Phone: +44 207 659 1234

About Faron Pharmaceuticals Ltd

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 focusing on acute organ traumas, vascular damage and cancer immunotherapy. The Company’s lead candidate Traumakine, to prevent vascular leakage and organ failures, is currently the only treatment for Acute Respiratory Distress Syndrome (ARDS) undergoing Phase III clinical trials.  There is currently no approved pharmaceutical treatment for ARDS. An additional European Phase II Traumakine trial is underway for the Rupture of Abdominal Aorta Aneurysm (“RAAA”). Faron’s second candidate Clevegen® is a ground breaking pre-clinical anti-Clever-1 antibody. Clevegen has the ability to switch immune suppression to immune activation in various conditions, with potential across oncology, infectious disease and vaccine development. This novel macrophage-directed immuno-oncology switch called Tumour Immunity Enabling Technology (“TIET”) may be used alone or in combination with other immune checkpoint molecules for the treatment of cancer patients. Faron is based in Turku, Finland. Further information is available at www.faronpharmaceuticals.com

Back to top