Faron Pharmaceuticals Ltd: Director/PCA Dealing and Donation of Shares to Foundation
Faron Pharmaceuticals Ltd | Company announcement | June 05, 2025 at 18:00:00 EEST
TURKU, FINLAND – Faron Pharmaceuticals Ltd. (AIM: FARN, First North: FARON), a clinical-stage biopharmaceutical company focused on developing novel immunotherapies, announces that its founding members Markku Jalkanen, a director of the Company, and his spouse Sirpa Jalkanen have on 3 June 2025 donated 500,000 ordinary shares in the Company to the Finnish Foundation that bears their name (“Sirpa ja Markku Jalkasen Säätiö sr”, Business ID 1729345-2) (the ”Foundation”). Markku Jalkanen donated 400,000 ordinary shares and Sirpa Jalkanen donated 100,000 ordinary shares.
The purpose of the Foundation is to promote and support high-quality medical research in Finland, and the donors want to support the realization of the Foundation’s purpose with this donation. The Foundation is independent of Markku and Sirpa Jalkanen. Following receipt of the donation, the Foundation will be interested in 500,000 ordinary shares in the Company, representing approximately 0.45 per cent. of the total voting rights in the Company. In addition, on 3 June 2025, Markku and Sirpa Jalkanen have sold in aggregate 300,000 ordinary shares in the Company. Markku Jalkanen sold 200,000 ordinary shares and Sirpa Jalkanen sold 100,000 ordinary shares.
Further details are set out in the Notification of Dealing Form below.
| Director/PCA | Holding prior to sale/disposal | Number of ordinary shares sold / disposed | Resultant interest in ordinary shares in the Company | Resultant percentage of voting rights in the Company |
| Markku Jalkanen | 2,225,266 | 600,000 | 1,625,266 | 1.45% |
| Sirpa Jalkanen | 1,188,168 | 200,000 | 988,168 | 0.88% |
Following the above transactions, the aggregate holdings of Markku and Sirpa Jalkanen amount to 2,613,434 ordinary shares in the Company, representing approximately 2.33 per cent. of the voting rights in the Company.
For more information, please contact:
| IR Partners, Finland (Media) Riina Tuominen Kare Laukkanen |
+358 44 313 5005 riina.tuominen@irpartners.fi +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 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 | Markku Jalkanen Sirpa Jalkanen |
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| 2 | Reason for notification | ||||
| a. | Position/Status | Non-executive Director PCA |
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| 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 |
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| b. | Nature of the transaction | Disposal of ordinary shares | |||
| Price(s) per share (p) | Volume(s) | ||||
| Nil €3.09816 Nil |
400,000 200,000 100,000 |
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| d. | Aggregated information Volume Price |
Transaction details (a) Transaction details (b) |
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| e. | Date of the transaction | 03/06/2025 | |||
| f. | Place of the transaction | Nasdaq First North Growth Market | |||