Faron Pharmaceuticals Regulatory News (FARN)

Faron Pharmaceuticals Ltd | Company announcement | March 21, 2025 at 15:15:00 EET

Board Changes

TURKU, FINLAND - Faron Pharmaceuticals Ltd. (AIM: FARN, First North: FARON), a clinical-stage biopharmaceutical company pursuing a CLEVER approach to reprogramming myeloid cells to activate anti-tumor immunity in hematological and solid tumor microenvironments, is pleased to announce the appointment of Dr Juho Jalkanen to the Board of Directors as an Executive Director and Mr. Colin Bond to the Board of Directors as a Non-executive Director of the Company with immediate effect following the passing of all resolutions put to shareholders of the Company at the Annual General Meeting held earlier today.

Mr Bond has a wealth of international experience in contract development and manufacturing organisations ("CDMO") and biopharma industries and was most recently Chief Financial Officer of Sandoz listed on the SIX Swiss Exchange, where he played a key role in the company's successful spin-off from Novartis. Prior to Sandoz, Mr. Bond was Chief Financial Officer of Vifor Pharma Management AG and Evotec AG. He also served as Chair of the Audit Committee for Siegfried AG, a leading CDMO quoted on the SIX Swiss Exchange, for ten years until May 2023. Mr. Bond is Chair of the Audit Committee of BioPharma Credit PLC on the London Stock Exchange, and currently serves as a Non-executive Director at Medichem SA since 2025, Oxford Biomedica PLC since 2025, Agomab Therapeutics NV since 2024 and Formycon AG since 2024.

During his early career, Mr. Bond worked as a pharmacist, auditor and management consultant for Procter & Gamble, Arthur Andersen and PwC. Mr. Bond is a Fellow of the Institute of Chartered Accountants in England and Wales and a Member of the Royal Pharmaceutical Society of Great Britain. He holds a BSc in Pharmacy from Aston University and an MBA from London Business School.

Mr Bond graduated from Aston University in 1984 with a BSc Pharmacy and began his career with Proctor & Gamble working as a pharmacist, and he subsequently moved to Arthur Anderson & Co, qualifying as a chartered accountant and was admitted to the Institute of Chartered Accountants in England & Wales (ICAEW) in 1991. He undertook an MBA at London Business School in 1996.

The following information regarding the appointment of Mr. Colin Michael Bond (age 65) is disclosed under Schedule 2(g) of the AIM Rules for Companies and Nasdaq First North Growth Market Rulebook.

Mr. Bond holds no ordinary shares or options or warrants over ordinary shares in the Company.

Save as set out above, no further information regarding Mr. Bond is required to be disclosed pursuant to the AIM Rules for Companies or Nasdaq First North Growth Market Rulebook.

Juho Jalkanen is the current CEO of the Company. The following information regarding the appointment of Dr. Juho Markku Jalkanen (aged 47) is disclosed under Schedule 2(g) of the AIM Rules for Companies and Nasdaq First North Growth Market Rulebook. 

Dr. Jalkanen has an interest in 1,089,888 ordinary shares in the Company, approximately 0.98% of the Company's issued share capital. He also holds 567,040 stock options in the Company.

Dr. Jalkanen was appointed a director of PharMart Oy on 29 October 2013. In 2018 the company was placed into receivership and following the completion of the process was liquidated 25 March 2019.

Save as set out above, no further information regarding Dr. Jalkanen is required to be disclosed pursuant to the AIM Rules for Companies or Nasdaq First North Growth Market Rulebook.

For more information please contact:

ICR ConsiliumMary-Jane Elliott, David Daley, Lindsey NevillePhone: +44 (0)20 3709 5700E-mail: faron@icrhealthcare.com

Cairn Financial Advisers LLP, Nominated Advisor and Broker

Sandy Jamieson, Jo TurnerPhone: +44 (0) 207 213 0880

Sisu Partners Oy, Certified Adviser on Nasdaq First NorthJuha KarttunenPhone: +358 (0)40 555 4727Jukka JärveläPhone: +358 (0)50 553 8990

About Faron Pharmaceuticals Oy 

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 targeting 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 treatments and as a monotherapy in last line solid cancers. Further information is available at www.faron.com.