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Faron Pharmaceuticals Admission to AIM and first day of dealings £10 million fundraise to progress Phase III clinical trial

Faron Pharmaceuticals Oy ("Faron”), the clinical stage biopharmaceutical company, is pleased to announce the commencement of dealings in its Ordinary Shares on the AIM market of the London Stock Exchange with effect from 8.00 a.m. today under the ticker FARN and the ISIN number FI4000153309. This follows a successful placing and subscription for 3,846,154 new Ordinary Shares, raising £10.0 million at a price of 260p per ordinary share (the “Fundraising”).


Dr Markku Jalkanen, CEO of Faron, said: “Faron’s fundraising and admission to AIM is an important landmark for the Company. We believe that the support shown by both new and existing shareholders demonstrates a strong understanding of the value of our late stage product Traumakine®, in development for the treatment of acute respiratory distress syndrome (ARDS). Currently there are no approved pharmacological treatments for this life threatening medical condition.


“Admission to AIM provides a great opportunity to strengthen our business and support our objective of progressing our lead programme through a pan-European Phase III trial, and the development of our pre-clinical cancer immunotherapy candidate, Clevegen. We look forward to reporting on the Company's continuing progress as an AIM-quoted company and would like to welcome and thank our investors for their involvement."

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