Statement regarding Price Movement

RNS Number : 9517X

Faron Pharmaceuticals Oy

02 May 2019

 

Faron Pharmaceuticals Ltd

("Faron" or the "Company")

Statement regarding Price Movement

TURKU - FINLAND, 2 May 2019 - Faron Pharmaceuticals Ltd ("Faron") (AIM: FARN), the clinical stage biopharmaceutical company, notes the recent movement in its share price and the Company confirms that it knows of no operational or corporate reason for the share price move.

As noted in the Company's announcements on 26 March 2019 and 11 April 2019, the Company continues to progress both its key products, Clevegen and Traumakine. In particular, as announced, the Company has seen encourgaing early observations in the MATINS trial of potential early clinical benefits in dosed patients and the Company is currently engaged in partnering discussions with several parties. Whilst there can be no guarantee, the Company hope for a positive outcome from these negotiations during 2019.

**ENDS**

For more information please contact:

Faron Pharmaceuticals Ltd

Dr Markku Jalkanen, Chief Executive Officer

[e-mail] 

Consilium Strategic Communications

Mary-Jane Elliott, David Daley, Lindsey Neville 

Phone: [phone]

E-mail: [e-mail]

Westwicke Partners, IR (US)

Chris Brinzey

Phone: [phone]

E-Mail: [e-mail]

Panmure Gordon (UK) Limited, Nomad and Broker

Emma Earl, Freddy Crossley

Phone: [phone] 

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 and in 2017 received advice from US FDA to proceed directly to BLA submission following completion of EU and Japanese Phase III studies.  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 Turn-on-your-Immunity or Turn-It 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.faron.com

 

END

 

 

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