PDMR Shareholding

RNS Number : 8816Q

Faron Pharmaceuticals Oy

05 December 2016

 

Faron Pharmaceuticals Oy
("Faron" or the "Company")

PDMR Shareholding

TURKU - FINLAND, 5 December 2016 - Faron Pharmaceuticals Ltd ("Faron") (LON: FARN), the clinical stage biopharmaceutical company, announces that on 16th and 19th September 2016 Dr Matti Karvonen, Medical Director of Faron, acquired ordinary shares in Faron on his own behalf and on behalf of his closely associated persons. As a member of the management group of Faron, Dr Karvonen is regarded as a person discharging managerial responsibility ("PDMR").    

PDMR                                                        Shares purchased

Matti Karvonen                                                        25,770

                                                                              25,770                                                              

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

For more information please contact:

Faron Pharmaceuticals Ltd

Katja Wallenlind

Phone [phone]
E-mail: [e-mail]

Hume Brophy, PR

Mary Clark, Eva Haas, Hollie Vile

Phone: [phone]

E-mail: [e-mail]

Cairn Financial Advisers LLP, Nominated Adviser

Emma Earl, Tony Rawlinson, Rebecca Anderson

Phone: [phone]

Panmure Gordon (UK) Limited, Joint Broker

Freddy Crossley, Duncan Monteith (Corporate Finance)

Tom Salvesen (Corporate Broking)

Phone: [phone]

Whitman Howard Limited, Nominated Broker

Ranald McGregor-Smith, Francis North

Phone: [phone]

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

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	1.    Matti Karvonen
2	Reason for notification
a.	Position/Status	Person discharging managerial responsibilities
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)
			1.    3.04€	16,770
d.	Aggregated information - Aggregated Volume - Price	N/a (Single transaction)
e.	Date of the transaction	16 September 2016
f.	Place of the transaction	Turku

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)
			1.     €2.78	9,000
d.	Aggregated information - Aggregated Volume - Price	N/a (Single transaction)
e.	Date of the transaction	19 September 2016
f.	Place of the transaction	Turku

 

END

 

 

DSHFSEFWEFMSEEE