Purchase of Shares

RNS Number : 6340C

Faron Pharmaceuticals Oy

18 April 2017

 

This is a correction to the press release issued by Faron Pharmaceuticals on 13 April 2017 in which the nature of the transaction in section 4b of the PDMR dealing form has been corrected to Purchase of Ordinary Shares.  All other details within the announcement remain the same. 

Faron Pharmaceuticals Oy
 

("Faron" or the "Company")

Purchase of Shares

TURKU - FINLAND, 13 April 2017 - Faron Pharmaceuticals Ltd ("Faron") (LON: FARN), the clinical stage biopharmaceutical company, announces that between 30th of March and 5th April 2016 Dr Matti Karvonen, Medical Director of Faron has aqcuired ordinary shares in Faron on his own and his connected persons behalf. 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                                                          9 950

Matti Karvonen connected persons                            10 000

Total PDMRs                                                          19 950                                                                

For more information please contact:

Faron Pharmaceuticals Ltd

Dr Markku Jalkanen, Chief Executive Officer

[e-mail]

Consilium Strategic Communications

Mary-Jane Elliott, Chris Welsh, Lindsey Neville

Phone: [phone]

E-mail: [e-mail]

Westwicke Partners, IR (US)

Chris Brinzey

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 (UK)

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.     £5.10 2.     £6.60 3.     £6.50 4.     £6.40	1.     5,000 2.     1,429 3.     8,521 4.     5,000
d.	Aggregated information - Aggregated Volume - Price	19,950
e.	Date of the transaction	30 March to 5th April 2017
f.	Place of the transaction	Turku

 

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