(“Faron” or “the Company”)
Composition of Faron Pharmaceutical’s Shareholders’ Nomination Board
Company Announcement, 5 November 2024
TURKU, FINLAND – Faron Pharmaceuticals Ltd. (AIM: FARN, First North: FARON), a pioneering clinical-stage biopharmaceutical company dedicated to developing innovative immunotherapies for cancer treatment, announced today the formation of its Shareholders’ Nomination Board. This Board will play a crucial role in representing the interests of the Company’s top stakeholders.
- Timo Syrjälä, representing himself (Chair)
- Erkka Kohonen, representing Varma Mutual Pension Insurance Company, and
- Joonas Haakana, representing UMO Capital
Faron’s Shareholders’ Nomination Board consists of three prominent members, each selected to reflect the diverse interests of the Company’s shareholders. Additionally, the Chair of Faron’s Board of Directors, Mr. Tuomo Pätsi, will provide his expertise to the Nomination Board in a non-voting advisory capacity.
The Shareholders’ Nomination Board holds the important responsibility of preparing and presenting well-considered proposals to the Annual General Meeting (AGM) regarding the number, composition, and remuneration of Board members and the Chair of the Board of Directors. This process ensures that the governance structure adapts to the evolving landscape of corporate needs.
For more information please contact:
ICR Healthcare
Mary-Jane Elliott, David Daley, Lindsey Neville
Phone: +44 (0)20 3709 5700
E-mail: faron@icrhealthcare.com
Cairn Financial Advisers LLP, Nomad
Sandy Jamieson, Jo Turner
Phone: +44 (0) 207 213 0880
Peel Hunt LLP, Broker
Christopher Golden, James Steel
Phone: +44 (0) 20 7418 8900
Sisu Partners Oy, Certified Adviser on Nasdaq First North
Juha Karttunen
Phone: +358 (0)40 555 4727
Jukka Järvelä
Phone: +358 (0)50 553 8990
About BEXMAB
The BEXMAB study is an unprecedented Phase I/II clinical trial examining the efficacy of bexmarilimab in conjunction with standard care treatments for aggressive hematological malignancies, specifically acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS). The primary emphasis of this study is to assess the safety and overall tolerability of bexmarilimab administered alongside standard treatment protocols, such as azacitidine. This innovative approach directly targets Clever-1, a protein implicated in the replication of cancer cells, aiming to enhance immune response and make current treatments more effective. Clever-1 is notably overexpressed in AML and MDS, contributing to therapeutic resistance and poor clinical outcomes.
About bexmarilimab
Bexmarilimab is a proprietary investigational immunotherapy developed by Faron aimed at overcoming resistance to traditional cancer treatments and enhancing clinical outcomes. The therapy effectively binds to Clever-1, an immunosuppressive receptor present on macrophages, contributing to tumor progression and metastasis by allowing cancer cells to escape immune surveillance. By targeting this receptor, bexmarilimab has the potential to transform the tumor microenvironment, shifting macrophage function from immunosuppressive (M2) to immunostimulatory (M1) states, ultimately going on to upregulate interferon production, priming the immune system for a vigorous attack against the tumor while sensitizing cancer cells to standard therapeutic regimens.
About Faron Pharmaceuticals Ltd
Faron (AIM: FARN, First North: FARON) is a forward-thinking, global clinical-stage biopharmaceutical company dedicated to combating cancer through cutting-edge immunotherapies. The company’s mission centers on expanding access to innovative immunotherapy solutions across diverse patient populations by exploring new avenues to leverage the immune system’s power. Faron’s lead investigational product, bexmarilimab, is a groundbreaking anti-Clever-1 humanized antibody designed to disrupt the immunosuppressive environment created by cancers through the reprogramming of myeloid cell function. Currently, bexmarilimab is undergoing rigorous Phase I/II clinical trials aimed at assessing its efficacy as part of therapy for hematological cancers, in combination with established treatment protocols. For more details, interested parties are encouraged to visit www.faron.com.
**Interview with Dr. Tuomo Pätsi, Chair of Faron Pharmaceuticals’ Board of Directors**
**Editor:** Thank you for joining us today, Dr. Pätsi. Recently, Faron Pharmaceuticals announced the formation of its Shareholders’ Nomination Board. Can you explain the significance of this board for the company?
**Dr. Pätsi:** Thank you for having me. The formation of the Shareholders’ Nomination Board is crucial for Faron as it represents our commitment to ensuring diverse and effective governance. The board will facilitate constructive discussions about potential candidates for our Board of Directors, aligning with the interests of our stakeholders and enhancing our overall decision-making framework.
**Editor:** The board consists of three prominent members, including Timo Syrjälä as Chair. Could you elaborate on the choice of these members and their roles?
**Dr. Pätsi:** Absolutely. We selected Timo Syrjälä, Erkka Kohonen, and Joonas Haakana based on their extensive experience and the unique perspectives they bring representing Varma and UMO Capital. Their involvement ensures that the shareholders’ views are well represented and considered in our governance processes. My role as a non-voting advisor allows me to provide support while ensuring that the shareholders’ interests remain the focal point.
**Editor:** Faron is known for its clinical-stage development of bexmarilimab. How does the work of the Nomination Board intersect with your ongoing projects, especially with developments like the BEXMAB trial?
**Dr. Pätsi:** The Nomination Board’s work is integral to ensuring that we have the right leadership in place to guide our innovative projects, including the BEXMAB study, which focuses on enhancing the treatment of aggressive hematological malignancies. By ensuring strong governance, we can better navigate the complexities of clinical trials and improve our capacity to bring transformative therapies to market.
**Editor:** As Faron continues to evolve, what do you see as the key challenges for the company moving forward?
**Dr. Pätsi:** One of the main challenges is maintaining a robust pipeline of innovative treatments while ensuring regulatory compliance and funding. The landscape in biopharma is rapidly evolving, so adaptability and a clear vision for our research and development goals will be essential. The Nomination Board will play a critical role in securing the leadership we need to tackle these challenges effectively.
**Editor:** Thank you for your insights, Dr. Pätsi. We look forward to seeing how Faron Pharmaceuticals continues to grow and innovate in the biopharmaceutical space.
**Dr. Pätsi:** Thank you for your interest in Faron. We’re excited about what lies ahead!
