Faron Pharmaceuticals Oy Director/PDMR Shareholding (5385F)

TIDMFARN

RNS Number : 5385F

Faron Pharmaceuticals Oy

18 May 2017

Faron Pharmaceuticals Oy

("Faron" or the "Company")

PDMR Dealing

TURKU - FINLAND, 18 May 2017 - Faron Pharmaceuticals Ltd ("Faron") (LON: FARN), the clinical stage biopharmaceutical company, announces that on 16 May 2017 it was notified that Dr Matti Karvonen, Medical Director of Faron, acquired 5000 ordinary shares in Faron at a price of 800 pence per ordinary share.

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

 
 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                     Matti Karvonen 
                               ------------------------------------- 
 2     Reason for 
        notification 
----  -----------------------  ------------------------------------- 
 a.    Position/Status          Person discharging managerial 
                                 responsibilities 
 
                                 Medical Director of Faron 
----  -----------------------  ------------------------------------- 
 b.    Initial notification/    Initial Notification 
        Amendment 
----  -----------------------  ------------------------------------- 
 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              Ordinary shares 
        of the financial 
        instrument,              ISIN: FI4000153309 
        type of instrument 
 
        Identification 
        Code 
----  -----------------------  ------------------------------------- 
 b.    Nature of the            Purchase of Ordinary Shares 
        transaction 
----  -----------------------  ------------------------------------- 
 
 c.    Price(s) and              Price(s)               Volume(s) 
        volume(s) 
----  -----------------------   ---------------------  ---------- 
               800 GBPp                                  5 000 
   --------------------------------------------------  ---------- 
 
 d.    Aggregated 
        information 
                                  5 000 
        - Aggregated 
        Volume                    40 000 GBP 
 
        - Price 
----  -----------------------  ------------------------------------- 
 e.    Date of the              16 May 2017 
        transaction 
----  -----------------------  ------------------------------------- 
 f.    Place of the             Turku 
        transaction 
----  -----------------------  ------------------------------------- 
 
 

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

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 (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. 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(R) 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 Tumour Immunity Enabling Technology ("TIET") 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.faronpharmaceuticals.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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May 18, 2017 04:20 ET (08:20 GMT)