Faron Pharmaceuticals Oy PDMR Shareholding (8816Q)

TIDMFARN

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(R) 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(R) 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/                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 of                       Ordinary shares 
         the financial 
         instrument, type                     ISIN: FI4000153309 
         of instrument 
 
         Identification 
         Code 
-----  -----------------------------------  ------------------------------------------------------- 
 b.     Nature of the                        Purchase of Ordinary Shares 
         transaction 
-----  -----------------------------------  ------------------------------------------------------- 
 
 c.     Price(s) and volume(s)                Price(s)                          Volume(s) 
-----  -----------------------------------   --------------------------------  ---------------- 
          1. 3.04EUR                                                             16,770 
   --------------------------------------------------------------------------  ---------------- 
 
 d.     Aggregated information 
 
         - Aggregated Volume                   N/a (Single transaction) 
 
         - Price 
-----  -----------------------------------  ------------------------------------------------------- 
 e.     Date of the transaction              16 September 2016 
-----  -----------------------------------  ------------------------------------------------------- 
 f.     Place of the transaction             Turku 
-----  -----------------------------------  ------------------------------------------------------- 
 
 
 
 a.    Description of              Ordinary shares 
        the financial 
        instrument, type            ISIN: FI4000153309 
        of instrument 
 
        Identification 
        Code 
----  --------------------------  ------------------------------------ 
 b.    Nature of the               Purchase of Ordinary Shares 
        transaction 
----  --------------------------  ------------------------------------ 
 
 c.    Price(s) and volume(s)       Price(s)             Volume(s) 
----  --------------------------   -------------------  ---------- 
         1. EUR2.78                                      9,000 
   ---------------------------------------------------  ---------- 
 
 d.    Aggregated information 
 
        - Aggregated Volume          N/a (Single transaction) 
 
        - Price 
----  --------------------------  ------------------------------------ 
 e.    Date of the transaction     19 September 2016 
----  --------------------------  ------------------------------------ 
 f.    Place of the transaction    Turku 
----  --------------------------  ------------------------------------ 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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December 05, 2016 02:46 ET (07:46 GMT)