Faron Pharmaceuticals Oy Director/PDMR Shareholding (1700O)

TIDMFARN

RNS Number : 1700O

Faron Pharmaceuticals Oy

15 May 2018

Faron Pharmaceuticals Oy

("Faron" or the "Company")

PDMR Dealing

TURKU - FINLAND, 15 May 2018 - Faron Pharmaceuticals Ltd ("Faron") (LON: FARN), the clinical stage biopharmaceutical company, announces that on 14 May 2018 it was notified that on 8 May 2018 Dr Matti Karvonen, Medical Director of Faron has acquired 6,800 ordinary shares in Faron at a price of 128.5 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 
-----  ----------------------------  ------------------------------------- 
 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) 
-----  ----------------------------   ------------------  ------------- 
    128.5 GBPp                                             6,800 
   -----------------------------------------------------  ------------- 
 
 d.     Aggregated 
         information 
                                        6,800 
         - Aggregated 
         Volume                         GBP 8,738.23 
 
         - Price 
-----  ----------------------------  ------------------------------------- 
 e.     Date of the                   May 8, 2018 
         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, Philippa Gardner, Matthew Neal, Lindsey Neville

Phone: [phone]

E-mail: [e-mail]

Westwicke Partners, IR (US)

Chris Brinzey

Phone: [phone]

E-Mail: [e-mail]

Panmure Gordon (UK) Limited, Nomad and Broker

Freddy Crossley, Emma Earl, Ryan McCarthy

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, has completed a Phase III clinical trial in Acute Respiratory Distress Syndrome ("ARDS"). An additional European Phase II Traumakine trial is underway for the Rupture of Abdominal Aorta Aneurysm ("RAAA"). Faron's second candidate Clevegen is a ground breaking preclinical 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.faron.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

May 15, 2018 10:14 ET (14:14 GMT)