Faron Pharmaceuticals Oy PDMR Dealings (5353G)

TIDMFARN

RNS Number : 5353G

Faron Pharmaceuticals Oy

06 November 2018

Faron Pharmaceuticals Oy

("Faron" or the "Company")

PDMR Dealings

TURKU - FINLAND, 6 November 2018 - Faron Pharmaceuticals Ltd ("Faron") (LON: FARN), the clinical stage biopharmaceutical company, announces that on 6 November 2018 it was notified of the following PDMR dealing.

On 26 October 2018, Dr Matti Karvonen, VP Drug Development, Chief Medical Officer of Faron, had acquired 20,000 ordinary shares in Faron at a price of 82.90 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.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").

 
 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 
                                     - VP Drug Development, Chief Medical Officer 
      ---------------------------  ----------------------------------------------------------- 
 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) 
      ---------------------------         ------------- 
    82.90 GBPp                                            20,000 
   ----------------------------------------------------  ------------ 
 
 d.    Aggregated information 
 
        - Aggregated Volume           N/A 
 
        - Price                       N/A 
      ---------------------------  ----------------------------------------------------------- 
 e.    Date of the transaction      October 26, 2018 
      ---------------------------  ----------------------------------------------------------- 
 f.    Place of the transaction     London Stock Exchange, AIM Market 
      ---------------------------  ----------------------------------------------------------- 
 
 

For more information please contact:

Faron Pharmaceuticals Ltd

Dr Markku Jalkanen, Chief Executive Officer

[e-mail]

Consilium Strategic Communications

Mary-Jane Elliott, 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

Emma Earl, Freddy Crossley

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 and in 2017 received advice from US FDA to proceed directly to BLA submission following completion of EU and Japanese Phase III studies. 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 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 Turn-on-your-Immunity or Turn-It 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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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November 06, 2018 10:52 ET (15:52 GMT)