Faron Pharmaceuticals Oy Director/PDMR Shareholding (5385F)
May 18 2017 - 3:20AM
UK Regulatory
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
investor.relations@faron.com
Consilium Strategic Communications
Mary-Jane Elliott, Chris Welsh, Lindsey Neville
Phone: +44 (0)20 3709 5700
E-mail: faron@consilium-comms.com
Westwicke Partners, IR (US)
Chris Brinzey
Phone: 01 339 970 2843
E-Mail: chris.brinzey@westwicke.com
Cairn Financial Advisers LLP, Nominated Adviser
Emma Earl, Tony Rawlinson
Phone: +44 207 213 0880
Panmure Gordon (UK) Limited, Joint Broker
Freddy Crossley, Duncan Monteith (Corporate Finance)
Tom Salvesen (Corporate Broking)
Phone: +44 207 886 2500
Whitman Howard Limited, Nominated Broker (UK)
Ranald McGregor-Smith, Francis North
Phone: +44 207 659 1234
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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