Faron
Pharmaceuticals Oy
("Faron
or the "Company")
Insider
Information: Appointment of Chief Financial Officer
Company announcement, Inside
information
15
April 2024 at 2:00 a.m. EDT / 7:00 a.m. BST / 9:00 a.m.
EEST
TURKU, FINLAND / BOSTON,
MA - Faron Pharmaceuticals Ltd. (AIM: FARN,
First North: FARON), a clinical-stage biopharmaceutical company
pursuing a CLEVER approach to reprogramming myeloid cells to
activate anti-tumor immunity in hematological and solid tumor
microenvironments, today announces the
appointment of Yrjö Wichmann as the Company's interim Chief
Financial Officer (CFO), effective 15 April, 2024. Mr. Wichmann
succeeds James O'Brien, who is leaving Faron to pursue another
career opportunity.
Mr. Wichmann served as the Company's
CFO between 2014 and 2019 and is an accomplished biotech and
financial executive with over 20 years' experience in financing and
investment banking. Most recently, Mr. Wichmann has served as
Senior Vice President, Financing & IR at
Faron. Prior to his
roles at Faron, Mr Wichmann held a number of senior positions
within the life sciences and biotechnology sector at IP Finland Oy,
Biohit Oyj (NASDAQ OMX Helsinki), CapMan Oyj, FibroGen Europe Oyj
(NASDAQ) and D. Carnegies & Co AB. He is a member of the
Investment Committee at Dasos Timberland Fund I and II and a board
member at Nordic Science Investment Oy. Mr Wichmann holds a
Master's in Economics from Helsinki University.
"As a former CFO of this Company
and, most recently, our Senior Vice
President, Financing & IR,
Yrjö is well positioned to take up the role of
Interim CFO whilst we look for a permanent replacement." said Chief
Executive Officer of Faron, Dr. Markku Jalkanen. "On behalf of the
Board, I would like to thank Jim for his service to Faron. His
contributions, during very challenging market conditions, have been
considerable and very much appreciated, and we wish him all the
best in his next role."
Mr. Wichmann, incoming Interim Chief
Financial Officer said: "As we continue to progress our ambitious
program for bexmarilimab,
my priority is to advance a financing plan that will secure our
cash runway and enable the rapid development of this important,
novel immunotherapy, which has enormous potential for patients and
shareholders. I look forward to working with Markku, the Board and
incoming CEO, Juho Jalkanen, to deliver on our next
milestones."
James O'Brien, outgoing Chief
Financial Officer, said: "During my time at Faron, I have been
impressed by the strength of its science and by the professionalism
and unwavering commitment of the team, and I continue to believe in
the potential of bexmarilimab to provide a new, safe
and effective treatment option for patients suffering from
aggressive cancers. I wish the team great success for the
future."
For
more information please contact:
Faron Pharmaceuticals
Investor Contact
LifeSci Advisors
Daniel Ferry
Managing Director
daniel@lifesciadvisors.com
+1 (617) 430-7576
ICR Consilium
Mary-Jane Elliott, David Daley,
Lindsey Neville
Phone: +44 (0)20 3709
5700
E-mail: faron@consilium-comms.com
Cairn Financial Advisers LLP,
Nomad
Sandy Jamieson, Jo Turner
Phone: +44 (0) 207 213
0880
Peel Hunt LLP, Broker
Christopher Golden, James
Steel
Phone: +44 (0) 20 7418
8900
Sisu Partners Oy, Certified Adviser
on Nasdaq First North
Juha Karttunen
Phone: +358 (0)40 555
4727
Jukka Järvelä
Phone: +358 (0)50 553
8990
About Faron Pharmaceuticals
Oy
Faron (AIM: FARN, First North:
FARON) is a global, clinical-stage biopharmaceutical company,
focused on tackling cancers via novel immunotherapies. Its mission
is to bring the promise of immunotherapy to a broader population by
uncovering novel ways to control and harness the power of the
immune system. The Company's lead asset is bexmarilimab, a novel anti-Clever-1
humanized antibody, with the potential to remove immunosuppression
of cancers through targeting myeloid cell function. Bexmarilimab is being investigated in
Phase I/II clinical trials as a potential therapy for patients with
hematological cancers in combination with other standard treatments
and as a monotherapy in last line solid cancers. Further
information is available at www.faron.com.