TIDMFARN
RNS Number : 4705M
Faron Pharmaceuticals Oy
11 May 2020
Faron Pharmaceuticals Oy
("Faron" or the "Company")
Faron receives EUR800,000 grant from Business Finland as part of
Cancer IO, Finland's leading Personalized Health Program
- Grant will enable state-of-the-art characterization of
immunological responses in MATINS trial
- Clevegen to be studied in experimental combinations with
anti-cancer molecules from other consortium members
Company announcement, 11 May 2020 at 12.00 PM (EET)
Inside information
TURKU - FINLAND - Faron Pharmaceuticals Oy (AIM: FARN, First
North: FARON), the clinical stage biopharmaceutical company,
announces today that it has joined a Finnish consortium, Cancer IO,
and received an EUR800,000 grant from Business Finland to conduct
detailed, state-of-the-art characterization of the immunological
responses seen in cancer patients in the Company's MATINS
trial.
The ongoing phase I/II MATINS clinical trial is investigating
the tolerability, safety and efficacy of Clevegen, Faron's
wholly-owned novel precision cancer immunotherapy targeting
Clever-1 positive tumour associated macrophages (TAM), in selected
metastatic or inoperable solid tumours.
As part of the Business Finland backed initiative, Faron will
also study Clevegen in combination with other anti-cancer
molecules, in experimental settings together with other consortium
members.
Cancer IO is a new cancer immunotherapy-focused EUR10 million
top-level collaborative research and innovation project within
Business Finland's Personalized Health Program. Coordinated by the
University of Helsinki, it integrates immuno-oncology (IO)
activities at the universities of Helsinki and Turku, three Finnish
university hospitals and one central hospital, eight Finnish SMEs,
Finnish cancer patient organizations and nine of the largest
IO-investing pharmaceutical companies operating in Finland. Cancer
IO has been established to drive the creation of a Finnish IO
ecosystem and national IO growth strategy, aiming to provide wealth
and well-being through disruptive Nordic IO innovations and better
care. Faron's participation in this significant national
immuno-oncology effort will include sharing clinical development
expertise and samples from ongoing trials, and providing Clevegen
for consortium experiments.
Dr. Markku Jalkanen, Faron's CEO, said: "We are very pleased to
join this leading initiative, which will deepen our understanding
of Clevegen's effects during the MATINS trial, enable us to better
characterize and understand the immune responses of patients
receiving novel treatments, test different therapies in combination
with Clevegen in a variety of laboratories and experimental
settings, as well as possibly find new leads to take further into
development."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 ("MAR").
For more information please contact:
Faron Pharmaceuticals Oy
Dr Markku Jalkanen, Chief Executive Officer
investor.relations@faron.com
Panmure Gordon (UK) Limited, Nomad and Broker
Emma Earl, Freddy Crossley (Corporate Finance)
James Stearns (Corporate Broking)
Phone: +44 207 886 2500
Sisu Partners Oy, Certified Adviser on Nasdaq First North
Juha Karttunen, Jussi Majamaa
Phone: +358 (0)40 555 4727
Consilium Strategic Communications
Mary-Jane Elliott, David Daley, Lindsey Neville
Phone: +44 (0)20 3709 5700
E-mail: faron@consilium-comms.com
About Faron Pharmaceuticals Ltd
Faron (AIM: FARN, First North: FARON) is a clinical stage
biopharmaceutical company developing novel treatments for medical
conditions with significant unmet needs. The Company currently has
a pipeline based on the receptors involved in regulation of immune
response in oncology and organ damage. Clevegen, its precision
immunotherapy, is a novel anti-Clever-1 antibody with the ability
to switch immune suppression to immune activation in various
conditions, with potential across oncology, infectious disease and
vaccine development. Currently in phase I/II clinical development
as a novel macrophage checkpoint immunotherapy for patients with
untreatable solid tumours, Clevegen has potential as a single-agent
therapy or in combination with other standard treatments including
immune checkpoint molecules. Traumakine, the Company's pipeline
candidate to prevent vascular leakage and organ failures, has
completed a phase III clinical trial in Acute Respiratory Distress
Syndrome (ARDS). Plans for its future development are being
finalised to avoid interfering steroid use together with
Traumakine. Faron is based in Turku, Finland. Further information
is available at www.faron.com
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed
to be, forward looking statements. Forward looking statements are
identified by their use of terms and phrases such as "believe",
"could", "should", "expect", "hope", "seek", "envisage",
"estimate", "intend", "may", "plan", "potentially", "will" or the
negative of those, variations or comparable expressions, including
references to assumptions. These forward-looking statements are not
based on historical facts but rather on the Directors' current
expectations and assumptions regarding the Company's future growth,
results of operations, performance, future capital and other
expenditures (including the amount, nature and sources of funding
thereof), competitive advantages, business prospects and
opportunities. Such forward looking statements reflect the
Directors' current beliefs and assumptions and are based on
information currently available to the Directors.
A number of factors could cause actual results to differ
materially from the results and expectations discussed in the
forward-looking statements, many of which are beyond the control of
the Company. In particular, the early data from initial patients in
the MATINS trial may not be replicated in larger patient numbers
and the outcome of clinical trials may not be favourable or
clinical trials over and above those currently planned may be
required before the Company is able to apply for marketing approval
for a product. In addition, other factors which could cause actual
results to differ materially include the ability of the Company to
successfully licence its programmes within the anticipated
timeframe or at all, risks associated with vulnerability to general
economic and business conditions, competition, environmental and
other regulatory changes, actions by governmental authorities, the
availability of capital markets or other sources of funding,
reliance on key personnel, uninsured and underinsured losses and
other factors. Although any forward-looking statements contained in
this announcement are based upon what the Directors believe to be
reasonable assumptions, the Company cannot assure investors that
actual results will be consistent with such forward looking
statements. Accordingly, readers are cautioned not to place undue
reliance on forward looking statements. Subject to any continuing
obligations under applicable law or any relevant AIM Rule
requirements, in providing this information the Company does not
undertake any obligation to publicly update or revise any of the
forward-looking statements or to advise of any change in events,
conditions or circumstances on which any such statement is
based.
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 rns@lseg.com or visit www.rns.com.
END
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