Finland's Faron Pharmaceuticals states intention to float on LSE's AIM

7 September 2015

Finnish biopharma company Faron has announced its intention to raise new funds through a placing and offer for subscriptions, and to apply for trading on the AIM market of the London Stock Exchange.

Faron's lead drug, Traumakine (recombinant interferon beta-1a), is in Phase III development for acute respiratory distress syndrome (ARDS). There is currently no pharmacological treatment for ARDS, which has a 30%-45% mortality rate. The drug has a strong market position with a clear regulatory pathway, having been granted Orphan Drug designation in Europe. Faron has entered into an agreement with Japanese pharma company Maruishi to develop and commercialize Traumakine in Japan. The company’s pipeline aside from Traumakine includes a novel cancer immunotherapy, Clevegen.

Faron is led by an experienced management team, including its chief executive Markku Jalkanen, who was the founding chief executive and president of the first publicly-traded biotech company in Finland.

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