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Faron Pharmaceuticals Oy

("Faron" or the "Company")

Grant of options

Company announcement, 29 April 2021 at 14.45 (EEST)

TURKU, FINLAND - Faron Pharmaceuticals Oy (AIM: FARN, First North: FARON), the clinical-stage biopharmaceutical company, announces that the Company's board has confirmed the grant of a total of 728,333 options over ordinary shares in the Company ("Options") under the Company's Share Option Plan 2019. The Options have been allocated under the Share Option Plan 2019 and are exercisable between 24 March 2022 and 24 March 2026 at an exercise price of €3.99 per share (£3.47), vesting 25% per annum over four years. The exercise price is calculated based on the average price per share at which the ordinary shares in the Company have been traded on AIM for 90 days preceding the allocation date of 24 March 2021. The terms of the Share Option Plan 2019 are as attached to the notice of the Company's 2020 annual general meeting, available on the Company's website at

The granted 728,333 Options entitle the option holders to subscribe for a total of 728,333 new ordinary shares in the Company, if exercised in full, and represent 1.4% of the fully diluted ordinary share capital of the Company.

Included in the number of Options granted are the following Options which were issued to directors, other persons discharging managerial responsibilities ("PDMRs"), scientific advisory board ("SAB") members and Company personnel:

Director Options granted
Armstrong Frank 60,000
Brown Gregory 30,000
Jalkanen Markku 120,000
Manner Matti 30,000
Poulos John 30,000
Whitaker Anne 30,000
Zambeletti Leopoldo 30,000
Total directors 330,000

Other PDMR
Honkasalo Pessi 12,000
Hänninen Toni 43,333
Jalkanen Juho 32,500
Karvonen Matti 32,500
Lahtinen Maria 21,000
Mandelin Jami 21,000
Total other PDMRs 162,333

SAB member
Curiel Tyler 10,000
Jalkanen Sirpa* 10,000
Knowles Jonathan 10,000
Total SAB 30,000
*Jalkanen Sirpa is a person closely
associated ("PCA") to Jalkanen

Total Company personnel 206,000

For more information please contact:

Faron Pharmaceuticals Oy

Dr Markku Jalkanen, Chief Executive Officer

[email protected]

Peel Hunt LLP, Broker

Christopher Golden, James Steel

Phone: +44 (0) 20 7418 8900

Cairn Financial Advisers LLP, Nomad

Sandy Jamieson, Jo Turner, Mark Rogers

Phone: +44 (0) 20 7213 0880

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

Consilium Strategic Communications

Mary-Jane Elliott, David Daley, Lindsey Neville

Phone: +44 (0) 20 3709 5700

Email: [email protected]

Stern Investor Relations

Julie Seidel, Alexa Comai

Phone: +1 (212) 362-1200

Email: [email protected]

About Faron Pharmaceuticals Oy

Faron (AIM: FARN, First North: FARON) is a clinical stage biopharmaceutical company developing novel treatments for medical conditions with significant unmet needs caused by dysfunction of our immune system. The Company currently has a pipeline based on the receptors involved in regulation of immune response in oncology, organ damage and bone marrow regeneration. Bexmarilimab, a novel anti-Clever-1 humanised antibody, is its investigative precision immunotherapy with the potential to provide permanent immune stimulation for difficult-to-treat cancers through targeting myeloid function. Currently in Phase I/II clinical development as a potential therapy for patients with untreatable solid tumours, bexmarilimab has potential as a single-agent therapy or in combination with other standard treatments including immune checkpoint molecules. Traumakine® is an investigational intravenous (IV) interferon beta-1a therapy for the treatment of acute respiratory distress syndrome (ARDS) and other ischemic or hyperinflammatory conditions. Traumakine® is currently being evaluated in global trials as a potential treatment for hospitalised patients with COVID-19 and with the 59th Medical Wing of the US Air Force and the US Department of Defense for the prevention of multiple organ dysfunction syndrome (MODS) after ischemia-reperfusion injury caused by a major trauma.  Faron is based in Turku, Finland. Further information is available at

of a
pursuant to
19(1) of
(EU) No.
1 Details of the person
discharging managerial
closely associated
a. Name Armstrong Frank
Brown Gregory
Honkasalo Pessi
Hänninen Toni
Jalkanen Juho
Jalkanen Markku
Jalkanen Sirpa
Karvonen Matti
Lahtinen Maria
Mandelin Jami
Manner Matti
Poulos John
Whitaker Anne
Zambeletti Leopoldo
2 Reason for notification
a. Position/Status Person discharging
on closely
b. Initial Initial notification
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
a. Description of the financial Options over
instrument, type of ordinary shares
instrument ISIN: FI4000153309
Identification Code
b. Nature of the transaction Grant of options
made under the Faron
Share Option Plan
2019 exercisable
at €3.99 per
ordinary share
c. Price(s) and volume(s)
Price(s) Volume(s)

d. Aggregated information- 502,333Nil
Aggregated Volume- Price
e. Date of the transaction 28 April 2021
f. Place of the transaction Turku

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 endothelial receptors involved in regulation of immune response, in oncology and organ damage.