Faron Pharmaceuticals
Ltd.
("Faron"
or the "Company")
Faron Appoints Dr. Petri Bono
as new CMO
Company announcement, 6 August 2024 at 8:30 a.m. BST / 10:30
a.m. EEST
TURKU, Finland - Faron
Pharmaceuticals Ltd. (AIM: FARN, First North: FARON), a
clinical-stage biopharmaceutical company pursuing a CLEVER-1
receptor targeting approach to reprogramming myeloid cells to
activate anti-tumor immunity in treatment resistant hematological
malignancies and solid tumors, is pleased to announce the
appointment of Dr. Petri Bono (M.D., Ph.D.) as the new Chief
Medical Officer (CMO) starting the 15th of
August.
Previously Dr. Bono has served as
the Chief Medical Officer and member of the Group executive team of
Terveystalo, the largest private healthcare service provider in
Finland. Prior to Terveystalo he was the Chief Medical Officer at
Helsinki University Hospital. In addition to being Associate
Professor of Cancer Biology at University of Helsinki, Dr. Bono has
held various leadership positions within Helsinki University
Hospital, including as the Director and Physician-in-Chief of the
Comprehensive Cancer Center. Dr. Bono has participated in numerous
oncology trials from Phase 1 to 3, including early phase
immuno-oncological trials and published 102 peer reviewed papers in
international journals including New England Journal of Medicine,
Lancet Oncology, JAMA as well as Cancer Cell.
Dr. Bono's own research has been
focusing on molecular and immunological oncology. Given his
translational and clinical studies in targeted therapies and
applied immunology, he is uniquely suited to support Faron's
immuno-oncology program to tackle cancers via novel myeloid cell
targeting immunotherapies that will bring the promise of
immunotherapy to much broader patient populations, especially in
the solid tumors space.
"Bexmarilimab is an exceptional asset.
It is an industry-leading agent in macrophage re-programming and
has wide applicability in the treatment of a variety of cancers.
Macrophages remain a key source of treatment resistance in solid
tumors and in many instances bexmarilimab has shown it can induce
responses and overcome this resistance. I am thrilled to develop
further Faron's novel and innovative immunotherapy program, and
make bexmarilimab a
cornerstone of future cancer care", says Dr. Bono the in-coming CMO
of Faron.
"We are delighted to have such an
experienced and proactive oncologist join us as the new CMO", says
Dr. Juho Jalkanen, CEO of Faron. "This
especially strengthens us in respect to our up-coming expansion
plans into solid tumors, as we expect to benefit from the
experience and broader shoulders of a partner for late-stage
development in hematology. This means maximizing our expertise and
development capabilities in both solid tumors and hematological
malignancies using a mix of internal know-how and strategic
partnerships to generate broader value for both patients and
investors."
Dr. Birge Berns, the acting CMO
seconded from tranScrip Ltd. will continue her role as part of the
medical leadership involved in developing bexmarilimab. "We are very grateful
for tranScrip and Dr. Berns' services and look forward to
continuing this partnership. Dr. Berns has had a vital role in our
success with the FDA and bringing Bexmarilimab to where it is today.,
She will continue to have an important role in shaping our
development and regulatory strategy as we go forward", continues
Dr. Jalkanen.
For
more information please contact:
Investor Contact
Faron Pharmaceuticals
E-mail: investor.relations@faron.com
Media Contact
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 BEXMAB
The BEXMAB study is an open-label
Phase 1/2 clinical trial investigating bexmarilimab in combination with
standard of care (SoC) in the aggressive hematological malignancies
of acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS).
The primary objective is to determine the safety and tolerability
of bexmarilimab in combination with SoC (azacitidine) treatment.
Directly targeting Clever-1 could limit the replication capacity of
cancer cells, increase antigen presentation, ignite an immune
response, and allow current treatments to be more effective.
Clever-1 is highly expressed in both AML and MDS and associated
with therapy resistance, limited T cell activation and poor
outcomes.
About Bexmarilimab
Bexmarilimab is Faron's wholly
owned, investigational immunotherapy designed to overcome
resistance to existing treatments and optimize clinical outcomes,
by targeting myeloid cell function and igniting the immune system.
Bexmarilimab binds to
Clever-1, an immunosuppressive receptor found on macrophages
leading to tumor growth and metastases (i.e. helps cancer evade the
immune system). By targeting the Clever-1 receptor on macrophages,
bexmarilimab alters the
tumor microenvironment, reprogramming macrophages from an
immunosuppressive (M2) state to an immunostimulatory (M1) one,
upregulating interferon production and priming the immune system to
attack tumors and sensitizing cancer cells to standard of
care.
About Faron Pharmaceuticals Ltd.
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 reprogramming 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. Further information is available at
www.faron.com.
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 addition, other
factors which could cause actual results to differ materially
include the ability of the Company to successfully license its
programs 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.