Faron Pharmaceuticals Oy

("Faron" or the "Company")

Board Change

Company announcement, 23 April 2021 at 15:45 EET

TURKU, FINLAND - Faron Pharmaceuticals Oy (AIM: FARN, First North: FARON), the clinical stage biopharmaceutical company, is pleased to announce the appointment of Anne Whitaker as a Non-Executive Director of the Company following the passing of all resolutions put to shareholders of the Company at the AGM held earlier today. 

Anne has more than 25 years of experience in the life science industry, including senior leadership roles with large pharmaceutical, biotech and speciality pharma companies.  She is the current Chairman of the Board for Aerami Therapeutics Holdings, Inc. (formerly Dance Biopharm Holdings, Inc.), a private life science company.  Prior to taking the role of Chairman at Aerami, Anne served as the Company's Chief Executive Officer and a Director from October 2018 to November 2020. Anne served as Chief Executive Officer of Novoclem Therapeutics, Inc. from February 2017 until April 2018. Prior to that, she served as Executive Vice President at Bausch Health overseeing its Global Branded Pharmaceutical Business and the Western European Region from May 2015 to January 2017. Previously, Anne served as President and Chief Executive Officer of Synta Pharmaceuticals.  She also served as President, North America Pharmaceuticals at Sanofi, where she oversaw all pharmaceutical and consumer healthcare operations for the region and held several commercial leadership roles at GlaxoSmithKline.

Additional Disclosures

The following information regarding the appointment of Anne Michelle Clem Whitaker, aged 53, is disclosed under Schedule 2(g) of the AIM Rules for Companies:

Current directorships Former directorships and/or
and/or partnerships: partnerships (within the last five
years):
Aerami Therapeutics, Chason Dreams, LLC
Inc.
Anne Whitaker Group, Cree, Inc.
LLC
Caladrius Novoclem Therapeutics, Inc.
Biosciences, Inc.
Mallinckrodt plc* Vectura Group plc
UDG Healthcare plc

Ms Whitaker does not have any beneficial interest in the ordinary shares of the Company.

*Mallinckrodt plc has recently filed for bankruptcy while facing class action litigation.

Save as set out above, no further information regarding Anne Whitaker is required to be disclosed pursuant to Schedule Two, paragraph (g) of the AIM Rules for Companies.

For more information please contact:

Faron Pharmaceuticals Oy

Dr Markku Jalkanen, Chief Executive Officer

investor.relations@faron.com

Cairn Financial Advisers LLP, Nomad

Sandy Jamieson, Jo Turner, Mark Rogers

Phone: +44 207 213 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

Consilium Strategic Communications

Mary-Jane Elliott, David Daley, Lindsey Neville

Phone: +44 (0)20 3709 5700

Email: faron@consilium-comms.com

Stern Investor Relations

Julie Seidel, Alexa Comai

Phone: +1 (212) 362-1200

E-mail: julie.seidel@sternir.com

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 www.faron.com.