- Turku-based Faron’s shares has been listed on Helsinki First North
- Helsinki helps the Nordic investors trade on the company’s shares
- Faron is known for its Clevegen and Traumakine pipeline candidates
Nasdaq has announced that trading in Faron Pharmaceuticals Oy shares has commenced on Nasdaq First North Growth Market Finland. The Turku-based company belongs to the Health Care sector. The shares of the company have been listed on AIM in the London Stock Exchange since 2015. Faron Pharmaceuticals is the 54th company to be admitted to trading on Nasdaq’s Nordic markets in 2019, and it represents the sixth listing on Nasdaq Helsinki in 2019.
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 immune checkpoint molecules or other cancer standard cares.
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®.
“We are delighted to have our shares now listed also at the Nasdaq First North Growth Market in Helsinki. A secondary listing will enhance the company’s visibility and facilitatethe trading of the stockin the Nordic countries, where we have several Finnish and Scandinavian shareholders,” says Markku Jalkanen, the CEO of Faron Pharmaceuticals.
“We welcome Faron Pharmaceuticals to Nasdaq First North Growth Market Finland,” said Henrik Husman, President of Nasdaq Helsinki. “It is great that the company dual lists its shares on Nasdaq First North so that the Nordic investors can easier trade on the company’s shares. We look forward to a lasting partnership with the company and its shareholders.”