Faron Pharmaceuticals Oy has announced the retirement of its current Chief Executive Officer (CEO), Dr. Markku Jalkanen, who will continue as a Board Member. The company's Nomination Committee has recommended Dr. Juho Jalkanen, the current Chief Operating Officer, as the best candidate to succeed Dr. Markku Jalkanen as CEO, effective May 1, 2024, subject to regulatory approval. Dr. Markku Jalkanen expressed his confidence in the new CEO, stating, "I also strongly believe in the promise of bexmarilimab to provide a new safe and effective cancer treatment option for a vast patient group, either as a stand-alone or combination therapy."

Dr. Juho Jalkanen, the incoming CEO, expressed his honor at being chosen for the role, saying, "I have enjoyed leading the development of bexmarilimab as COO and look forward to the exciting future ahead of us as I continue to work relentlessly with the Faron team to deliver results for patients and shareholders."

The company has been preparing for CEO succession, and the appointment of Dr. Juho Jalkanen is part of a seamless transition plan. The Board and Dr. Markku Jalkanen have outlined a plan for the transition, ensuring continuity and support for the new CEO. The company is focused on continuing its efforts on fundraising for a longer-term solution and the development of bexmarilimab as a potential new safe and effective cancer treatment option.

For more information, interested parties can contact Faron Pharmaceuticals or its investor contacts for further details.