Faron Pharmaceuticals Oy has announced the grant of 645,000 options over new ordinary shares in the company under the Share Option Plan 2019. These options are exercisable between June 25, 2025, and June 25, 2029, vesting 25% per annum over four years. The exercise price for the options corresponds to the subscription price of 1.00 per share for the UK and the company's public offering. Additionally, the company provided details of the options granted to directors, other persons discharging managerial responsibilities, scientific advisory board members, and company personnel.
The granted options entitle the holders to subscribe for a total of 645,000 new ordinary shares in the company, representing 0.61% of the fully diluted ordinary share capital. The company also provided contact information for further inquiries.
Faron Pharmaceuticals Oy also provided an update on the BEXMAB study, an open-label Phase I/II clinical trial investigating bexmarilimab in combination with standard of care in acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS). Bexmarilimab is the company'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. The study aims to determine the safety and tolerability of bexmarilimab in combination with standard of care treatment, with a focus on targeting Clever-1, a receptor associated with therapy resistance and poor outcomes in AML and MDS.
Faron Pharmaceuticals Oy is a global, clinical-stage biopharmaceutical company focused on tackling cancers via novel immunotherapies. Its lead asset, 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.