Faron Pharmaceuticals Ltd. has announced that Anne Whitaker, a non-executive board member, will be stepping down from the Board of Directors on September 22, 2023, due to her new executive role at another company. The change in the board will be subject to the proposed election of Dr. Marie-Louise Fjllskog and Christine Roth at the forthcoming Extraordinary General Meeting (EGM) and regulatory approval. The current Directors of the Company are Frank Armstrong (Chair), Marie-Louise Fjllskog, Markku Jalkanen, Erik Ostrowski, John Poulos, Tuomo Ptsi, and Christine Roth.

Faron Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing novel immunotherapies to tackle cancers. Their lead asset is bexmarilimab, an investigational immunotherapy designed to overcome resistance to existing treatments and optimize clinical outcomes. Bexmarilimab targets myeloid cell function and ignites the immune system by binding to Clever-1, an immunosuppressive receptor found on macrophages. By targeting this receptor, bexmarilimab alters the tumor microenvironment, reprogramming macrophages to an immunostimulatory state and sensitizing cancer cells to standard care.

Faron Pharmaceuticals aims 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 is currently investigating bexmarilimab in Phase I/II clinical trials as a potential therapy for patients with hematological cancers in combination with other standard treatments.

This announcement contains forward-looking statements, reflecting the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, and business prospects.