Finnish biopharma company Faron Pharmaceuticals Oy has announced its successful £10 million placing and admission to trading on the AIM market of the London Stock Exchange.
Faron is a drug discovery and development company that currently has a pipeline of clinical stage products focusing on acute organ traumas, cancer immunotherapy and vascular damage.
The company’s lead candidate is FP-1201-lyo (branded Traumakine®), a patent protected use of interferon beta which has been developed to treat acute respiratory distress syndrome (ARDS). The company has appointed a CRO in respect to the pan-European Phase III trial with first treatment expected to occur during Q4 of 2015.
Leading national audit, tax and advisory firm Crowe Clark Whitehill acted as reporting accountants to the transaction, with our capital markets team led by Stephen Bullock.
— Yrjö Wichmann, CFO, Faron
— Stephen Bullock, Corporate Finance Partner, Crowe Clark Whitehill