Company
LON:FARN
Faron Pharmaceuticals is a global, clinical-stage biopharmaceutical company, focused on creating innovative cancer treatments that leverage the patient’s own immune system. The company’s lead asset bexmarilimab is currently being investigated in Phase I/II clinical trial as a potential therapy for patients with hematological cancers in combination with other standard treatments.
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The company noted that pre-clinical studies with humanized AOC3 mice and with ex vivo human cells in relation to the invention are currently ongoing and further information will be provided later in the year
In an interview with Proactive, Dr Markku Jalkanen indicated that the firm had “an understanding that we have third-party financing for the trial”
Following a meeting with the Food & Drug Administration, the company’s treatment of patients with its interferon-beta (IFN-beta) medication Traumakine will exclude the overlapping use of steroids
Clevegen has been designed to target a range of solid tumours and people with colorectal cancer have previously received it
Patients with late-stage colorectal cancer will be offered Faron drug Clevegen
“Faron considers Rentschler to have otherwise breached the agreement,” the company said in a statement.
According to chief executive Dr Markku Jalkanen, the Faron treatment could finally offer “a biological rationale to guide combination therapies"
The Food & Drug Administration has paved the way for a phase I/II study of the company's Clevegen drug Stateside
This provides investors in the company’s native Finland, many of whom backed the last fundraiser, to trade shares on a local exchange
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The £7.48mln raised will be used to initiate part-two of the phase I/II MATINS trial of the Clevegen in colorectal cancer
The biotech saw its shares jump 14.9% to 205p in mid-afternoon trading on Friday
The biopharma firm said its Clevegen treatment could potentially induce a "stronger immune response" at lower doses, increasing its safety margins
The manufacturing process for its lead drug candidate requires "significant" upgrade to receive approval by the authorities
Clevegen is one of two drug candidates being developed by Faron. The other is Traumakine for a condition called acute respiratory distress
Clevegen is precision cancer immunotherapy and information from the MATINS trial will be showcased at the European Society of Medical Oncology Congress, in Barcelona from September 27
The cash injection will provide the group with working capital out to the first quarter of next year
The cash will allow the company to continue clinical development of its lead cancer drug and provide working capital while a partner is sought
The group plans a subscription and open offer of new stock
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