Faron Pharmaceuticals Ltd

("Faron" or the "Company")

Grant of options

Company announcement, December 4, 2023 at 9 am (EET) / 7 am (GMT)

TURKU, FINLAND / BOSTON, MA - Faron Pharmaceuticals Ltd (AIM: FARN, First North: FARON), a clinical stage biopharmaceutical company focused on building the future of immunotherapy by harnessing the power of the immune system to tackle cancer and inflammation, today announces that the Company's board has confirmed the grant of a total of 34,000 options over ordinary shares in the Company ("Options") under the Company's Share Option Plan 2019 (including its UK and US sub plans). The Options have been allocated under the Share Option Plan 2019 and are exercisable between9 November 2024 and 9 November 2028, vesting 25% per annum over four years. The exercise price for Options allocated under the Share Option plan is €3,53 per share, which is calculated based on the average price per share at which the ordinary shares in the Company have been traded on AIM for 90 days preceding the allocation date of 9 November 2023. The exercise price for Options allocated under the US sub plan is €3,35 per share, which is calculated based on the average price per share at which the ordinary shares in the Company have been traded on AIM for 30 days preceding the allocation date of 9 November 2023. The terms of the Share Option Plan 2019 are available on the Company's website at https://www.faron.com/investors/general-meetings/2020.

The granted 34,000 Options entitle the option holders to subscribe for a total of 34,000 new ordinary shares in the Company, if exercised in full, and represent 0,05% of the fully diluted ordinary share capital of the Company.

Included in the number of Options granted are the following Options which were issued to directors, other persons discharging managerial responsibilities ("PDMRs"), scientific advisory board ("SAB") members and Company personnel:

Director Options granted

Christine Roth30,000

[page1image35127504]

Total directors 30,000

Total Company personnel  4,000

[page1image35133536]

For more information please contact:

Investor Contact

LifeSci Advisors 

Daniel Ferry 

Managing Director 

daniel@lifesciadvisors.com (daniel@lifesciadvisors.com%22%20\t%20%22_blank) 

+1 (617) 430-7576 

Cairn Financial Advisers LLP, Nomad

Sandy Jamieson, Jo Turner

Phone: +44 (0) 207 213 0880

Peel Hunt LLP, Broker

Christopher Golden, James Steel

Phone: +44 (0) 20 7418 8900

Sisu Partners Oy, Certified Adviser on Nasdaq First North

Juha Karttunen

Phone: +358 (0)40 555 4727

Jukka Järvelä

Phone: +358 (0)50 553 8990

About Faron Pharmaceuticals Ltd. 

Faron (AIM: FARN, First North: FARON) is a global, clinical-stage biopharmaceutical company, focused on tackling cancers via novel immunotherapies. Its mission is 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's lead asset is bexmarilimab, a novel anti-Clever-1 humanized antibody, with the potential to remove immunosuppression of cancers through targeting myeloid cell function. 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. Further information is available at www.faron.com (https://eur01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.faron.com%2F&data=05%7C01%7C%7Ca4ae0afa96854c5c5f2a08db771ae20d%7Ca2d9b7a432f64a96b03727499230d5fd%7C1%7C0%7C638234729855975666%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=%2FNadoN9wXIGZtfCkFVuLSTXPpNg3%2BBXoRfIQaIPce6k%3D&reserved=0).

Notification
of a
Transaction
pursuant to
Article
19(1) of
Regulation
(EU) No.
596/2014
1 Details of the person
discharging managerial
responsibilities/person
closely associated
a. Name Christine Roth
2 Reason for notification
a. Position/Status Person discharging
managerial
responsibilities/pers
on closely
associated
b. Initial notification/ Initial notification

Amendment
3 Details of the issuer,
emission allowance market
participant, auction
platform, auctioneer or
auction monitor
a. Name Faron
Pharmaceuticals Oy
b. LEI 7437009H31TO1DC0EB42
4 Details of the
transaction(s): section to be
repeated for (i) each type of
instrument; (ii) each type of
transaction; (iii) each date;
and (iv) each place where
transactions have been
conducted
a. Description of the financial Options over
instrument, type of ordinary shares
instrument ISIN: FI4000153309
Identification Code
b. Nature of the transaction Grant of options
made under the Faron
Share Option Plan
2019 US sub plans
exercisable at€3.35
per ordinary share.
c. Price(s) and volume(s)
Price(s) Volume(s)
Nil
30,000

d. Aggregated information 30,000

- Aggregated Volume Nil

- Price
e. Date of the transaction 1 December 2023
f. Place of the transaction Turku