Faron Pharmaceuticals Ltd.

("Faron" or the "Company")

Managers' transactions

Company announcement, October 27, 2023 at 3:00 pm (EEST)

Inside Information

TURKU, Finland / BOSTON, Massachusetts - October 27 , 2023 - Faron Pharmaceuticals Ltd. (AIM: FARN, First North: FARON), a clinical-stage biopharmaceutical company pioneering macrophage reprogramming for effective anticancer immunotherapies, announces today that John Poulos, a Non-executive Director of the Company, on October 3, 2023 sold 5,000 ordinary shares in Faron at a price of €3.7209 per share, and on October 12, 2023, sold 5,000 ordinary shares in Faron at a price of €3.8259 per share. Following these disposals, John Poulos directly holds 10,000 ordinary shares in the Company, representing 0.02 per cent. of the Company's issued share capital.

The notification below, which has been made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.             

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 John Poulos
2 Reason for notification
a. Position/Status Non-executive
Director
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 Ordinary shares
instrument, type of ISIN: FI4000153309
instrument
Identification Code
b. Nature of the transaction 1)      Disposal of
ordinary shares
(October 3, 2023)

2)      Disposal of
ordinary shares
(October 12, 2023)
c. Price(s) and volume(s)
Price(s) Volume(s)
1)      1)      5,000
€3.7209
2)      5,000
2)     
€3.8259

d. Aggregated information 1)      5,000

- Aggregated Volume 2)      5,000

- Price 1)      €3.7209

2)      €3.8259
e. Date of the transaction 1)      October 3,
2023

2)      October 12,
2023
f. Place of the transaction Nasdaq First North
Growth Market

For more information please contact:

Investor Contact

LifeSci Advisors

Daniel Ferry

Managing Director

daniel@lifesciadvisors.com

+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).