Faron Pharmaceuticals CEO says €30.7 million fundraise was an 'amazing achievement'

Faron Pharmaceuticals CEO Dr Juho Jalkanen discusses the company’s successful €30.7 million fundraise, which was oversubscribed, demonstrating strong investor confidence in the company's lead asset, the cancer candidate bexmarilimab.

Jalkanen said the fundraise, one of the biggest out of the Nordics, was " an amazing achievement" under current market conditions.

The lead asset is transitioning from early-stage to late-stage development, with positive phase II results showing an 80% response rate in relapsed refractory MDS, a condition with no current treatment options. These results catalysed the fundraise and validated the initial phase I outcomes.

Jalkanen said the funds will support the full phase II study and facilitate FDA feedback for approval.
Interactions with the FDA have been positive, and the company is now seeking clear instructions on the next steps required for approval after phase II. Future M&A possibilities are also being considered as the drug shows more promise, with numerous ongoing partner discussions.

"We'll have the next data cut ready for the ASH conference towards the end of the year, with the trial expected to complete by year-end and final readouts in Q1 next year," Jalkanen added.

Faron Pharmaceuticals has a strong outlook with upcoming regulatory designations, further FDA feedback, and additional data releases anticipated.

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