Press release

Faron Pharmaceuticals Oy in £10m placing

Panmure Gordon raises £10 million for Faron Pharmaceuticals Oy.

Faron has raised £10 million through a placing with existing and new institutional investors at a placing price of 800 pence per share. The placing will be used to fund Faron’s commercialisation preparations for its lead development product, Traumakine, which is due to conclude its Phase III trial in Q4 2017, and the expedited expansion of the clinical development program for its second product, Clevegen.

Panmure Gordon acted as sole Bookrunner and Broker to the Company, following successful placings of £8 million at 250 pence and £5 million at 350 pence in September 2016 and in March 2017 respectively.

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