Faron Pharmaceuticals raises over EUR 11M
Finnish clinical stage biopharmaceutical company Faron Pharmaceuticals has raised approximately 11.3 million euros in funding by Placing and Subscription of its shares.
Faron Pharmaceuticals successfully reached its target of 10 million pounds before expenses by placing a total of 1 250 000 shares at 800 pence per share.
The shares were registered with the Finnish trade register by 11 October, and trading of the shares on the AIM at the London Stock Exchange is expected to commence by 8am on 13 October at the latest.
The funding will go towards early preparation to commercialise Faron’s Traumakinen drug and further development of its immuno-oncology drug Clevegen.
Since Faron was listed on the London Stock Exchange in November 2015, it has raised approximately 40 million euros in funding in four separate rounds.