Faron Pharmaceuticals Oy (DI) (FARN)

Sector:

Pharma and Biotech

Index:

FTSE AIM All-Share

142.50p
   
  • Change Today:
    -5.00p
  • 52 Week High: 350.00
  • 52 Week Low: 92.50
  • Currency: UK Pounds
  • Shares Issued: 104.62m
  • Volume: 6,706
  • Market Cap: £149.09m
  • Beta: 1.67

Faron Pharmaceuticals files new patent for Clever-1

By Josh White

Date: Monday 11 Nov 2024

LONDON (ShareCast) - (Sharecast News) - Faron Pharmaceuticals, a clinical-stage biopharmaceutical company specialising in immunotherapies for cancer and inflammatory diseases, announced the filing of a new patent application for the use of soluble Clever-1 in targeting T-cell inactivation on Monday, with potential applications in treating autoimmune diseases and inflammatory disorders.
The AIM-traded firm said the patent submission was based on recent findings that soluble Clever-1, secreted by Clever-1-positive macrophages and endothelial cells, bound to activated T-cells, thus impairing their differentiation into anti-tumor effectors and impacting the efficacy of anti-PD-1 therapies in cancer.

It said its research had identified the specific segment of Clever-1 responsible for the T-cell inactivation, with the patent application covering the use of soluble Clever-1 or its fragments in therapies for autoimmune and inflammatory conditions.

Faron said its next steps included designing an optimal drug composition targeting the mechanism, signalling an expansion of its pipeline beyond oncology to encompass autoimmune disease treatment.

Further details on the new direction would be provided as development progressed.

"Clever-1 is a master regulator of the immune system," said chief scientific officer Dr Maija Hollmén.

"Through decades of pivotal research and our deep understanding of Clever-1 and its role in human biology we have now shown how it inactivates T-cells, drives immune tolerance, and may render anti-PD-1 based immune checkpoint therapies ineffective."

Dr Hollmén said that in addition, the company now had an understanding on how it could use that to its advantage in the treatment of unwanted inflammation where T-cells needed to be inactivated.

"This lays the basis for a new class of drugs to treat autoinflammatory diseases."

At 1218 GMT, shares in Faron Pharmaceuticals were up 11.48% at 170p.

Reporting by Josh White for Sharecast.com.

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FARN Market Data

Currency UK Pounds
Share Price 142.50p
Change Today -5.00p
% Change -3.39 %
52 Week High 350.00
52 Week Low 92.50
Volume 6,706
Shares Issued 104.62m
Market Cap £149.09m
Beta 1.67

FARN Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
Market averageMarket averageMarket averageMarket averageMarket average
48% below the sector average48% below the sector average48% below the sector average48% below the sector average48% below the sector average
Price Trend
Market averageMarket averageMarket averageMarket averageMarket average
51.02% below the sector average51.02% below the sector average51.02% below the sector average51.02% below the sector average51.02% below the sector average
Income Not Available
Growth Not Available

What The Brokers Say

Strong Buy 1
Buy 1
Neutral 0
Sell 0
Strong Sell 1
Total 3
neutral
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FARN Dividends

No dividends found

Trades for 21-Nov-2024

Time Volume / Share Price
16:04 1,000 @ 143.50p
15:48 130 @ 140.00p
15:39 340 @ 143.50p
15:38 688 @ 143.50p
15:26 1,550 @ 144.50p

FARN Key Personnel

CFO Yrjö E K Wichmann
CEO Juho Jalkanen
Chair Tuomo Pätsi

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