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Faron Pharmaceuticals’ new CEO Dr Juho Jalkanen sets bold vision for 2024

–News Direct–

Faron Pharmaceuticals Limited (AIM:FARN) new CEO Dr Juho Jalkanen joined Proactive's Stephen Gunnion with his vision for the company.

The founding member and former chief operating officer of Faron said one of his priorities is to meet with the US Food & Drug Administration earlier than planned in the hope of fast-tracking its lead drug, bexmarilimab, which has shown huge promise in treating a type of rare blood cancer.

The move follows promising data from the phase I trials involving patients with myelodysplastic syndrome (MDS) who were unresponsive to a class of drugs called hypomethylating agents (HMAs).

Jalkanen highlighted the company's ongoing phase 2 trial targeting relapsed refractory MDS, emphasising the strategic goal of securing non-dilutive funding and considering future mergers and acquisitions as the drug shows promise.

Jalkanen also discussed the potential of the lead drug candidate in treating specific macrophage-driven cancers, indicating an optimistic outlook for the near term, including significant milestones expected in 2024. These milestones include more phase 2 data, expected by late May, and subsequent FDA feedback, pivotal for future planning.

The CEO expressed confidence in the company's position and its appeal to investors, especially given the biotech sector's recovery from a period he referred to as a "nuclear winter."