Faron Pharmaceuticals taps Juho Jalkanen for CEO

Biopharmaceutical company Faron Pharmaceuticals named Dr Juho Jalkanen as its next chief executive officer on Monday.

Jalkanen, currently the group's chief operating officer, will take over from Dr Markku Jalkanen, who turns 70 later in 2024, with effect from 1 May.

"I am very happy that the AGM approved the proposals by the board of directors, creating an opportunity for the company to continue efforts on fundraising for a longer-term solution. I have worked for the company since its inception in 2006 and feel that now is the right time for me to retire as CEO of the company and leave the operative helm," said Dr Markku Jalkanen.

"The board and I have a plan for a seamless CEO transition and now is the time to make that move. I will continue to give my support to the company and the new CEO in my continuing role as board member. I also strongly believe in the promise of bexmarilimab to provide a new safe and effective cancer treatment option for a vast patient group, either as a stand-alone or combination therapy."

As of 0915 BST, Faron shares were up 1.47% at 134.45p.

Reporting by Iain Gilbert at Sharecast.com