Shareholders’ Nomination Board updates its recommendation on the number of Board members to be elected and the persons proposed to be elected

Shareholders’ Nomination Board updates its recommendation on the number of Board members to be elected and the persons proposed to be elected

TURKU, FINLAND - Faron Pharmaceuticals Ltd. (AIM: FARN, First North: FARON), a clinical-stage biopharmaceutical company focused on tackling cancers via novel immunotherapies, today announces that Shareholders’ Nomination Board updates its recommendation on number of Board members to be elected and the persons proposed to be elected

Previously the Shareholders’ Nomination Board proposed to the Annual General Meeting, that John Poulos, Markku Jalkanen, Tuomo Pätsi, Christine Roth and Marie-Louise Fjällskog be re-elected, and that Juho Jalkanen be elected as a new member to the Board for a term that ends at the end of the next AGM. All proposed Board member candidates have given their consent for the election. The proposed Board members have informed the Company that in the event they are elected, they intend to elect Tuomo Pätsi as chair of the Board.

The Shareholders’ Nomination Board updates its recommendation and proposes that Colin Bond also be elected as a new member to the Board for a term that ends at end of the next AGM. Otherwise, the Nomination Board's proposals remain unchanged. Colin Bond has given his consent for the election.

Colin Bond has a wealth of international experience in the CDMO and biopharma industries and was most recently Chief Financial Officer of Sandoz listed on the SIX Swiss Exchange, where he played a key role in the company's successful spin-off from Novartis. Prior to Sandoz, Mr. Bond was Chief Financial Officer of Vifor Pharma and Evotec. He also served as Chair of the Audit Committee for Siegfried AG, a leading CDMO quoted on the SIX Swiss Exchange, for ten years until May 2023. He is currently a director of Oxford Biomedica PLC, Chair of the Audit Committee of BioPharma Credit PLC and a member of the Supervisory Board of Formycon AG.

Information on the Board member candidates are available on the Company’s website at https://faron.com

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