Business
Annual Results for the year ended 31 December 2015
Annual Results for the year ended 31 December 2015.
About this update from Faron Pharmaceuticals Oy
[{"type":"text","content":"\n \nRNS Number : 6206R Faron Pharmaceuticals Oy 10 March 2016 \n\nFaron Pharmaceuticals Ltd\n(\"Faron\" or the \"Company\")\n \nAnnual Results for the year ended 31 December 2015\n \nTURKU - FINLAND, 10 March 2016 - Faron Pharmaceuticals Ltd (\"Faron\") (LON: FARN), a drug discovery and development company, today announces its Annual Results for the year ended 31 December 2015. The Annual Report 2015 and accounts are available on the Company's website and will be posted to Shareholders in due course.\n \nKEY HIGHLIGHTS\n \nOperational Highlights\nTraumakine®\n\n\n\n\n· Established the pivotal pan-European Phase III INTEREST trial for Traumakine, which is in development for the treatment of Acute Respiratory Distress Syndrome (\"ARDS\"). This includes 55 hospitals with significant intensive care units in seven European countries (UK, France, Germany, Spain, Italy, Belgium and Finland).\n\n\n\n\n· First Patient recruited in Phase III INTEREST trial in December 2015.\n\n\n\n\n· Entered into agreements with A&B (HK) Company Limited and CMS Pharma Co. Ltd in mainland China, Hong Kong, Macau and Taiwan (the \"Greater China Area\") to license Traumakine in May 2015.\n\n\n\n\n· Reported second contract period on the EU FP7 grant programme for Traumakine ending 30 November 2015, triggering next period payment.\n\n\n\n\n \nClevegen®\n\n\n\n\n· Entered into a collaboration agreement with the Turku PET Centre, one of the largest positron emission tomography centres in Europe, on the development of novel cancer immunotherapy Clevegen in June 2015.\n\n\n\n\n· Agreement with Swiss-based Selexis SA for SUREtechnology Platform™ and SURE CHO-M Cell Line™ for use in the development and production of Clevegen in November 2015.\n\n\n\n\n· Key Publication on Novel Cancer Immunotherapy Mechanism Related to Clevegen published in Journal of Immunology in November 2015.\n\n\n\n\n· Granted €1.5 million in funding by Tekes, the Finnish Funding Agency for Innovation, to progress the preclinical development of Clevegen in December 2015.\n\n\n\n\n \nFinancial Highlights\n\n\n\n\n·&nb...