Faron Pharmaceuticals (FARN) investor relations material

Scientific and clinical rationale

• Targeting CLEC-1 on tumor-associated macrophages addresses a key mechanism of cancer treatment resistance, as these cells support 13 of 14 cancer hallmarks and enable immune evasion.

• Bexmarilimab (Bex), an antibody against CLEC-1, reprograms immunosuppressive monocytes/macrophages to immune-activating cells, enhancing T-cell response against cancer.

• In myeloid malignancies like high-risk MDS, CLEC-1 is highly expressed, making it an optimal target for Bex, which sensitizes malignant cells to standard treatments.

• Bexmarilimab’s mechanism is supported by both preclinical models and patient-derived samples, reinforcing confidence in its biological rationale.

Clinical progress and results

• Phase IIa BEXMAB trial in high-risk MDS showed a 45% complete remission (CR) rate with Bex+azacitidine, more than doubling the standard azacitidine CR rate (16-18%).

• Duration of CR in the frontline setting reached 12 months, a strong result for this aggressive cancer.

• In relapsed/refractory MDS, overall survival with Bex+aza was 14.5 months, compared to 5-6 months for salvage therapy.

• Safety profile of Bex+aza is favorable, with reduced neutropenia, transfusion needs, and fewer dose reductions compared to azacitidine alone.

Overview of the rights offering

• Launch of a rights offering to raise approximately EUR 40.1 million at a subscription price of EUR 0.50 per share, representing a 7.5% discount to the theoretical ex-rights price.

• Up to 80,158,126 new shares offered, with commitments already received for EUR 11.8 million and guarantees for up to EUR 28.3 million.

• Each existing share entitles to one subscription right; 13 rights allow subscription for 9 new shares.

• Offer shares would represent about 67.1% of existing shares if fully subscribed.

• Key dates include subscription period from 17 March to 2 April 2026, with trading in new shares expected to begin around 15 April 2026.