International law firm Bird & Bird is advising London-based investment bank, Peel Hunt LLP (as Joint Lead Manager and bookrunner alongside with Carnegie Investment Bank AB (Finland Branch)), on a secondary fundraising by Faron Pharmaceuticals Ltd (AIM: FARN, First North: FARON).
The fundraising, which was announced on 4 June 2024, is seeking to raise up to EUR 30.7 million in total by way of a public offering of shares in Finland, an institutional placing, an open offer to existing shareholders in the UK and a retail offer using Peel Hunt’s “REX” retail platform. It is expected that the transaction will close in late June.
Faron is a clinical-stage biopharmaceutical company focused on tackling cancers via novel immunotherapies. Its mission is to bring the promise of immuno-therapy to a broader population by uncovering novel ways to control and harness the power of the immune system.
London-based corporate partner, Simon Allport (assisted by associate Amy Donlevey) is advising on the UK aspects of the transaction, while Helsinki partner Laura Huomo (assisted by counsel Vuokko Rajamäki) is providing Finnish law advice, showcasing the strength of Bird & Bird’s international corporate team on multi-jurisdictional ECM transactions of this nature.
Commenting on the transaction, Simon said: “We are delighted to be advising Peel Hunt on Faron’s latest fundraising alongside our Finnish colleagues, as it looks to take the next step towards commercialisation of these important therapies.”
