By: Maria Williams
Innovation is one of the most crucial components in biopharmaceutical research, which involves using biologically derived compounds to create treatments. Advances in biotechnology have allowed a great deal of new research to be conducted in this field, and many scientists are pursuing various treatments for major diseases using innovative applications.
As CEO of Faron Pharmaceuticals, a clinical-stage biopharma company based in Finland, Juho Jalkanen, MD, PhD, has gained recognition in the industry for his relentless pursuit of innovation. Having been appointed CEO just roughly four months ago, Dr. Juho has already accomplished several significant milestones. These include raising $35.5 million in funding to complete Phase 2 of its clinical trials for its experimental bexmarilimab (bex) treatment. Bex is a humanized monoclonal antibody molecule currently being studied for its potential to assist the body’s immune system in targeting and potentially destroying treatment-resistant cancer cells by binding to Clever-1, an immunosuppressive scavenger receptor that has been associated with tumor growth and metastasis formation.
Under Dr. Juho’s term as CEO, Faron also received regulatory feedback for the bex trials and fast-track designation.
A family-based company, Faron was established in 2007 by Dr. Juho’s parents, Drs. Markku and Sirpa Jalkanen. Dr. Sirpa is a professor of immunology who discovered the bex molecule, while Dr. Markku was the first CEO of the company. According to Dr. Juho, his parents were dedicated scientists and researchers, and he wanted to do something else with his life, so he decided to study business. However, he soon realized that business was not for him and decided to study medicine. After gaining his medical degree, he became a general practitioner and later a vascular surgeon.
“I have always been fascinated with science and nature, and what attracted me to med school was the science and research,” Dr. Juho says. “I became interested in the psychological aspect of diseases and wellbeing, so I pursued general practice to be able to talk to people. I also love to do stuff with my hands, and I’ve always wanted to deal with serious matters in medicine, which led me to specialize and become a vascular surgeon.”
Despite enjoying his work as a surgeon, Dr. Juho knew that the time would come when he would be called on to take over the company. As a surgeon, he can help one patient at a time. By developing an innovative cancer treatment, he could help thousands and even millions of people.
Dr. Juho joined Faron initially in a business development role, where he utilized his business degree to build relationships with various entities in different industries. His goal was to help Faron grow and gain regulatory approval for its treatments, as well as distribute the treatments to benefit patients from all over the world. In April 2024, with Dr. Markku announcing his retirement, Dr. Juho was named the new CEO of Faron Pharmaceuticals, and he made sure to hit the ground running.
According to Dr. Juho, one of the biggest challenges in funding clinical trials and securing distribution agreements is that the industry can be quite risk-averse. While this is understandable due to the business and financial sides of things, Dr. Juho believes there needs to be a greater focus on innovation in the industry. This is the only way that new treatments can be discovered, alleviating the suffering experienced by patients, especially for severe diseases such as cancer.
“We scientists and doctors in the biotechnology field can be somewhat nutty,” he says. “We like to explore and take risks because risks are what drive innovation. However, scientists can only keep these projects alive for so long or take them so far because late-stage clinical trials and commercial development cost a fortune.”
Dr. Juho says that the industry has improved, with some large companies establishing innovation hubs and working with academia, startups, and clinical-stage biopharmaceutical companies such as Faron. He wants to see more of these innovation hubs in the industry and for companies to be less risk-averse so executives won’t feel that their careers are at stake if one of the trials they greenlighted doesn’t produce the expected results.
Dr. Juho reveals that one of his inspirations is the titular main character of his favorite movie, Forrest Gump. Despite his limitations, Forrest disregarded the naysayers and kept on pushing forward.
“So many people are held back by self-imposed limits,” he says. “Forrest achieved so much because he set no boundaries for himself and he didn’t overcomplicate things. He just kept on going and did stuff. That’s what I love about that movie, and I hope to help challenge the spirit that is keeping mankind back, stifling innovation, and preventing us from moving forward.”
Having raised a significant amount for the bex trial, Dr. Juho says that Faron will continue pressing hard to bring the novel treatment to market.
“We aim to have the enrollment for Phase 2 completed by the end of the year and then start Phase 3 in the second half of next year,” Dr. Juho says. “The great thing is that we already have FDA feedback, and it’s positive. The remaining bit is to close a partnering deal, which is our main objective from here on. I believe that the quicker we get to market, the better. In the past, we did things little by little, raising around $10 million to $15 million each round, which takes us a little further each time. But now, we really need to step on it and get this done fast for patients.”
Published by: Khy Talara
