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Spot on with that one PSC1954
May be wrong but my understanding is we are "piggy backed" on the back of the CRT deal, hence, agreeing to the renegotiated terms.
If as people state we are in the hands of GSK/Sierra that is same for CRT and they done the deal not TM and JR, we were locked in as co-developers on the back of their financial support.
So yes we are in the hands of the new owner and it will be their call, but, disagree that TM and JR are to blame as they needed the funds to get to where we are - hopefully, the science will prove to be more rewarding than worrying whether TM and JR should be two "wide boys" selling for Trotters Independent Traders.
Going forward, if the above has been a mistake, hopefully TM, JR, SP et all would have learnt with regards to any future deals regarding the Sareum IP/Pipeline which has been laid out to date by way of RNS.
Yes, I would have liked to have seen a more positive sp result by now, however, a lot is happening in the world but going by the info to date and the great researchers on this bb who I for one owe great thanks, I believe we are still in the mix!
Enjoy your Summer!
GLA
Whilst it would be great to hear something later this month, I’m deliberately keeping my expectations low. If we hear something in the October GSK quarterly update, I’ll be delighted.
And, I agree with you , Potnak. It’s wasted energy at this stage going back over and over how things have played out with the CPF and Sierra. Things are where they are and focusing on GSK and how they operate is what matters now.
Bill.
Thanks for clarifying, Billy. We should get something then.
Not quite right. GSK have to give the CPF an update within July/August. And, GSK will issue their next quarterly report at the end of July (this month) and update their pipeline at the same time.
Bill
We will never know and have nowhere to go to ask. As Billy says. GSK will give a scheduled pipeline update in July\Aug. SAR737 is part of the pipeline (we hope) so we might get something in that.
Spot on Potnak but Sareum, having blown our cash on 737 development, then stood by and watched CRT negotiate a deal with Sierra that effectively froze us out !! Or didn't it happen like that? Great negotiators these scientists?
My assertion is that there are a lot of new investors here and some medium-term investors who think we had a licence deal with Sierra, we don't. Our 'deal' was with the CRT and was a financial and development partnership. CRT then licenced the compound to Sierra. The terms of our deal will not figure in the terms of the licence deal with Sierra (now GSK). they are two separate deals. It isn't worth spending any time thinking about. We are at the mercy of GSK, just like were with Sierra.
Potnak, I was merely questioning your assertion that you felt "there are some here who still don't understand what involvement Sareum had in developing SRA737", as if it was of no consequence. On the contrary, Sareum was at the forefront of said development, which makes my view that we should not underestimate Sareum's contribution valid, nonetheless.
GF - Tim has stated on numerous occasions that they get the update at the same time as the market. It doesn't matter what we think should happen. Tim has told us what does happen.
I guess when this happens then we will get the nod to release an RNS? It's kind of like how we used to browse through Sierra's 10k filing to see if they had made a commitment to 737. It's not great but it is what it is. A weird situation where I don't think 737 is priced into the SP if good news but we would definitely take a hit on bad news.
Potnak, I feel you're underselling Sareum's involvement here. This from 2016: "PNT737 [which ultimately became known as SRA737] was originally developed in a research collaboration between the Institute of Cancer Research, London (ICR), Sareum Limited and Cancer Research Technology Ltd (CRT). The Programme was licensed to the CRT Pioneer Fund in September 2013 and a co-investment partnership with Sareum was formed to progress the candidate drug through clinical trials." Importantly, "Dr Tim Mitchell, CEO of Sareum commented: 'This is a major achievement for our lead candidate as well as for Sareum. Starting with the initial discovery, we have contributed financially and scientifically to the ongoing development of the programme into clinical trials. The returns from this research investment will be realised in this licence agreement, validating our strategy and business model. ProNAi is in a strong position to further the development of PNT737 and plans to expand its development into the United States and with broader clinical studies. We look forward to reporting on their progress.'" So, given this, I feel your comment, "there are some here who still don't understand what involvement Sareum had in developing SRA737", greatly underestimates Sareum's initial contribution here. Just my opinion.
Under the terms of the deal, the CPF will be due an update from GSK during the period July/August this year. Then again in January/February next year.
Hi Krone. Apologies, My comment wasn't aimed at you but there are defo some here who don't understand. We will probably never know what is in our contract with the ICR. I guess it will be something along the lines of any other technical resource you buy-in. ICR will own the rights and the IP, If they decided to sell. I don't think we would even get a say. It is what it is and we will just have to wait.
Thanks Potnak, yes, fully understand the situation but frankly find it wholly implausible that a significant stakeholder namely Sareum has no contractual leverage whatsoever. There will have been an agreement between Sareum and CRT in respect of the initial development of SRA737.
Perhaps the main takeaway from the Sierra debacle is for shareholders to be absolutely and categorically assured that any future agreements protect the interests of Sareum shareholders. I think I’ve banged on about this before….just killing time!
There was lots of focus on Sierra for not developing 737 but CRT and Sixth Element brokered the deal. They will have the answers and will possibly know what GSK plan to do with the compound. I feel there are some here who still don't understand what involvement Sareum had in developing SRA737. We are a bystander with a financial interest in the compound, that's it. The Sareum board will have to wait for RNS, just like we do.
“Sixth Element Capital is currently managing the £70m CRT Pioneer Fund (CPF) to create the future of cancer therapy and diagnosis. CPF invests in oncology focused assets and companies. CPF’s investors are the European Investment Fund and Syncona.”
As the deal broker for the original Pronai/CRT agreement it is perhaps surprising that there has been no update since 12 January 2017.
https://www.sixthelementcapital.com/wp-content/uploads/2021/08/Transfer-of-Sponsorship-of-SRA737.pdf