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Nothing is priced into the SP for SRA737 or Aurora + FLT3 both are out of our bods control and we will only hear news when its time and this can drop anytime, frustrating for some but focus should be on the main prize ;)
As for our TYK2’s you never know we may get a nice preclinical progress and MTD update next week //// GLA
Well I mailed Mr Parker and he has replied saying the agreement is nothing to do with Sareum or the ICR. It is between the CPF and Sierra and they can only release info as and when it gets released. To be honest total disregard of any shareholder interest in SRA 737 he did thank me for supporting Sareum though.
SRA737, I emailed ICR and received the following reply on the 26/08/2020.
If the trials were still ongoing on this date should we be expecting any news at this time other than a possible update telling us what if anything has transpired since then.
Dear John,
Thank you for getting in touch, and apologies for the delayed reply to your email. The only information I have to go on is that from the ClinicalTrials.gov entry of the trial I think you’re referring to: https://clinicaltrials.gov/ct2/show/NCT02797977 This states that the trial is no longer recruiting new patients, but that it is still active – which often means participants are still in active follow-up and the scientists are still analysing the data.
We’ve got a few news stories about pre-clinical and early clinical studies of SRA737 that you might find interesting, which you can find here:
- https://www.icr.ac.uk/news-archive/two-pronged-attack-on-dna-repair-could-kill-drug-resistant-cancers
- https://www.icr.ac.uk/news-archive/asco-2019-drug-targeting-dna-damage-response-shows-promise-against-cancers-of-anus-and-genitals
Sorry I couldn’t give you any more detailed information, but I hope that’s somewhat helpful.
Best wishes
Senior Medical Officer
You are quite right. During any due diligence SAR would need to provide the buyer with indemnification provisions in relation to 737 if this was still in Sierra’s (or Another’s) hands. This would cover any liabilities discovered after signing the acquisition agreement. My background is in M&A so it is not un-heard of for a party to buy a business with a question mark hanging over part of its business but the buyer would need indemnifying. It could well be that 737 is now a small part of the bigger picture these days. Therefore it might not be a big problem to a company who is keen to acquire Sareum but you are quite right to raise it. It is a stumbling block we could certainly do without. i.e. it would be better to be resolved ASAP. Good luck, Brighty
It's very simple, Potnak: A drug that significantly increases the probability of survival is being held back. If the ICR were so hot on their deal making we wouldn't be in this position would we? I'm relatively chilled about the pipeline of news re China, TYK, Covid grant etc but SRA737 is one heck of a mess currently for Sareum and its shareholders. It is holding us back. Surely you realise that it is also a huge negative from a possible take over (who would buy us with this un-resolved?)
I am with you 100% on that one Potnak. There is nothing anyone can say until it happens.
Are you trying to say the ICR don't know what they are doing? They are the experts in forging deals. I suggest you email ICR and tell them your plan.
f*** me this is so draining. You lot are annoyed that Sierra didn't mention SRA737 when there was no official news released saying they would. It like saying I'm gonna wear short's tomorrow, it's July, it should be hot and then moaning that you are p*ssed wet through because it's raining.
For me, It was pretty obvious that SRA737 wouldn't be in yesterdays presentation because we haven't had any official news to say anything otherwise. If it is obvious to me, why not to others?
A number of NCYT posters did something similar with Robert Peston at ITV News I seem to recall at the start of the year when Covid was kicking off. They had some success and followed it up with SKY, the Mail etc ending up with headline news and the share price soared . It's a tricky one as NCYT had a PR / Marketing / Comms person willing to speak on the record (and I would imagine off the record) with journalists. History would dictate that Sareum is more than likely not to do this. They haven't to date, so we would be reliant on the ICR to respond to media enquiries about SRA737 and its huge potential. I think it is incumbent on the ICR and SAR to do this rather than individual investors for obvious reasons but who knows. I feel that TM will not speak to journalists about such matters and without a company source this and other brilliant news stories for Sareum will stall at the first hurdle. This is clearly a news event, most of us realise its significance, but sadly if Sar or the ICR do not use the media to raise this issue (if lobbying has failed) we are stuck in no mans land until Sierra play ball. I still feel that a company with deep pockets such as AZ, MSD, Pfizer, Bristol Myers Squibb etc could do the negotiations on behalf of the ICR to get this away from Sierra. It's certainly a strange world we live in when a drug that significantly increases the probability of survival is being held back. It disgusts me to be honest.
Basil
I suggested something similar a while ago, involving the press and/or social media but wasnt too sure how direct to come across at the time. The bottom line is, like you said, SRA737, a key drug, especially when used in combination that is currently extending the life of cancer patients. And no one knows at what stage it is, or even if its been tucked away in the bottom of Glover's old filing cabinet at SRRA.
It could be being used, or at least progressed, to save or extend life. Its as simple as that.
Ive often wondered how long it would take for a few select words (#Cancer #SierraOncology #Survival #ICR #CancerResearch) to be hashtagged on Twitter and the likes for news to spread of a potential 'wonder drug' that doesn't seem to be being progressed (granted, it may well be behind closed doors), even though its had the likes of Triparna Sen and even Workman raving about it.
Yes,Bas, l would. Sierra have not been very forthcoming with updates. It is as if they want to put a low profile on it. SRA 737 was taken out the shop window around 3 months ago. Are they trying to raise funds to continue development themselves or have they found a company to license to. Negotiations for licensing highly unlikely to be completed within a 3 month period especially in the current climate. If they are in negotiations then we will never get to hear about until the deal is done. Regards
Sad, You would use your contacts book and open up a dialogue with the big pharmas about the combination therapy of CHK1i/SRA737 & BETi/OTX-015 which results in a statistically significant increase in the probability of survival. If it is as good as the data suggests a bigger pharma would handle the negotiations with or for the ICR to take it off Sierra. Maybe that's what's happening in the run up to the end of September. One thing is for sure, this cannot carry on like this.
If Sierra want to choose to be awkward then tell me please what exactly SAR or the ICR can do. The threat of legal action? In the U S of A with the current C 19 it would take months /years. Costs run into hundreds of thousands of dollars. I believe Sierra have until the end of September to 5h1 t or get off the bucket.
BasilAlderman - Chairman's email: sparker@sareum.co.uk
It's not acceptable to just say "we can't do anything about it, we are just a third party" when lives can be saved. The ******–Meier survival plot specified that the CHK1i/SRA737 & BETi/OTX-015 combination therapy resulted in a statistically significant increase in the probability of survival. Therefore our Chair has every right to bang down the door of the ICR as this should be put at the top of the ICR's list of priorities. If this really has the potential to save / prolong lives then this is what the ICR and SAR should be communicating. This is too big to play politics with. It is time for Mr Johnson of ICR and Mr Parker of Sareum to act. If lobbying doesn't work then they should use the media. e.g. a story about a company stalling on a cancer drug being developed by the UK's ICR at the height of the Covid pandemic would be very big news.. Daily Mail, The Times, Telegraph, Sky, BBC, ITV, etc would lap this up. Mr Johnson has a weekly column in The Sunday times for goodness sake! If he doesn't feel comfortable about personally writing about this he could tip off the editor of The Sunday Times. Churchill used to say "Action This Day" and this is the attitude we require in this instance.
The return of SRA737 to ICR/Sareum hinges on whether Sierra have used 'Commercially Reasonable Efforts' to progress 737 in a diligent and timely manner.
In terms of Commercially Reasonable Efforts the contract states 'with respect to ProNAi’s (Sierra's) efforts, the efforts and resources commonly used by a drug development company of similar size, remit and resources as ProNAi, for a product at a similar stage in its life cycle, with the objective of developing such product in a diligent and timely manner..' '
The contract further states: 'to use Commercially Reasonable Efforts to carry out the Clinical Development Plan, as amended from time to time, and use Commercially Reasonable Efforts to develop and commercialise in each of the Major Markets at least one (1) Licensed Product with an application in an Oncology Indication' https://www.sec.gov/Archives/edgar/data/1290149/000119312516765907/d255357dex101.htm
737 belongs to ICR. Sareum are entitled to 27% of milestone payments and Royalties and as such carry very little sway.
Surely now it must be time for the ICR and Sar to legally invoke the clause that permits them to take back SRA737? I can't believe that TM and SP aren't going to sit back and watch one of our main financial opportunities be thrown away in this manner. It must be time for Luke Johnson, Chair of ICR, and our Chair to take the lead and bring home SRA737. Alternatively they need to find a bigger pharma who will take this on from Sierra, such as Merck Sharp & Dohme, who have been looking at SRA737 as we know. It is time to apply the ultimate pressure and resolve this fiasco.