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(Sharecast News) - Biotechnology developer Sareum announced on Monday that GSK subsidiary Sierra Oncology has returned clinical study reports and associated documents related to 'SRA737' to Sareum's co-development partner, the CRT Pioneer Fund.
The AIM-traded firm described SRA737 as an oral, selective checkpoint kinase-1 inhibitor, which was discovered and initially developed by scientists at the Institute of Cancer Research in collaboration with Sareum.
It said the drug was designed to target cancer cell replication and DNA damage repair mechanisms.
The rights to SRA737 were acquired by CPF in 2013, as part of a co-development agreement with Sareum.
Sierra Oncology then licensed the drug in September 2016, and progressed it through phase one and two clinical development.
At the 2019 ASCO annual meeting, Sierra reported positive preliminary efficacy and safety data from two clinical trials evaluating SRA737 as a monotherapy and in combination with chemotherapy.
However, since then, Sierra had not progressed the asset beyond the phase one and two clinical trials.
Following GSK's acquisition of Sierra in July last year, which was primarily for its momelotinib myelofibrosis asset, the rights to SRA737 were returned to CPF in January.
Sareum said it was now evaluating potential further development opportunities for SRA737 with CPF, and would provide further updates as appropriate.
Previously-reported preclinical data had indicated triple drug combinations involving SRA737 could show promise against hard-to-treat cancers.
"Our primary focus remains on developing innovative TYK2/JAK1 inhibitors focused on autoimmune disease, including our lead product SDC-1801," said chief executive officer Dr Tim Mitchell.
"We look forward to evaluating the potential development opportunities for SRA737 with CPF and will provide further updates in due course."
At 1529 GMT, shares in Sareum Holdings were down 0.68% at 101.8p.
Reporting by Josh White for Sharecast.com.
