LONDON (Alliance News) - Sareum Holdings PLC on Monday said that Sierra Oncology reported positive preliminary clinical data from two in-human studies of SRA737.
Shares in the drug development company were trading 16% higher at 0.69 pence each.
Sierra is the licence holder of Sareum's leading clinical-stage programme, SRA737, targeting ovarian and other advanced cancers.
Sareum said that the studies results showed that anti-cancer activity was demonstrated "across multiple indications and genetic contexts", with the treatment achieving a "notable" 30% response rate in anogenital cancer patients.
Tim Mitchell, chief executive officer of Sareum Holdings, said: "We are extremely encouraged by the preliminary clinical data that Sierra announced from its clinical programme with SRA737 over the weekend.
"The results demonstrate the exciting potential of SRA737 in patients whose cancer type and genetic profile may confer and enhance sensitivity to this novel drug candidate, and open pathways for its advancement into the next stages of development towards registration."