Sareum positive on SRA737 outlook after Sierra call

(Sharecast News) - Specialist drug development company Sareum noted on Friday that Sierra Oncology, the licence holder for the novel Chk1 inhibitor 'SRA737', had discussed its newly-announced global in-licensing agreement with AstraZeneca for AZD5153 with investors, which is a novel BRD4 BET inhibitor, to expand its myelofibrosis pipeline.
The AIM-traded firm said SRA737 was discovered and initially developed by scientists at the Institute of Cancer Research in collaboration with Sareum, and with funding from Sareum and Cancer Research UK.

It was licensed to Sierra in September 2016.

In discussing the rationale for adding AZD5153 to its pipeline, Sierra referred to possible pipeline expansion opportunities in other haematologic or solid tumour indications, through potential combinations with SRA737, immune-oncology agents, PARP inhibitors and drugs with other mechanisms of action.

Sierra also noted that AZD5153 had shown preclinical efficacy in combination with a diverse range of agents, and that synergy between AZD5153 and a family of DNA damage response agents, known as ATR inhibitors, suggested potential utility in combination with SRA737.

In its 10-K filing, published yesterday, Sierra reiterated that it was focusing its resources on the development of momelotinib and exploring options to potentially support the continued development of SRA737.

"It is encouraging to note from Sierra's investor call that, while it has made no commitment towards the further development of SRA737, it sees further potential opportunities for this novel agent following the addition of AZD5153 into its pipeline," said chief executive officer Dr Tim Mitchell.

"We remain optimistic that Sierra will find a solution to advance development of the SRA737 programme in the future."

At 1441 BST, shares in Sareum Holdings were down 1.28% at 8.84p.