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Potnak, could it be the data strongly indicates it will also be beneficial something else? Get confirmation on the tox and then commence p2 trials in tandem?

Only a guess, who knows.

MHRA has indicated that it seeks a review by the UK Good Laboratory Practice (GLP) Monitoring Authority, or further support, of the non-clinical data submitted as part of the application to approve the clinical study.

As it was non clinical, that seems highly unlikely

Hoping we will see an RNS prior with updates ref the plan going forward.

If as some suggest/believe the tox results are 12 months away, I find it hard to except the recent HNWI and other Institutions aren’t more informed than us PI’s. Considering the fiasco the company has experienced and the subsequent share price drop, I would think it’s unlikely an institutional investor would take the risk without more knowledge. And despite the change of direction with regards to extended tox studies and potential delays, they manage to raise another £1m.

Potnak, I agree with what you’re saying with regards to people being hacked off with slipping timescales.

I don’t think it’s clear yet as to how long and planned completion of proposed tox studies. Is it possible with more funding this can now move a bit quicker?

FatherTed, I think that’s a fair post. I appreciate the dilution issue, but we have to remember that the primary motivation for listing a company, to raise cash. Yes dilution happens, but if the return on every pound invested is significant, who cares. It’s a gamble/investment, which may or may not pay off.

With regards to the second £1 million. They always said they would take money when they could. Personally, I think they were approached this time, hence the higher price. I also think if they are close to striking a licence deal they will need to use very good and very expensive lawyers to ensure protection. Corporate law is the highest paid in the profession. Considering they paid in effect £150k in fees for this placing, I wouldn’t be surprised if a deal would costs in excess of £500k in professional fees. Just my take.

My buy first thing this morning @ 26.4 showed as a sell

I wonder if the Institution /investor approached Sareum, rather than Sareum approaching them.

I agree Laz, as if they are sorting out prerequisites

From certain investors including the institution that participated in the 11 October 2024 fundraise (the "Subscribers")

We believe these two novel TYK2/JAK1 programmes have the potential to offer differentiated therapies in a number of autoimmune and cancer conditions where there is significant unmet medical need. The data generated from this funding is expected add to the data packages already generated for these two programmes, adding to their value to potential licence partners."

We are delighted to secure this additional funding which, together with £2.36M funding announced last week, enables us to progress our lead programme, SDC-1801, towards Phase 2 readiness and accelerate the preclinical development of SDC-1802.

Sounds like others maybe directly the path forward.

Can you imagine living with Colbalt-blue? Fcuk me, being blue would be an understatement! I think turning blue would be a preferred option!

Seriously, Colbatblue you need to experience what it’s like getting in close to your last day on planet earth, then you might realise just how irrelevant your incessant moaning is. Smile, take in a sunset or two and enjoy life. I can say without a doubt you have far more time behind you than you do in front of you.

This may be of interest ref toxicity studies, maybe relevant if SAR has a potential partner who plan to conduct p2 in the EU.

https://www.ema.europa.eu/en/documents/scientific-guideline/ich-guideline-m3r2-non-clinical-safety-studies-conduct-human-clinical-trials-and-marketing-authorisation-pharmaceuticals-step-5_en.pdf

Ignore that question Damion, I miss read your post

Damion, just out of interest what was your reasoning behind taking part in the last placing?

Today, small pharma companies are overwhelmingly driving innovation, accounting for 63% of all new prescription drug approvals over the past five years. A report by HBM partners showcases this trend by tracking the NMEs that were originally developed by small, mid-sized, and big pharma companies. In 2009, small pharma was responsible for discovering 31% of NMEs; now jump to 2018, when 64% of all NME approvals originated from small pharma, a 103% increase over 2009.

Damion, delays might be the norm for Sareum and I appreciate it’s frustrating . But is it really that surprising? How many people would GSK having working on project of similar proportions to 1801/2. I’m guessing more than 2. How big would said budget be? Why do big pharma rely heavily on smaller companies doing the initial discovery and development?

I believe like a majority of business sectors, the really talented individuals break away and go on their own. Hence why there is so much reliance by big pharma on the small bio firms.

I think 1801 is more attractive to big pharma than you suggest, but that’s just my take. I struggle to believe institutions would invest at this point unless they were confident the balance was weighed in the favour of sareum striking a deal. Like us they know the outcome if no deal is made.

Colbalt, miss use of the plural, sells. Please indicate the other “massive” sell? Do you have a big red nose and a flower in your lapel that squirts water?