RE: Edison Note Out12 Nov 2024 15:49
Sareum Holdings’ FY24 results summarised an active period for lead asset
SDC-1801, a dual TYK2/JAK1 inhibitor, which successfully completed
Phase I trials in Australia and is now undergoing preparatory work to
commence Phase II studies, likely in psoriasis patients. The recently
reported unblinded data noted robust pharmacokinetic
(PK)/pharmacodynamic (PD) properties and reiterated the drug’s desirable
safety profile. While Sareum had previously proposed a smaller Phase Ib
study, the plan has pivoted to running a larger Phase II trial, which requires
a long-term (c 16 weeks) toxicology study before initiation. Sareum
recently secured £3.4m in equity funding and a further c £1m in R&D tax
credits, which management believes will be sufficient to complete the
Phase II preparatory activities and fund preclinical work on its second
asset, SDC-1802. We believe Sareum will be seeking partnering
opportunities to support Phase II development of SDC-1