Member Info for Krone

Potnak - agree entirely, having been well and truly shafted by Sierra once, it would be negligent to entertain any thought of further dealings.

Thanks Thoth, definitely very exciting times ahead!!

Thoth - do we have timescales for the conclusion of the Sierra fundraise?
Given that Sierra have unequivocally ditched SRA737 would they then want to muddy the momly situation by raising the profile of 737 again? If not Sierra who do we expect will publish the trial data?

You'd think Stephen Parker, after a great sigh of relief, would be shouting this from the rooftops!

https://twitter.com/MGC_Pharma/status/1291540051369713664?s=20
https://twitter.com/MGC_Pharma/status/1291561276582187009?s=20
https://twitter.com/proactive_au/status/1291555422709723137?s=20
https://twitter.com/MGC_Pharma/status/1291559574407802880?s=20

Presumably shareholders can expect an early update on statements in the final results for 2019:
'We continue to believe, based on the promising clinical and preclinical data generated to date, that Sierra has every chance of finding a suitable solution that will enable the development of SRA737 to advance. This, in due course, would lead to Sareum receiving the milestone payments under the licensing agreement between Sierra and CRT Pioneer Fund (CPF), the licensor of SRA737, with which Sareum has a Co-investment and Partnership agreement. We remain in dialogue with CPF to ensure we are informed of developments and are committed to updating shareholders and the market in general as and when the restrictions in the two agreements allow.

The reported trial of Ruxolitinib (JAK STAT): 'Phase 3 Randomized, Double-blind, Placebo-controlled Multi-center Study to Assess the Efficacy and Safety of Ruxolitinib in Patients With COVID-19 Associated Cytokine Storm (RUXCOVID), provides an interesting example and useful context in terms of timescales i.e. it is indicated that this trial will take 6 months from May to October.
Novartis clearly have an established set-up, experience and the necessary resources to run such a trial. Do we seriously think that Tim and John are in a position to manage such a trial of 1801/2?
https://bepartofresearch.nihr.ac.uk/trial-details/trial-detail?trialId=3360&location=&distance=

Hi RMM - I am sure you are right re the Q10. CRT/ICR will surely be wanting to progress 737 given the existing evidence of efficacy and will presumably have had sight of the as yet unpublished trial data.

Given that for the last three years Sierra's second quater results have been published on a Thursday, it would seem likley that there may be some news on SRA737 on Thursday 6th. It would be reasonable to expect Stephen Dilly to want to make his mark and on the basis that Momelotinib is in the slow lane, SRA737 may be the rabbit in the hat? That said based on Sierra's track record it could be another very disappointing blank.

Thoth - remembering that the half year results to 31/12/2019 note - "SDC-1802 gives significant reduction of pancreatic tumour growth in immunodcompetent mice"

Rebster - good point. The contract defines as follows.
“Commercially Reasonable Efforts” means (a) with respect to CPF’s efforts, the efforts and resources commonly used by a virtual biotechnology company with respect to the prosecution and maintenance of Intellectual Property rights and the development of a compound or product of similar potential at a similar stage in its lifecycle; or (b) with respect

- 5 -
EXECUTION VERSION CONFIDENTIAL

to ProNAi’s efforts, the efforts and resources commonly used by a drug development company of similar size, remit and resources as ProNAi, for a product at a similar stage in its life cycle, with the objective of developing such product in a diligent and timely manner, taking into consideration its safety, efficacy, the Patent or other proprietary position the competitiveness of the marketplace, the regulatory structure involved, and the absolute profitability of the product (without reference to any other products being developed or commercialized by or on behalf of ProNAi or its Affiliates).

Rebster - the contract says:

4.6
If at any time during the course of the development or commercialisation of a Licensed Product, ProNAi fails to meet one or more of its obligations under Clauses 4.4 and 4.5 in relation to such Licensed Product for a period of [*] months or more, save where due to the acts or omissions of CPF, then CPF shall have the right to give written notice to ProNAi requesting detailed written justification for such failure and ProNAi shall provide

*Confidential Treatment Requested.
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EXECUTION VERSION CONFIDENTIAL

such detailed written justification to CPF within thirty (30) Business Days of the date of CPF’s request. Where remedy is possible ProNAi shall use its Commercially Reasonable Efforts to take substantive steps to remedy such failure within sixty (60) Business Days of the date of CPF’s request. If ProNAi fails to provide such justification to CPF within thirty (30) days of the date of CPF’s request and/or use its Commercially Reasonable Efforts to take substantive steps to remedy such failure within sixty (60) Business Days of the date of CPF’s request, then, on notice by CPF to ProNAi, this Agreement will terminate in respect of the relevant Licensed Product. Any dispute between the Parties as to whether a diligence failure has arisen or whether ProNAi has used its Commercially Reasonable Efforts to take substantive steps to remedy a diligence failure shall be resolved by the Expert.
https://www.sec.gov/Archives/edgar/data/1290149/000119312516765907/d255357dex101.htm

BIGHOW - probably the complexity of the deal, given the huge number of potential applications, and the multi multi billion pound value of the licence/takeover that’s creating the delays.

With the Trading Statement due late August early September the big question remains as to whether we will see a substantive RNS before then. The smart money must be on 1801/2 and Covid given the cataclysmic impact on the world economy. Given Sareum’s existing and long-standing links with Chinese organisations it seems increasingly likely that a deal may be with Chinese pharma.

It doesn't take 4 months to draft a grant application....much more likely therefore that the 'partnering' pharma organisation takes this forward having either licensed 1801/2 or more likely bought out Sareum...imminently!

Correction - slide 16

It will be absolutely fascinating to see how the 'Potential Milestones and Value Drivers' (slide 18) is updated in the 6 month report to 30 June 2020. As far as I can see thus far we have only had the publication of the DoD Lupus Repport. There is a maelstrom of further information due...very exciting indeed!!!
http://www.sareum.com/files/6115/8522/3119/Sareum_Interims_Mar_2020.pdf

Brighty - I'm in wholehearted agreement with you. The absence of an effective comms strategy is an ongoing concern!

Zylo - unlikely to be significantly ahead of schedule given the impact of Covid on clinical trials and the fact that they have been touting for participants over the last few weeks..
https://twitter.com/sierraoncology/status/1282711837067358210?s=21

https://twitter.com/sierraoncology/status/1288117123005333505?s=21