Alliance News10 Jun 2022 14:32
Sareum Holdings PLC - Cambridge, England-based drug developer for cancer and autoimmune diseases - Notes agreement for Sierra Oncology Inc to be acquired by GlaxoSmithKline PLC. Sierra is the license holder for SRA737, a treatment discovered and developed by Sareum before the license was sold to Sierra. Sierra has several potential clinical trials in the pipeline for SRA737 as a combination treatment for haematologic and solid tumour indications. According to an amended USD299 million licensing deal for the drug, Sareum still has a 28% share of future milestone payments as well as royalties on future sales. "The dosing of the first patient with SRA737 in any new clinical trial would result in a USD2.0m payment from Sierra, with 28% of this due to Sareum," the company explains.