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Sareum Holdings plc
("Sareum" or the "Company")
Issue of RiverFort Subscription Shares
Cambridge, UK, 15 April 2024 - Sareum Holdings plc (AIM: SAR), a clinical-stage biotechnology company developing next-generation kinase inhibitors for autoimmune disease and cancer, announces that it has issued 3,000,000 new Ordinary Shares in the capital of the Company to RiverFort Global Opportunities PCC Ltd ("RiverFort"), in accordance with the terms of the Facility as announced on 3 August 2023.
The Company has an outstanding balance of circa £0.64 million under the Facility. Any balances pursuant to the Facility are not due for repayment until August 2025 (the "Maturity Date") and the Company expects to settle all balances by the issuance of Subscription Shares or by cash prior to the Maturity Date.
As noted in Sareum's announcement of 28 March 2024, the Company does not intend to make any further withdrawals pursuant to the Facility with RiverFort.
Admission and Total Voting Rights
Application has been made to the London Stock Exchange plc for the admission of 3,000,000 new Ordinary Shares to trading on AIM ("Admission"). It is expected that Admission will occur at 8.00 a.m. (London time) on or around Thursday 18 April 2024.
Immediately following Admission, the total number of Ordinary Shares in issue will be 101,578,309 and the total number of voting rights will therefore be 101,578,309, and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
Thank you for trying to move this forward, i will try and come along to the next time you meet as i have been keen to meet both of you and RMM at the AGM's due to the level of input and intelligence you bring to the board, plus it has been a very long journey to get to here together, had it not been for a funeral last year i would have attended the AGM, i suppose that is the age we are at guys. If you start anything via email please include me on the list as i am keen to see this through to the end, thanks
I cannot wait to find out what you come across at the offices, i have a funny feeling it will be closed and very quiet, even hiding under desks if they are there with the lights out as a last resort. I so wish i could join you as i have not yet managed to get anyone to answer the phone so i could speak to anyone of them, especially Mr Parker, what a way to run a business. After nearly 20 years of investment from me i find it shocking that they are treating investors who have funded this journey for them with such disdain. Good luck guys tomorrow
Hi Warthog, i too have been trying to get through on the phone as my emails have not been answered, i found it very disappointing that they do not respond to any medium and hope that there are positive things going on in the background as opposed to an exit strategy for the board with a fluffy parachute attached. surely they can let it fall apart now when we were so close, they must have had a plan B?????????, if not what were they doing
My big concern is here that the share price where it is now is not going to put us in any position to attract a good deal be it a buy out or license, someone has said that the science would be the thing doing the talking but i worry we are starting to look desperate and any suitor might see us as over a barrel with no other options??
god i hope that is not the case though as 15 years plus in the share is a long time
Wrote to sareum ir re pay rises and poor communication following age, thought you might like to see the response
Thank you for your email. We appreciate your feedback and continued support of Sareum.
We place a premium on clear and transparent communication and will continue to do so. The RNS we published last week is consistent with this approach and in line with our market obligations. To capture a wider audience we also typically share our updates via social media (X and Linkedin) and with key industry press contacts. On this occasion it resulted in the publication of several press articles. These practices are similar to those of our peer group and typical of biotech reporting.
Our focus is driving the business forward and in particular on progressing the clinical trial for SDC-1801. As we mentioned in our latest RNS, finishing the dosing of the first part of the study and the food effect study is an important milestone. Preliminary blinded safety, tolerability and pharmacokinetics data from the trial indicate a favourable profile and support oral dosing of patients once daily. The multiple ascending dose study is ongoing and full safety data from the Phase 1a clinical trial are expected to be available during the first half of 2024.
Thank you again for your continued interest and support in Sareum
With best regards,
Sareum IR
Hi RMM
I am very disappointed that i can no longer attend the AGM as i have to attend a sudden family funeral.
i was really looking forward to meeting a few of the LTH's and putting faces to names after all of these years, could i ask that you post some notes on the board of the feel of the meeting etc as i value your view on not only news given but the underlying sentiment of the board as well.
Hope to be there if train strikes from midlands do prevent
Look forward to meeting some of the other LTH’s and putting faces to names
Will be good to look board in the eye after 10 years plus holding
Hopefully get a handle on realistic progress chances
Sareum Holdings PLC
("Sareum" or the "Company")
Final Results for the Year Ended 30 June 2023
Cambridge, UK, 9 October 2023 - Sareum Holdings plc (AIM: SAR), a biotechnology company developing next generation kinase inhibitors for autoimmune disease and cancer, today announces its audited financial results for the year ended 30 June 2023.
Additionally, Sareum announces that the Annual Report detailing these financial results will be made available and posted in the coming weeks.
Sareum also provides a broader update on operational activities and pipeline progress.
OPERATIONAL HIGHLIGHTS - INCLUDING POST-PERIOD UPDATES
SDC-1801 (autoimmune disease)
· SDC-1801 is a TYK2/JAK1 inhibitor being developed as a potential new therapeutic for a range of autoimmune diseases with an initial focus on psoriasis, an autoimmune condition affecting the skin.
· A Phase 1a clinical trial evaluating SDC-1801 in healthy subjects was initiated in May 2023, and is progressing well at a specialist clinical unit in Melbourne, Australia.
· In September, after the period end, Sareum commenced dosing in the multiple ascending dose (MAD) escalation phase of the Phase 1a trial. This followed approval by the safety review committee granted upon review of preliminary data generated from the initial three cohorts in the single ascending dose (SAD) part of the study.
· Full safety data from the Phase 1a trial are expected to be available during the first half of 2024 and, provided satisfactory results are obtained and subject to financing and regulatory and recruitment preparations, the Company plans to initiate a Phase 1b clinical study, aiming to recruit up to 24 psoriasis patients. This study is expected to be completed before the end of 2024.
· First patent relating to SDC-1801 was granted by the China National Intellectual Property Administration, safeguarding the use of SDC-1801 for medical applications treating inflammatory or immune disorders.
SDC-1802 (cancer immunotherapy)
· Sareum continues to work on the translational studies needed to support its cancer immunotherapy candidate, SDC-1802, defining the optimal cancer application prior to completing toxicology and manufacturing studies.
· New patent granted by the United States Patent and Trademark Office (USPTO) covering the treatment of autoimmune diseases with SDC-1802 and several analogues and extending protection for this compound beyond immuno-oncology.
SRA737 (cancer)
· Sierra Oncology, Inc, a subsidiary of GSK plc, completed the return of the Clinical Study Reports and other associated documents and data related to SRA737 to Sareum's co-development partner, the CRT Pioneer Fund LP ("CPF").
· CPF is taking the lead in evaluating potential further development opportunities for SRA737 and further updates will be provided as soon as possible.
FINANCIAL HIGHLIGHTS
· The loss for the year to 30
I am so pleased that we have finally got to trial in australia, i am just staggered that the SP has not responded in a more positive way. My guess is that we are still a long way off a deal and this is known by the wider community, i hope i am wrong but it is a little disappointing after so many years in this share.