Last checked at 27 Oct 2020 11:00
SAREUM HOLDINGS PLC
("Sareum" or "the Company")
Sareum Announces Grant Funding Conditionally Approved by the UK Government (UKRI) to Explore Potential of SDC-1801, a Selective TYK2/JAK1 Inhibitor, to Treat Covid-19
Cambridge, UK, 27 October 2020 - Sareum Holdings plc (AIM: SAR), the specialist drug development company delivering targeted small molecule therapeutics to improve the treatment of cancer and autoimmune diseases, is pleased to announce that its application for approximately £174,000 grant award (the "Grant") by UK Research & Innovation ("UKRI") to investigate the therapeutic potential of SDC-1801, its selective, small molecule TYK2/JAK1 kinase inhibitor, in severe phase Covid-19, has been conditionally approved.
The Grant is subject to the UKRI's standard financial review of the Company and the submission of additional documentation, which the Company has provided to the UKRI and is now awaiting a formal grant offer letter (the "Offer Letter"). Subject to the Offer Letter being received and the Grant being provided, Sareum has agreed to contribute an additional c.£64,000 in cash and commit additional management time to the project, which is expected to take approximately six months to complete.
A further announcement will be made in due course as and when appropriate.
Sareum's CSO, Dr John Reader, commented:
"We are delighted that UKRI has indicated its conditional support for our programme to investigate the therapeutic potential of SDC-1801, our proprietary TYK2/JAK1 inhibitor, in severe phase COVID-19. There is a pressing need for new therapies to treat this potentially life-threatening disease, and there is evidence to show that TYK2/JAK1 signalling may play an important role in the inflammatory cascade that leads to the cytokine storm observed in some patients."
This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
For further information, please contact:
Sareum Holdings plc
Tim Mitchell, CEO 01223 497 700
Strand Hanson Limited (Nominated Adviser)
James Dance / Richard Tulloch 020 7409 3494
Hybridan LLP (Nominated Broker)
Claire Noyce / John Beresford-Peirse 020 3764 2341
Citigate Dewe Rogerson (Financial PR)
Mark Swallow/ David Dible 020 7638 9571
About Sareum
Sareum is a specialist drug development company delivering targeted small molecule therapeutics to improve the treatment of cancer and autoimmune diseases. The Company aims to generate value through licensing its candidates to international pharmaceutical and biotechnology companies at the preclinical or early clinical trials stage.
Sareum is advancing internal programmes focused on distinct dual tyrosine kinase 2 (TYK2) / Janus kinase 1 (JAK1) inhibitors through preclinical development as therapies for autoimmune diseases, including the 'cytokine storm' immune system overreaction to Covid-19 and other viral infections, (SDC-1801) and cancer immunotherapy (SDC-1802).
The Company's preclinical FLT3+Aurora inhibitor programme targeting haematological cancers is licensed to a China-based specialty pharma company.
Sareum also has an economic interest in SRA737, a clinical-stage oral, selective Checkpoint kinase 1 (Chk1) inhibitor that targets cancer cell replication and DNA damage repair mechanisms. Preliminary Phase 2 and comprehensive preclinical data suggest SRA737 may have broad application in combination with other oncology and immune-oncology drugs in genetically defined patients.
SRA737 was discovered and initially developed by scientists at The Institute of Cancer Research in collaboration with Sareum, and with funding from Sareum and Cancer Research UK. SRA737 was licensed by CRT Pioneer Fund (CPF) to Sierra Oncology Inc. Sierra is currently exploring options to obtain the funding or support necessary to advance the future development of SRA737.
Sareum Holdings plc is listed on the AIM market of the London Stock Exchange, trading under the ticker SAR. For further information, please visit the Company's website at www.sareum.com.