Last checked at 12 Oct 2022 07:00
Sareum Holdings PLC
("Sareum" or the "Company")
Update on SRA737
Cambridge, UK, 12 October 2022 - Sareum Holdings plc (AIM: SAR), a clinical stage biotechnology company developing next generation kinase inhibitors for autoimmune disease and cancer, announces that it has been informed by Sierra Oncology, Inc. ("Sierra") (a subsidiary of GSK plc ("GSK") that it intends to return the rights for SRA737 to the CRT Pioneer Fund LP ("CPF").
SRA737, a clinical-stage oral, selective Checkpoint kinase 1 inhibitor that targets cancer cell replication and DNA damage repair mechanisms, was discovered and initially developed by scientists at The Institute of Cancer Research in collaboration with Sareum, with funding from Sareum and Cancer Research UK.
Sareum will discuss actively with CPF the potential options for future development opportunities for SRA737 and evaluate its next steps accordingly.
CPF acquired worldwide commercial rights to the programme in 2013 as part of a co-development agreement with Sareum. SRA737 was licensed by CPF to Sierra in September 2016. Sierra progressed SRA737 through Phase 1/2 clinical development and, at the 2019 ASCO Annual meeting, reported positive preliminary efficacy and safety data from two clinical trials evaluating SRA737 as a monotherapy and in combination with chemotherapy. In addition, preclinical data have been reported that indicate triple drug combinations involving SRA737 may show great promise against hard-to-treat cancers. Sierra has not progressed the asset beyond the Phase 1/2 clinical trial.
Sierra was acquired by GSK in July 2022.
Dr Tim Mitchell, CEO of Sareum, commented:
"We continue to believe that SRA737 has great potential in several oncology applications, and Sareum now has the opportunity to be involved in planning its future development, supported by the positive clinical studies previously undertaken by Sierra.
"Sareum has a strong pipeline of kinase inhibitors on the threshold of clinical development. Subject to regulatory approval, we plan to advance our lead candidate SDC-1801 into clinical development shortly, a significant milestone for our business. With a strong pipeline and increased clinical validation around the JAK kinase space, we are optimistic about the potential of this drug class, both for patients and commercially."
- Ends -
For further information, please contact:
Sareum Holdings plc Tim Mitchell, CEO
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01223 497700 |
Strand Hanson Limited (Nominated Adviser) James Dance / James Bellman
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020 7409 3494 |
Peel Hunt LLP (Joint Corporate Broker) James Steel
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020 7418 8900 |
Hybridan LLP (Joint Corporate Broker) Claire Noyce
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020 3764 2341 |
Consilium Strategic Communications (Financial PR) Jessica Hodgson / Davide Salvi / Stella Lempidaki |
0203 709 5700 |
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014, which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.
About Sareum
Sareum Holdings (AIM:SAR) is a clinical stage biotechnology company developing next generation kinase inhibitors for autoimmune disease and cancer.
The Company is focused on developing next generation small molecules which modify the activity of the JAK kinase family and have best-in-class potential. Its lead candidate, SDC 1801, simultaneously inhibits TYK2 and JAK1. SDC1801 is a potential treatment for a range of autoimmune diseases, which has entered clinical development with an initial focus on psoriasis. Sareum is also developing SDC1802, a TYK2/JAK1 inhibitor with a potential application for cancer immunotherapy.
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