Sareum Holdings PLC Update re: FLT3+Aurora Kinase Inhibitor Programme (1328L)
09 January 2021 - 2:54AM
UK Regulatory
TIDMSAR
RNS Number : 1328L
Sareum Holdings PLC
08 January 2021
SAREUM HOLDINGS PLC
("Sareum" or "the Company")
Update re: FLT3+Aurora Kinase Inhibitor Programme
Cambridge, UK, 8 January 2021 - Sareum Holdings plc (AIM: SAR),
the specialist drug development company delivering targeted small
molecule therapeutics to improve the treatment of cancer and
autoimmune diseases, reports that the licensing partner (the
"Licensee") for its FLT3+Aurora kinase programme (the "FLT3
programme") has decided not to exercise its option to continue the
development of the programme. Sareum received formal confirmation
of the Licensee's decision today. Worldwide rights to the FLT3
programme, as well as data relating to progress made by the
Licensee, will therefore revert to Sareum.
As announced on 26 March 2020, the previously de-prioritised
FLT3 programme was licensed to a China-based specialty pharma
company for which Sareum received an upfront payment of
approximately GBP50,000. While the Licensee has improved the
bioavailability of the lead compound in the FLT3 programme, it has
been unable to achieve the level needed to trigger the milestone
under the licensing agreement and, as a result, it has decided to
terminate the licence agreement and relinquish its rights to the
FLT3 programme, with no further payments being due to Sareum.
Sareum's CEO, Dr Tim Mitchell, commented :
"We will review the data and progress made with the programme by
our Chinese partner over the coming weeks and will evaluate options
for re-partnering the FLT3 programme. While early studies with our
FLT3+Aurora kinase inhibitors were promising, formulation continues
to be a challenge. Our clear priority focus remains on advancing
our proprietary TYK2/JAK1 programmes and, in the near-term, on
completing the preclinical work needed for the first Clinical Trial
Application during the first quarter of the year. Achieving this
important milestone will be a key step in generating shareholder
value from our TYK2/JAK1 pipeline."
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 / James Bellman 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).
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
continues to explore options that would enable the development of
SRA737 to advance.
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
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