Sareum Holdings plc
("Sareum" or the "Company")
Management Changes
Cambridge, UK, 10 July 2024 -
Sareum Holdings plc (AIM: SAR), a clinical-stage biotechnology
company developing next-generation kinase inhibitors for autoimmune
disease and cancer, announces certain management team
changes.
Dr. Tim Mitchell, co-founder and
Chief Executive Officer (CEO), will, after twenty years with the
Company, transition to the part-time role of Chief Operating
Officer (COO). Dr. Mitchell will continue to serve on Sareum's
Board of Directors (the "Board").
Dr. Stephen Parker, currently
Non-Executive Chairman, will assume the position of Executive
Chairman on the Board. The Board currently intends to seek to
appoint a new CEO, at the appropriate time, as the Company and its
future strategy develops.
Additionally, Mr. Clive Birch has
been appointed as Senior Independent Director.
Dr.
Stephen Parker, Executive Chairman at Sareum,
commented: "I'm really excited to be stepping into the
position of Executive Chairman at Sareum at this critical time in
the Company's history. Tim's decision to transition to the
part-time role of COO comes at a time when we have achieved an
important milestone of positive data from the Phase 1 trial of our
lead product, SDC-1801. I would like to acknowledge the immense
contribution Tim has made since founding the company twenty years
ago. I wish him well as he takes up his new role at Sareum and I'm
very pleased that we will continue to benefit from his expertise
and experience."
Dr.
Tim Mitchell, Chief Operating Officer of Sareum
added: "After many years as CEO, I
am looking forward to transitioning into the role of Chief
Operating Officer. I will continue to support Sareum's mission and
work closely with Stephen and the Board as we advance the
development of our pipeline. The positive data from the Phase 1
clinical trial of SDC-1801 highlights the potential of our lead
product and sets a solid foundation for the
future."
- END -
For Further
Information:
|
Sareum
Holdings plc
Stephen Parker, Executive
Chairman
|
01223 497700
ir@sareum.co.uk
|
|
Strand Hanson
Limited (Nominated Adviser)
James Dance / James Bellman
|
020 7409
3494
|
|
Hybridan LLP
(Corporate Broker)
Claire Noyce
|
020 3764
2341
|
|
ICR Consilium
(Financial PR)
Jessica Hodgson / Davide Salvi / Kumail Waljee
|
0203 709
5700
|
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. SDC-1801 is a
potential treatment for a range of autoimmune diseases and has
entered Phase 1a/b clinical development with an initial focus on
psoriasis.
Sareum is also developing SDC-1802, a TYK2/JAK1
inhibitor with a potential application for cancer
immunotherapy.
Sareum Holdings plc is based in Cambridge, UK,
and 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