TIDMSAR
RNS Number : 7146W
Sareum Holdings PLC
14 December 2023
Sareum Holdings PLC
("Sareum" or the "Company")
Annual General Meeting Statement
Cambridge, UK, 14 December 2023 - Sareum Holdings plc (AIM:
SAR), a biotechnology company developing next generation kinase
inhibitors for autoimmune disease and cancer, publishes an update
on operational activities and pipeline progress ahead of its Annual
General Meeting ("AGM") taking place today at 10.00 am at 85
Gresham Street, London EC2V 7NQ.
At the AGM, the Company's Non-Executive Chairman, Dr Stephen
Parker, will provide the following overview:
The Company made good progress in 2023 with its lead programme,
SDC-1801, with a Phase 1a clinical trial underway in Australia.
SDC-1801 (autoimmune disease)
SDC-1801, Sareum's TYK2/JAK1 inhibitor, continues to demonstrate
promise as a potential new treatment for autoimmune diseases with
an initial focus on psoriasis, an autoimmune condition affecting
the skin. The Phase 1a clinical trial, evaluating SDC-1801 in
healthy subjects, commenced in May 2023 at a specialist clinical
unit in Melbourne, Australia.
Following approval by the safety review committee, based on
preliminary data from the initial cohorts in the single ascending
dose part of the study, dosing began in the multiple ascending dose
escalation phase of the study in September 2023. The Company has
also recently started a food effects study for the compound. This
part of the study will inform whether the drug should be taken with
food or on an empty stomach, optimising its potential benefits
while potentially minimising any possible side effects.
Full safety data from the Phase 1a clinical 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.
Also in 2023, the first patent for SDC-1801 was granted by the
China National Intellectual Property Administration. This patent
safeguards the use of SDC-1801 for medical applications in treating
inflammatory or immune disorders. Additionally, after receiving a
Notice of Allowance from the Japan Patent Office in November, the
patent for SDC-1801 has now been formally granted in Japan.
SDC-1802 (cancer Immunotherapy)
Sareum continues to work on the translational studies required
to support the development of SDC-1802 as a candidate for cancer
immunotherapy. These studies are aimed at identifying the most
appropriate cancer application for SDC-1802, an important step
before proceeding to toxicology and manufacturing studies.
In June 2023, the United States Patent and Trademark Office
granted a new patent that encompasses the treatment of autoimmune
diseases with SDC-1802 and several of its analogues. This expansion
effectively broadens the compound's protective reach beyond its
primary focus in immuno-oncology.
Licensed Programme - SRA737: A Selective Chk1 inhibitor
Sierra Oncology, Inc, a subsidiary of GSK plc, has 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 actively engaged in evaluating
potential further development opportunities for SRA737. Further
updates will be provided as soon as possible.
Equity Prepayment Facility with RiverFort
As announced on 3 August 2023, Sareum agreed terms on an Equity
Prepayment Facility (the "Facility") of up to GBP5.0 million with
RiverFort Global Opportunities PCC Ltd. The Company received an
initial deposit of GBP2.0 million prior to associated costs, on 4
August 2023. Sareum drew down an additional GBP0.3 million as the
Second Deposit under this Facility on 23 November 2023.
If fully drawn down, the Facility, together with anticipated tax
incentives of GBP1.6 million (of which GBP0.4 million has already
been received), should enable the completion of the Phase 1a/b
clinical development of SDC-1801, expected to be a catalyst for
driving shareholder value, and for general working capital to Q4
2024.
Summary
In conclusion, the Board remains optimistic about Sareum's
pipeline of kinase inhibitors. The focus remains on advancing
SDC-1801 into further clinical development, supported by a strong
intellectual property foundation and a prudent approach to
financial planning.
CPF is taking the lead in evaluating potential further
development opportunities for SRA737 and further updates will be
provided as soon as possible.
We would like to thank our shareholders and other stakeholders
for their continued support and look forward to providing further
updates on progress in due course.
AGM Webcast
A live webcast to investors will be made available online via
the Investor Meet Company platform. Existing and potential
investors wishing to participate in the presentation can register
on
www.investormeetcompany.com/sareum-holdings-plc/register-investor.
Questions can be submitted before the event via the Investor Meet
Company dashboard or at any time via the live presentation via the
"Ask a Question" function. Responses from the Q&A session will
be published at the earliest opportunity on the IMC platform.
Shareholders are reminded that attendance online will not
constitute attendance at the AGM and shareholders will not be able
to vote on the day.
For further information, please contact:
Sareum Holdings plc
Tim Mitchell, CEO 01223 497700
Lauren Williams, Head of Investor Relations ir@sareum.co.uk
Strand Hanson Limited (Nominated Adviser)
James Dance / James Bellman 020 7409 3494
Peel Hunt LLP (Joint Corporate Broker)
James Steel / Patrick Birkholm 020 7418 8900
Hybridan LLP (Joint Corporate Broker)
Claire Noyce
020 3764 2341
ICR Consilium (Financial PR)
Jessica Hodgson / Davide Salvi / Stella
Lempidaki 020 3709 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 has an economic interest in SRA737, a clinical-stage Chk1
inhibitor which it originally developed in collaboration with
several Cancer Research UK-related organisations. SRA737 has shown
promising safety and efficacy in two Phase 1/2 clinical trials.
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
- Ends -
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December 14, 2023 02:00 ET (07:00 GMT)
Sareum (LSE:SAR)
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