TIDMSAR
RNS Number : 3956D
Sareum Holdings PLC
25 June 2019
(AIM: SAR) 25 June 2019
The information contained within this announcement is deemed by
the Company to constitute inside information under the Market Abuse
Regulation (EU) No. 596/2014
Sareum Holdings plc
("Sareum" or "the Company")
Placing to raise GBP513,200 to progress proprietary TYK2/JAK1
programmes
in preclinical development
Sareum Holdings plc (AIM: SAR), the specialist cancer drug
discovery and development business, announces that it has raised
GBP513,200, before expenses, through a placement by Hybridan LLP of
128,300,000 new ordinary shares of 0.025p each in the capital of
the Company (the "Placing Shares") at 0.4p per share.
The net proceeds of the placing will be used to progress the
Company's TYK2/JAK1 drug development programmes as well as for
working capital purposes.
Mr Clive Birch, Non-executive Director at Sareum, has subscribed
for 1,250,000 of these Placing Shares.
Application has been made for the Placing Shares, which will
rank pari passu with the Company's existing Ordinary Shares, to be
admitted to trading on London Stock Exchange AIM ("Admission"). It
is anticipated that Admission will become effective at 8.00 am on 2
July 2018.
Following the admission of the Placing Shares to trading on AIM,
the Company will have a total of 3,004,243,219 shares in issue.
This figure may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in the
Company under the FCA's Disclosure and Transparency Rules.
The Company will imminently issue a further announcement
concerning an opportunity for retail investors to participate on
the same terms.
Dr Tim Mitchell, CEO of Sareum Holdings plc, said: "The
potential for our two preclinical TYK2/JAK1 inhibitors in
autoimmune diseases and cancer is gaining increasing clinical
validation and we are convinced that SDC-1801 and SDC-1802
represent strong and well-differentiated candidates to address
diseases within these areas. We are focused on advancing these
exciting preclinical candidates towards human trials as quickly as
possible, aiming for first-in-man studies to begin in 2020."
For further information, please contact:
Sareum Holdings plc
Tim Mitchell 01223 497 700
WH Ireland Limited (Nominated Adviser)
Chris Fielding / James Sinclair-Ford 020 7220 1666
Hybridan LLP (Nominated Broker)
Claire Noyce 020 3764 2341
Citigate Dewe Rogerson (Media enquiries)
Shabnam Bashir/ Mark Swallow/ David
Dible 020 7638 9571
Notes for editors:
Sareum is a specialist drug development company delivering
targeted small molecule therapeutics, to improve the treatment of
cancer and autoimmune disease. The Company generates value through
licensing its candidates to international pharmaceutical and
biotechnology companies at the preclinical or early clinical trials
stage.
Sareum's leading clinical-stage programme, SRA737, a novel
Checkpoint kinase 1 (Chk1) inhibitor licensed to NASDAQ-listed
Sierra Oncology, is in Phase 2 clinical trials targeting multiple
advanced cancers. The key role of Chk1 in cancer cell replication
and DNA damage repair suggests that SRA737 may have broad
application as a targeted therapy 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, London, UK in collaboration with
Sareum, and with funding from Cancer Research UK. SRA737 was
licensed to Sierra Oncology for up to $328.5 million plus royalties
by Sareum's co-investment partner, CRT Pioneer Fund. Sareum is
eligible to receive up to $88 million in milestone payments, plus
sales royalties as SRA737 advances.
Notable highlights from the Phase 1/2 preliminary results
reported by Sierra at ASCO (June 2019) were:
SRA737 + low dose gemcitabine (LDG) combination
-- Striking anti-tumour activity was observed in patients with
anogenital cancer, including examples where metastatic disease was
cleared from liver and lung.
-- Tumour size decreased by more than a third in 30% of the
evaluable anogenital cancer patients and a further 30% had durable
stable disease.
-- Sierra outlined a potential route to market for SRA737+LDG in
anogenital cancer via a registration-intent Phase 2 trial.
SAR737 monotherapy
High-grade serous ovarian cancers (HGSOC) appeared to be the
most sensitive tumour to SRA737, with the disease being controlled
(stable disease) in 54% of evaluable patients.
Sareum is also advancing internal programmes focused on distinct
dual tyrosine kinase 2 (TYK2) /Janus kinase 1 (JAK1) inhibitors
through preclinical development as therapies for autoimmune
diseases (SDC-1801) and cancers (SDC-1802). TYK2 and JAK1 have
roles in pro-inflammatory responses in autoimmune diseases (e.g.
psoriasis, rheumatoid arthritis, inflammatory bowel diseases and
lupus) and tumour cell proliferation in certain cancers (e.g.
T-cell acute lymphoblastic leukaemia and some solid tumours). The
Company is targeting first human clinical trials in each indication
in 2020.
The Company also has an Aurora+FLT3 inhibitor targeting
haematological cancers, which is at the preclinical development
stage.
Sareum Holdings plc is listed on the AIM market of the London
Stock Exchange, trading under the ticker SAR. For further
information, please visit www.sareum.co.uk
- Ends -
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END
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