Sareum notes Sierra Oncology Q3 2019 results

RNS Number : 3155S

Sareum Holdings PLC

05 November 2019

 

(AIM: SAR)
5 November 2019

Sareum Holdings PLC

("Sareum" or the "Company")

Sareum notes Sierra Oncology has reported its Third Quarter 2019 Results and Published its Form 10-Q with the US SEC

Sareum Holdings plc, the specialist small molecule drug development business, notes that Sierra Oncology, Inc. ("Sierra"), the licence holder advancing clinical cancer candidate SRA737, announced its financial and operational results for the third quarter ended 30 September 2019 late yesterday after Nasdaq market close.

In the announcement, Sierra states that it is conducting a campaign intended to seek non-dilutive strategic options to support the future advancement of SRA737, based on its decision to prioritise its resources on the development of its lead candidate momelotinib (announced in June 2019).

The full announcement by Sierra can be found by clicking here and the Form 10-Q can be accessed here.

For further information, please contact: 

Sareum Holdings plc
Tim Mitchell	01223 497 700
Strand Hanson Limited (Nominated Adviser)
James Dance / Richard Tulloch	020 7409 3494
Hybridan LLP (Nominated Broker)
Claire Noyce / John Beresford-Peirse	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 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 (SDC-1801) and cancers (SDC-1802). The Company is targeting first human clinical trials in each indication in 2020.

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 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 Cancer Research UK. SRA737 was licensed by CRT Pioneer Fund (CPF) to Sierra Oncology, in a $328.5m plus royalties licence deal, with Sareum eligible to receive 27.5% of all payments to CPF under the agreement.

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.co.uk.

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