TIDMSAR
RNS Number : 2722Y
Sareum Holdings PLC
02 January 2024
Sareum Holdings PLC
("Sareum" or the "Company")
Development and commercialisation licence for SRA737
Cambridge, UK, 2 Jan 2024 - Sareum Holdings plc (AIM: SAR), a
clinical-stage biotechnology company developing next-generation
kinase inhibitors for autoimmune disease and cancer , today
announces that the Company's co-development partner, the CRT
Pioneer Fund ("CPF"), has entered into a development and
commercialisation licence agreement for SRA737 (the "Licensing
Agreement") with a private biopharma company based in the United
States (the "Licensee Company").
Under the terms of the Licensing Agreement, an immediate upfront
payment of US$0.5 million is due to CPF. An additional fee made up
of up to US$1.0 million cash and 500,000 shares in the Licensee
Company (the "Consideration Shares") may be payable upon the sooner
of 12 months following the signing of the Licensing Agreement, or
the event of the Licensee Company achieving certain commercial and
material financing objectives. A further announcement regarding any
future income, including any Consideration Shares which may be
issued, will be made at the appropriate time.
Additional payments to the aggregate amount of up to US$289
million may become payable to CPF under the Licensing Agreement,
subject to achievement of certain development, regulatory and
commercial milestones which may or may not be achieved. The
Licensee Company will also pay tiered high single digit royalties
to CPF on the net sales of any product successfully developed and
commercialised.
Under the terms of Sareum's co-development agreements with CPF
and Cancer Research Technology Ltd, Sareum is entitled to receive
27.5% of any income arising from this licensing of the SRA737
programme. Therefore, Sareum is entitled to receive US$137,500 from
the upfront fee payable under the Licensing Agreement, as well as
27.5% of any future payments payable by the Licensee Company
(including any Consideration Shares received), under the terms of
the Licensing Agreement.
Dr Tim Mitchell, CEO of Sareum, commented: "SRA737 has shown
considerable promise in earlier clinical studies, demonstrating a
robust safety profile and preliminary efficacy, in particular in
combination with low dose chemotherapy. With CPF, we are very
pleased a partner has been identified to advance this exciting
molecule into further development and believe this licensing
agreement offers the best path forward for SRA737.
"Sareum is entitled to a share of income from potential
development and sales milestones from this agreement for SRA737
which have the potential to support Sareum's TYK2/JAK1 development
pipeline. The team at Sareum is now focused on our lead programme,
SDC-1801, which is progressing in clinical studies in Australia,
and more broadly on TYK2/JAK1 inhibitors, a class which we believe
has significant potential in autoimmune diseases and cancer."
About SRA737
SRA737 is a clinical-stage oral, selective Checkpoint Kinase 1
inhibitor that targets cancer cell replication and DNA damage
repair mechanisms. It was discovered and initially developed by
scientists at the Institute of Cancer Research in collaboration
with Sareum, with funding from Sareum and Cancer Research UK.
SRA737 was licensed by CPF to Sierra in September 2016. Sierra
progressed SRA737 through Phase 1/2 clinical development and, at
the 2019 American Society of Clinical Oncology (ASCO) Annual
meeting, reported positive preliminary efficacy and safety data
from two clinical trials evaluating SRA737 as a monotherapy and in
combination with chemotherapy.
Following the acquisition of Sierra by GSK in July 2022,
primarily for Sierra's momelotinib myelofibrosis asset, the rights
to SRA737 were returned to CPF in January 2023.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 as it forms part of
United Kingdom domestic law by virtue of the European Union
(Withdrawal) Act 2018, as amended by virtue of the Market Abuse
(Amendment) (EU Exit) Regulations 2019.
- Ends -
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 / P atrick Birkholm 020 7418 8900
Hybridan LLP (Joint Corporate Broker)
Claire Noyce 020 3764 2341
Consilium Strategic Communications (Financial
PR)
Jessica Hodgson / Davide Salvi / Stella
Lempidaki 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
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