Sareum Holdings PLC Sierra seeks strategic options for SRA737 (6916D)
June 27 2019 - 8:50AM
UK Regulatory
TIDMSAR
RNS Number : 6916D
Sareum Holdings PLC
27 June 2019
(AIM: SAR) 27 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")
Sareum notes Sierra Oncology announcement that it is exploring
non-dilutive options to support future continued development of
SRA737
Sareum Holdings plc (AIM: SAR), the specialist cancer drug
discovery and development business, notes the announcement made
today by Sierra Oncology ("Sierra"), the licence holder for novel
oral Chk1 inhibitor SRA737, that it is exploring non-dilutive
strategic options to support the future continued development of
its portfolio of potent and selective DDR (DNA Damage Response)
assets, including SRA737. The decision was made by Sierra as it
revealed its plans to prioritise its existing resources on the
development of momelotinib, its differentiated Phase 3 drug
candidate for the treatment of patients with myelofibrosis.
Commenting on the plans in relation to SRA737, Nick Glover,
President and CEO of Sierra Oncology, said: "We recently reported
compelling proof-of-concept clinical efficacy data for SRA737 at
the 2019 ASCO Annual Meeting, demonstrating that this drug
candidate has notable anti-cancer activity in multiple indications
and a defined clinical path forward towards potential initial
registration for the treatment of anogenital cancer, an indication
with considerable unmet need."
Dr Glover continued: "While we continue to advance the assets in
our DDR portfolio and view them as promising oncology drug
candidates that warrant further development, we are prioritizing
our resources on our lead drug, momelotinib. To support the
continued development of SRA737 in the future, we intend to seek
non-dilutive strategic options."
Dr Tim Mitchell, CEO of Sareum Holdings plc, added: "The
clinical results presented with SRA737 at ASCO and the
identification of a route to market in a cancer indication with
high unmet need, together with preclinical work highlighting it in
combination with other leading therapeutic modalities, clearly
demonstrate the value that could be created through the further
development of SRA737. We are confident that these qualities of
SRA737, based on the excellent work done to date, will be
recognised and that Sierra will be successful in securing the
strategic options it is seeking."
The full announcement from Sierra Oncology can be found by
clicking here
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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