Sareum Holdings PLC Sareum notes acquisition of Sierra Oncology by GSK (3162I)
April 13 2022 - 10:00AM
UK Regulatory
TIDMSAR
RNS Number : 3162I
Sareum Holdings PLC
13 April 2022
SAREUM HOLDINGS PLC
("Sareum" or "the Company")
Sareum notes proposed acquisition of Sierra Oncology by GSK
Cambridge, UK, 13 April 2022 - Sareum Holdings plc (AIM: SAR),
the specialist drug development company, notes that Sierra
Oncology, Inc ("Sierra"), the licence holder for SRA737 (a novel
Chk1 inhibitor), has agreed to be acquired by GlaxoSmithKline plc
("GSK") for US$1.9 billion in cash. The transaction is expected to
close in the third quarter of 2022 or before. GSK has noted that
the key driver of the acquisition was momelotinib, a drug Sierra is
developing for the treatment of myelofibrosis, which reported
positive topline results in a Phase III study in January 2022.
SRA737 was discovered and initially developed by scientists at
The Institute of Cancer Research in collaboration with Sareum, and
with funding from Sareum and Cancer Research UK. SRA737 was
licensed to Sierra in September 2016.
During the second half of 2021 and early 2022, Sierra noted it
is finalising the design of several potential clinical trials to
advance its pipeline candidates, including SRA737, which it said
could start in 2022. These trials would investigate SRA737 in
combination with other agents in haematologic and solid tumour
indications.
Under an amended US$299m licensing deal on SRA737 between Sierra
and CRT Pioneer Fund LP, Sareum is eligible to receive a 27.5%
share of any future milestone payments as well as royalties on any
future sales. The dosing of the first patient with SRA737 in any
new clinical trial would result in a US$2.0m payment from Sierra,
with 27.5% of this due to Sareum.
The full announcement made by Sierra can be viewed here .
For further information, please contact:
Sareum Holdings plc
Tim Mitchell, CEO 01223 497700
Strand Hanson Limited (Nominated Adviser)
James Dance / James Bellman 020 7409 3494
Peel Hunt LLP (Joint Corporate Broker)
James Steel 020 7418 8900
Hybridan LLP (Joint Corporate Broker)
Claire Noyce 020 3764 2341
MEDiSTRAVA Consulting (Financial PR)
Mark Swallow / George Underwood / Evelyn
McCormack 020 3928 6900
About Sareum
Sareum is a specialist drug development company delivering
targeted small molecule therapeutics to improve the treatment of
cancer and autoimmune diseases. 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,
including the 'cytokine storm' immune system overreaction to
Covid-19 and other viral infections, (SDC-1801) and cancer
immunotherapy (SDC-1802).
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 Phase 2 and comprehensive preclinical 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 Sareum and Cancer Research UK. SRA737 was
licensed by CRT Pioneer Fund (CPF) to Sierra Oncology Inc. Sierra
continues to explore options that would enable the development of
SRA737 to advance.
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.com
- Ends -
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