Sareum Holdings Says GSK Completes Acquisition of Sierra Oncology
July 04 2022 - 1:54AM
Dow Jones News
By Michael Susin
Sareum Holdings PLC said on Monday that GSK PLC has completes
the acquisition of Sierra Oncology for US$1.9 billion in cash and
therefore will own Sareum's cancer treatment SRA737 license.
The U.K. drug-development company said that Sareum is eligible
to receive a 27.5% share of any future milestone payments, and
royalties on future sales under an amended $299 million licensing
deal between Sierra and CRT Pioneer Fund LP in 2020.
The SRA737 is an oral treatment currently in clinical stage
which targets cancer-cell replication and DNA-damage repair
mechanisms.
"The dosing of the first patient with SRA737 in any new clinical
trial would result in a $2.0 million payment from Sierra (now GSK),
with 27.5% of this due to Sareum," it added.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
July 04, 2022 02:39 ET (06:39 GMT)
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