REG - Sareum Holdings PLC - Annual General Meeting Statement

Sareum HoldingsAnnouncement

14/12/2023 07:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231214:nRSN7146Wa&default-theme=true

RNS Number : 7146W  Sareum Holdings PLC  14 December 2023

Sareum Holdings PLC

("Sareum" or the "Company")

 

Annual General Meeting Statement

Cambridge, UK, 14 December 2023 - Sareum Holdings plc (AIM: SAR), a
biotechnology company developing next generation kinase inhibitors for
autoimmune disease and cancer, publishes an update on operational activities
and pipeline progress ahead of its Annual General Meeting ("AGM") taking place
today at 10.00 am at 85 Gresham Street, London EC2V 7NQ.

At the AGM, the Company's Non-Executive Chairman, Dr Stephen Parker, will
provide the following overview:

The Company made good progress in 2023 with its lead programme, SDC-1801, with
a Phase 1a clinical trial underway in Australia.

SDC-1801 (autoimmune disease)

SDC-1801, Sareum's TYK2/JAK1 inhibitor, continues to demonstrate promise as a
potential new treatment for autoimmune diseases with an initial focus on
psoriasis, an autoimmune condition affecting the skin. The Phase 1a clinical
trial, evaluating SDC-1801 in healthy subjects, commenced
(https://www.londonstockexchange.com/news-article/SAR/dosing-commences-in-phase-1a-trial-of-sdc-801/15986175)
in May 2023 at a specialist clinical unit in Melbourne, Australia.

Following approval by the safety review committee, based on preliminary data
from the initial cohorts in the single ascending dose part of the study,
dosing began
(https://www.londonstockexchange.com/news-article/SAR/dosing-of-first-subjects-in-mad-phase-1a-trial/16108378)
in the multiple ascending dose escalation phase of the study in September
2023. The Company has also recently started
(https://www.londonstockexchange.com/news-article/SAR/initiation-of-food-effects-study-for-sdc-1801/16202103)
a food effects study for the compound. This part of the study will inform
whether the drug should be taken with food or on an empty stomach, optimising
its potential benefits while potentially minimising any possible side effects.

Full safety data from the Phase 1a clinical trial are expected to be available
during the first half of 2024 and, provided satisfactory results are obtained
and subject to financing and regulatory and recruitment preparations, the
Company plans to initiate a Phase 1b clinical study, aiming to recruit up to
24 psoriasis patients. This study is expected to be completed before the end
of 2024.

Also in 2023, the first patent for SDC-1801 was granted
(https://www.londonstockexchange.com/news-article/SAR/sareum-announces-two-new-granted-patents/16013174)
by the China National Intellectual Property Administration. This patent
safeguards the use of SDC-1801 for medical applications in treating
inflammatory or immune disorders. Additionally, after receiving a Notice of
Allowance from the Japan Patent Office in November, the patent for SDC-1801
has now been formally granted in Japan.

SDC-1802 (cancer Immunotherapy)

Sareum continues to work on the translational studies required to support the
development of SDC-1802 as a candidate for cancer immunotherapy. These studies
are aimed at identifying the most appropriate cancer application for SDC-1802,
an important step before proceeding to toxicology and manufacturing studies.

In June 2023, the United States Patent and Trademark Office granted a new
patent that encompasses the treatment of autoimmune diseases with SDC-1802 and
several of its analogues. This expansion effectively broadens the compound's
protective reach beyond its primary focus in immuno-oncology.

Licensed Programme - SRA737: A Selective Chk1 inhibitor

Sierra Oncology, Inc, a subsidiary of GSK plc, has completed the return of the
Clinical Study Reports and other associated documents and data related to
SRA737 to Sareum's co-development partner, the CRT Pioneer Fund LP ("CPF").
CPF is actively engaged in evaluating potential further development
opportunities for SRA737. Further updates will be provided as soon as
possible.

Equity Prepayment Facility with RiverFort

As announced on 3 August 2023, Sareum agreed
(https://www.londonstockexchange.com/news-article/SAR/equity-prepayment-facility-of-up-to-ps5-million/16068156)
terms on an Equity Prepayment Facility (the "Facility") of up to £5.0 million
with RiverFort Global Opportunities PCC Ltd. The Company received an initial
deposit of £2.0 million prior to associated costs, on 4 August 2023. Sareum
drew down
(https://www.londonstockexchange.com/news-article/SAR/drawdown-of-equity-prepayment-facility/16221430)
an additional £0.3 million as the Second Deposit under this Facility on 23
November 2023.

If fully drawn down, the Facility, together with anticipated tax incentives of
£1.6 million (of which £0.4 million has already been received), should
enable the completion of the Phase 1a/b clinical development of SDC-1801,
expected to be a catalyst for driving shareholder value, and for general
working capital to Q4 2024.

Summary

In conclusion, the Board remains optimistic about Sareum's pipeline of kinase
inhibitors. The focus remains on advancing SDC-1801 into further clinical
development, supported by a strong intellectual property foundation and a
prudent approach to financial planning.

CPF is taking the lead in evaluating potential further development
opportunities for SRA737 and further updates will be provided as soon as
possible.

We would like to thank our shareholders and other stakeholders for their
continued support and look forward to providing further updates on progress in
due course.

AGM Webcast

A live webcast to investors will be made available online via the Investor
Meet Company platform. Existing and potential investors wishing to participate
in the presentation can register on
www.investormeetcompany.com/sareum-holdings-plc/register-investor
(http://www.investormeetcompany.com/sareum-holdings-plc/register-investor) .
Questions can be submitted before the event via the Investor Meet Company
dashboard or at any time via the live presentation via the "Ask a Question"
function. Responses from the Q&A session will be published at the earliest
opportunity on the IMC platform.

Shareholders are reminded that attendance online will not constitute
attendance at the AGM and shareholders will not be able to vote on the day.

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 / Patrick Birkholm                      020 7418 8900

 Hybridan LLP (Joint Corporate Broker)

 Claire Noyce                                        020 3764 2341

 ICR Consilium (Financial PR)

 Jessica Hodgson / Davide Salvi / Stella Lempidaki   020 3709 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 has an economic interest in SRA737, a clinical-stage Chk1 inhibitor
which it originally developed in collaboration with several Cancer Research
UK-related organisations. SRA737 has shown promising safety and efficacy in
two Phase 1/2 clinical trials.

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
(http://www.sareum.com)

- Ends -

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  AGMNKNBBKBDBDBD