REG - Sareum Holdings PLC - Management Changes

Sareum HoldingsAnnouncement

10/07/2024 07:00

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RNS Number : 7463V  Sareum Holdings PLC  10 July 2024

Sareum Holdings plc

("Sareum" or the "Company")

 

Management Changes

 

Cambridge, UK, 10 July 2024 - Sareum Holdings plc (AIM: SAR), a clinical-stage
biotechnology company developing next-generation kinase inhibitors for
autoimmune disease and cancer, announces certain management team changes.

 

Dr. Tim Mitchell, co-founder and Chief Executive Officer (CEO), will, after
twenty years with the Company, transition to the part-time role of Chief
Operating Officer (COO). Dr. Mitchell will continue to serve on Sareum's Board
of Directors (the "Board").

 

Dr. Stephen Parker, currently Non-Executive Chairman, will assume the position
of Executive Chairman on the Board.  The Board currently intends to seek to
appoint a new CEO, at the appropriate time, as the Company and its future
strategy develops.

 

Additionally, Mr. Clive Birch has been appointed as Senior Independent
Director.

 

Dr. Stephen Parker, Executive Chairman at Sareum, commented: "I'm really
excited to be stepping into the position of Executive Chairman at Sareum at
this critical time in the Company's history. Tim's decision to transition to
the part-time role of COO comes at a time when we have achieved an important
milestone of positive data from the Phase 1 trial of our lead product,
SDC-1801. I would like to acknowledge the immense contribution Tim has made
since founding the company twenty years ago. I wish him well as he takes up
his new role at Sareum and I'm very pleased that we will continue to benefit
from his expertise and experience."

 

Dr. Tim Mitchell, Chief Operating Officer of Sareum added: "After many years
as CEO, I am looking forward to transitioning into the role of Chief Operating
Officer. I will continue to support Sareum's mission and work closely with
Stephen and the Board as we advance the development of our pipeline. The
positive data from the Phase 1 clinical trial of SDC-1801 highlights the
potential of our lead product and sets a solid foundation for the future."

 

- END -

 

For Further Information:

 

 Sareum Holdings plc                              01223 497700

 Stephen Parker, Executive Chairman               ir@sareum.co.uk

 Strand Hanson Limited (Nominated Adviser)        020 7409 3494

 James Dance / James Bellman

 Hybridan LLP (Corporate Broker)                  020 3764 2341

 Claire Noyce

 ICR Consilium (Financial PR)                     0203 709 5700

 Jessica Hodgson / Davide Salvi / Kumail Waljee

 

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
(http://www.sareum.com)

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