REG - Sareum Holdings PLC - Sareum notes GSK's completed acquisition of Sierra

Sareum HoldingsAnnouncement

04/07/2022 07:00

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RNS Number : 1195R  Sareum Holdings PLC  04 July 2022

SAREUM HOLDINGS PLC

("Sareum" or "the Company")

Sareum notes completion of Sierra Oncology's acquisition by GSK

Cambridge, UK, 4 July 2022 - Sareum Holdings plc (AIM: SAR), the specialist
drug development company, notes that GSK has completed its acquisition of
Sierra Oncology, Inc ("Sierra"), the licence holder for SRA737 (a novel Chk1
inhibitor), for US$1.9 billion in cash. The acquisition was approved by
Sierra's shareholders on 29 June 2022.

GSK has noted that the key driver of the acquisition was momelotinib, a drug
Sierra is developing for the treatment of myelofibrosis. Sierra reported
positive topline results from a Phase III study investigating momelotinib in
this indication in January 2022 and submitted a New Drug Application ("NDA")
to the US Food and Drug Administration ("FDA") in June 2022 for marketing
approval.

Following the acquisition, GSK also now owns the licence rights to SRA737, a
clinical-stage oral, selective Checkpoint kinase 1 inhibitor that targets
cancer cell replication and DNA damage repair mechanisms. 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 and has
progressed through multiple preclinical and early-stage clinical trials
demonstrating potential for further investigation 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 (announced 12 November 2020), 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 (now GSK), with 27.5% of
this due to Sareum.

The full announcement made by GSK can be viewed here
(https://otp.investis.com/clients/uk/GlaxoSmithKline2/rns_new/regulatory-story.aspx?cid=410&newsid=1601648)
.

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., acquired by GSK in July 2022.

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 (http://www.sareum.com)

- Ends -

 

 

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