Proactive Investors - Run By Investors For Investors

Sareum raises £680k as it looks to take its TYK2/JAK1 inhibitors into the clinic next year

Sareum raised the money by selling 170.37mln new shares at 0.4p each – a 25% discount to Tuesday’s closing price
cytokine
TYK2/JAK1 inhibitors regulate the number of cytokines the body produces

Sareum Holdings PLC (LON:SAR) has raised £681,000 which it will use to advance its TYK2/JAK1 inhibitor programme towards human trials.

The drug developer sold 170.37mln new shares at 0.4p as part of the fundraising, which was carried out on the online investment platform, PrimaryBid.

Sareum has mapped out preclinical programmes for its two TYK2/JAK1 inhibitors – called SDC-1801 and SDC-1802 – and is targeting human trials at some point in 2020.

READ: Sareum surges as it signals progress on preclinical programmes

TYK2/JAK1 inhibitors work by regulating the number of cytokines – a group of proteins that play an important part in boosting the immune system – produced by the body.

They have proved useful in treating cancers such as renal cell carcinoma and melanoma, as well as autoimmune diseases such as psoriasis and alopecia.

“We are pleased to have successfully completed this new fundraising, particularly the participation from retail investors, as well as the continued support from our existing shareholder base,” said chief executive Tim Mitchell.

“The funds will be used to advance our lead internal TYK2/JAK1 inhibitor programmes towards human trials.

“We believe we have the potential to generate significant value with these candidates, which represent exciting prospects in an area of increasing interest in the pharmaceutical industry.”

Sareum shares fell 27% to 0.4p in early deals on Wednesday, reflecting the discount to the issue price.

View full SAR profile View Profile

Sareum Holdings PLC Timeline

Related Articles

Challenge trials can speed up vaccine development
May 30 2019
The challenge trial charts the entire disease life cycle from healthy to sick and back to health.
test tubes
April 16 2019
Summit Therapeutics' potential breakthrough targets C.difficile
Cancer cells
February 06 2019
In October 2018, Maxcyte saw the first patient dosed in an initial phase I trial using its lead MCY-M11 therapy, tracking a total of 15 women with relapsed or hard-to-treat forms of cancer

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use