Sierra Oncology is exploring non-dilutive strategic options to support the continued development of its portfolio of DNA damage response (DDR) assets, including SRA737.
Chk1 controls a cancer cell's response to DNA damage, which could be caused by the disease itself or intentionally caused by chemotherapy or radiotherapy.
Sierra is currently using SRA737 in in two mid-stage ovarian cancer studies: one as a monotherapy and another in combination with low-dose gemcitabine – one of the most commonly-prescribed chemotherapies.
Data so far has been promising, but Sierra is focusing its resources on the development of momelotinib – its flagship drug that is being developed as a treatment for myelofibrosis.
SRA737 has shown its potential
“The clinical results presented with SRA737 at ASCO and the identification of a route to market in a cancer indication with high unmet need, together with preclinical work highlighting it in combination with other leading therapeutic modalities, clearly demonstrate the value that could be created through the further development of SRA737,” said Sareum chief executive Tim Mitchell.
“We are confident that these qualities of SRA737, based on the excellent work done to date, will be recognised and that Sierra will be successful in securing the strategic options it is seeking.”
Sierra CEO, Nick Glover, added: “While we continue to advance the assets in our DDR portfolio and view them as promising oncology drug candidates that warrant further development, we are prioritizing our resources on our lead drug, momelotinib.”
Sareum shares were down 2.2% to 0.42p on Thursday afternoon.