Sareum Holdings PLC has reiterated its plans to focus on the development of its TYK2/JAK1 programmes: SDC-1801, for autoimmune diseases, and SDC-1802, targeting cancer.
Ahead of the company’s annual meeting, chairman Dr Stephen Parker, said that in SDC-1802, the company has discovered a “potent, orally-available, small molecule contributor to the immune-oncology field, which could prove advantageous over the biological approaches that currently dominate”.
Subject to successfully securing the appropriate financial backing, human trials of the drug candidate are scheduled to begin late next year.
At the end of the last financial year, the company had £920,000 in the bank and it raised £780,000 in July.
Parker said: “The board is actively monitoring the working capital position and has taken steps to maximise the runway, constantly ensuring that the two TYK2/JAK1 compounds take priority in resource allocation.”
Plans announced earlier in the year partner Sierra Oncology to ‘on-licence’ a Sareum-developed cancer drug called SRA737 have delayed an estimated US$5mln of milestone payments due to Sareum.
“The board and management team are evaluating our options and making plans accordingly,” investors were told.