Sareum raises £0.8m to advance TYK2/JAk1 programmes
Sareum Holdings (SAR) has raised £0.78m through a placing of 195m shares at 0.4p per share, in a move principally designed to progress its TYK2/JAK1 programmes. As a result of the placing, the company will have 3.07bn shares in issue. The funds Sareum to advance its internal programmes – SDC-1801 for autoimmune disease and SDC-1802 for cancer – with the aim of entering clinical trials in 2020.
Recently, the company reported that toxicology studies designed to insight to the maximum-tolerated dose (MTD) have to date shown excellent tolerability with doses of SDC-1801 up to 30 times the level that gave good responses in efficacy studies with the MTD has yet to be reached. Multiple dose-finding studies are now underway to identify doses to use in specific toxicology studies, which are intended to form part of the applications for initial human trials. Sareum has been exploring manufacturing routes to produce each candidate for preclinical and clinical studies. Such a route has been developed for SDC-1801 and activities continue to confirm a route of synthesis for SDC-1802.