Business
Drawdown of Equity Prepayment Facility
Drawdown of Equity Prepayment Facility.
About this update from Sareum Holdings Plc
[{"type":"text","content":"\n\nSareum Holdings PLC\n(\"Sareum\" or the \"Company\")\nDrawdown of Equity Prepayment Facility\nCambridge, UK, 23 November 2023 - Sareum Holdings plc (AIM: SAR), a biotechnology company developing next generation kinase inhibitors for autoimmune disease and cancer, announces that it has drawn down on the £0.3 million Second Deposit in respect of the Equity Prepayment Facility announced on 3 August 2023.\nIn accordance with the terms of the Equity Prepayment Facility, the Company will issue 227,892 four year warrants over ordinary shares of 1.25p each exercisable at a price of £0.829337 to Riverfort.\nUnless otherwise defined herein, all capitalised terms in this announcement shall have the meanings assigned to them in the Company's announcements of 3 August 2023.\nFor further information, please contact: \n\n\n\n\nSareum Holdings plc\nTim Mitchell, CEO\nLauren Williams, Head of Investor Relations\n \n\n\n \n01223 497700\[email protected]\n\n\n\n\nStrand Hanson Limited (Nominated Adviser)\nJames Dance / James Bellman\n \n\n\n \n020 7409 3494\n\n\n\n\nPeel Hunt LLP (Joint Corporate Broker)\nJames Steel / Patrick Birkholm\n \n\n\n \n020 7418 8900\n\n\n\n\nHybridan LLP (Joint Corporate Broker)\nClaire Noyce\n \nICR Consilium (Financial PR)\nJessica Hodgson / Davide Salvi / Stella Lempidaki\n \n\n\n \n020 3764 2341\n \n \n020 3709 5700\n\n\n\n\n \nAbout Sareum\nSareum Holdings (AIM:SAR) is a clinical-stage biotechnology company developing next generation kinase inhibitors for autoimmune disease and cancer.\nThe Company is focused on developing next generation small molecules which modify the activity of the JAK kinase family and have best-in-class potential. Its lead candidate, SDC-1801, simultaneously inhibits TYK2 and JAK1. SDC-1801 is a potential treatment for a range of autoimmune diseases and has entered Phase 1a/b clinical development with an initial focus on psoriasis.\nSareum has an economic interest in SRA737, a clinical-stage Chk1 inhibitor which it originally developed in collaboration with several Cancer Research UK-related organisations. SRA737 has shown promising safety and efficacy in two Phase 1/2 clinical trials.\nSareum is also developing SDC-1802, a TYK2/JAK1 inhibitor with a potential application for cancer immunotherapy.\nSareum Holdings plc is bas...