Business
Update on financial and operational progress
Update on financial and operational progress.
About this update from Sareum Holdings Plc
[{"type":"text","content":"\n\nSareum Holdings PLC\n(\"Sareum\" or the \"Company\")\nSareum updates on financial and operational progress\n· Equity Prepayment Facility of up to £5.0 million agreed with RiverFort Global Opportunities PCC Ltd which provides funding towards the Phase 1 trial of SDC-1801\n· Phase 1a clinical trial of lead programme SDC-1801 progressing well in Australia\n· Multiple Ascending Dose escalation phase expected to commence in Q3 2023, subject to Safety Review Committee approval\nCambridge, UK, 16 August 2023 - Sareum Holdings plc (AIM: SAR), a clinical-stage biotechnology company developing next generation kinase inhibitors for autoimmune disease and cancer, today provides a business update ahead of its full year results for the year ended 30 June 2023, and updates on the progress of its SDC-1801 Phase 1a clinical trial and other operations.\nDr Tim Mitchell, CEO of Sareum, commented:\n\"With a newly agreed funding facility designed to support Sareum through the Phase 1 study of its lead programme, SDC-1801, and good initial progress on the Phase 1a part of the trial, Sareum has begun the new financial year with significant momentum.\n\"Pending the continuing good progress of the single ascending dose stage and review of the results by the safety review committee, we expect Part 2 of the trial, the multiple ascending dose, to commence in Q3 2023.\n\"We remain fully focused on bringing SDC-1801 to patients and are encouraged both by the growing commercial momentum around the TYK2/JAK1 space and by the progress of our trial. We look forward to progressing into the next phase of this trial as soon as possible and will update investors accordingly.\"\nOPERATIONAL HIGHLIGHTS - STRONG CLINICAL PROGRESS\nSDC-1801 (autoimmune disease)\nSDC-1801 is a TYK2/JAK1 inhibitor being developed as a potential new therapeutic for a range of autoimmune diseases with an initial focus on psoriasis, an autoimmune condition affecting the skin.\nSDC-1801 is currently undergoing a Phase 1a clinical trial designed to investigate the safety, tolerability, pharmacokinetics and pharmacodynamics of an oral formulation of SDC-1801 in healthy subjects (trial ID ACTRN12623000416695p). This is a randomised, placebo-controlled trial, with single and multiple ascending oral dose studies.\nRecruitment of participant...