Sareum Holdings - Sierra Oncology returns rights to SRA737
Sareum has announced that Sierra Oncology has decided to return the rights to the out-licensed CHK1 asset SRA737 (held in partnership with the CRT Pioneer Fund, CPF), following GlaxoSmithKline’s (GSK) $1.9bn acquisition of Sierra in July 2022. SRA737 was in-licensed by Sierra in 2016 and Sareum holds a 27.5% economic stake in the proceeds. Development work on SRA737 had been put on hold (due to funding constraints), but Sierra had recently indicated plans for renewed development as a potential combination therapy. This was before Sierra was picked up by GSK for its lead asset momelotinib (targeting myelofibrosis, a haematological cancer of the bone marrow). We see this latest development as a mild setback for Sareum given that GSK’s support could have accelerated development activity on the drug, triggering a $0.55m payment to Sareum from first patient dosing in a new clinical trial. However, it does provide Sareum and partner CPF with an opportunity to actively assess future development plans for SRA737, leveraging the positive clinical data.Sareum Holdings is a holding company. Through its subsidiary, Co. is engaged as a specialist drug discovery and development company delivering targeted small molecule therapeutics, focusing on cancer and autoimmune disease, and licensing them to international pharmaceutical and biotechnology companies at the preclinical or early clinical trials stage. Co.'s drug development pipeline includes: Chk1 (SRA737), which targets genetically defined solid cancers; TYK2, which targets autoimmune diseases and cancer; and Aurora+FLT3, which targets Acute Myeloid Leukemia and other blood cancers.
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