Cambridge, UK – Sareum Holdings PLC has announced the completion of a £2.4 million fundraise via subscription to further the development of SDC-1801, a next-generation kinase inhibitor targeting autoimmune diseases. The funding, combined with a £1 million tax credit received earlier this month, will support crucial longer-term toxicology studies necessary to advance SDC-1801 into Phase 2 clinical trials.
SDC-1801: A Promising TYK2/JAK1 Inhibitor
SDC-1801 is being developed as a potential treatment for various autoimmune conditions. The recent Phase 1 trial demonstrated a favorable safety profile, along with impressive pharmacokinetics and biomarker effects, bolstering confidence in its potential as a best-in-class TYK2/JAK1 inhibitor.
"The recent successful completion of our Phase 1 trial, demonstrating SDC-1801's favourable safety profile, combined with impressive pharmacokinetics and biomarker effects, has reinforced our confidence in its potential as a best-in-class TYK2/JAK1 inhibitor," said Executive Chair Stephen Parker.
Addressing Unmet Needs in Autoimmune Diseases
Autoimmune diseases affect millions worldwide, often requiring long-term management with limited treatment options. Sareum believes SDC-1801 has the potential to offer increased efficacy compared to existing therapies in a number of autoimmune conditions where there is a serious unmet medical need. This funding brings us closer to realising that potential and potentially delivering a new, more effective treatment option for millions of patients worldwide.
Financial Position and Market Response
The subscription involved the issuance of 11.8 million new ordinary shares at 20 pence each. Following the announcement, shares in Sareum Holdings experienced a positive market reaction, trading 1.8% higher at 28.00 pence each in London on Friday afternoon. The firm currently holds a market capitalization of £30.2 million.
