Update re: FLT3+Aurora Kinase Inhibitor Programme

Update re: FLT3+Aurora Kinase Inhibitor Programme

Cambridge, UK, 8 January 2021 – Sareum Holdings plc (AIM: SAR), the specialist drug development company delivering targeted small molecule therapeutics to improve the treatment of cancer and autoimmune diseases, reports that the licensing partner (the “Licensee”) for its FLT3+Aurora kinase programme (the “FLT3 programme”) has decided not to exercise its option to continue the development of the programme. Sareum received formal confirmation of the Licensee’s decision today. Worldwide rights to the FLT3 programme, as well as data relating to progress made by the Licensee, will therefore revert to Sareum.

As announced on 26 March 2020, the previously de-prioritised FLT3 programme was licensed to a China-based specialty pharma company for which Sareum received an upfront payment of approximately £50,000. While the Licensee has improved the bioavailability of the lead compound in the FLT3 programme, it has been unable to achieve the level needed to trigger the milestone under the licensing agreement and, as a result, it has decided to terminate the licence agreement and relinquish its rights to the FLT3 programme, with no further payments being due to Sareum.

Sareum’s CEO, Dr Tim Mitchell, commented:

“We will review the data and progress made with the programme by our Chinese partner over the coming weeks and will evaluate options for re-partnering the FLT3 programme. While early studies with our FLT3+Aurora kinase inhibitors were promising, formulation continues to be a challenge. Our clear priority focus remains on advancing our proprietary TYK2/JAK1 programmes and, in the near-term, on completing the preclinical work needed for the first Clinical Trial Application during the first quarter of the year. Achieving this important milestone will be a key step in generating shareholder value from our TYK2/JAK1 pipeline.”

This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.

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