Sareum ‘increasingly optimistic’ in novel autoimmune disease treatment potential
() , a clinical-stage biotechnology company, announced its audited financial results for the year ended 30 June 2023, with secured financing and resources positioning the company well to advance its lead programme, SDC-1801, into the next study phase.
In the first half, Sareum reported a loss of £3.2 million after tax, compared to £2.2 million in 2022. This increase is due to the costs relating to the clinical studies for SDC-1801. Cash stood at £1.0 million, down from £2.9 million on December 31, 2022, and £4.3 million on June 30, 2022.
On August 3, 2023, Sareum secured a £5.0 million Equity Prepayment Facility with RiverFort Global Opportunities, receiving an initial deposit of £2.0 million on August 4, 2023. This funding, combined with anticipated £1.6 million in tax incentives, will be used to advance the Phase 1a/b clinical development of SDC-1801, covering operational costs until Q4 2024.
SDC-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.
In May 2023, a Phase 1a clinical trial for SDC-1801 in healthy subjects began in Melbourne/ Dosing in the multiple ascending dose (MAD) escalation phase began in September after approval from the safety review committee. Full safety data from the Phase 1a clinical trial is anticipated in H1 2024. Sareum added that pending positive results and necessary preparations, a Phase 1b study with up to 24 psoriasis patients is planned to conclude by the end of 2024.
Additionally, a patent related to medical applications for SDC-1801 in treating inflammatory or immune disorders was granted by the China National Intellectual Property Administration.
Its other two programmmes that target cancer immunotherapy and cancer are progressing well, with a new patent granted by the United States Patent and Trademark Office, covering the treatment of autoimmune diseases with SDC-1802.
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Sareum Holdings is a clinical-stage biotechnology company developing next generation kinase inhibitors for autoimmune disease and cancer. The company focuses on targeting small molecule therapeutics which are designed to disrupt the biochemical processes that drive the growth of cancers and development of auto-immune diseases.
Its lead programme, SDC-1801 is well placed in a rapidly growing market. Psoriasis is an autoimmune dermatological condition affecting more than 125 million adults worldwide, with a market size for potential treatments estimated to be worth US$27.0 billion. Sareum believes that TYK2/JAK1 inhibition offers the potential for increased efficacy in psoriasis, compared with existing approved therapies.
Looking forward, Sareum said that the continued progress of its Phase 1a trial and its supporting preclinical work, combined with growing commercial and scientific momentum building around the TYK2/JAK1 class, underpins confidence around the commercial potential for this molecule.
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