- Specialist drug developer Sareum booked a full-year loss as it continued to develop small-molecule therapeutics for cancer, autoimmune diseases and potentially Covid-19.

Pre-tax losses for the year through June amounted to £1.12 million, compared to losses of £1.68 million year-on-year.

Sareum said it expected to apply in the first quarter of 2021 to commence human trials for the autoimmune diseases treatment SDC-1801.

Separately, a UK grant application had been submitted to fund laboratory studies investigating the potential of Sareum's TYK2/JAK1 inhibitors to address severe inflammatory responses and potentially fatal respiratory symptoms of Covid-19 and other viral infections.

A response was expected by the end of October, which, if successful, would enable initial studies to begin shortly thereafter.

'Sareum has continued to make good progress with the preclinical development of our proprietary dual TYK2/JAK1 inhibitor programmes,' chief executive Tim Mitchell said.

'Most recently, we have overcome an important formulation challenge with SDC-1801, which will now be advanced into the toxicology studies needed to complete our preparations for clinical trials.'

'In addition, we are pleased to have raised additional funding during the period, which will be deployed to advance our proprietary programmes towards clinical development and build a robust data package to support our ongoing partnering activities for these exciting and differentiated assets.'

At 8:58am: [LON:SAR] Sareum Holdings PLC share price was -0.12p at 1.42p

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