- Smaller molecule therapeutics developer Sareum said it had won conditional approval from the UK government for a grant worth around £174,000 to investigate the potential of a treatment for severe Covid-19.

The treatment was SDC-1801, the company's selective, small molecule TYK2/JAK1 kinase inhibitor.

The grant was subject to a standard financial review of the company and the submission of additional documentation, which had been provided to UK Research & Innovation.

Sareum had agreed to contribute around £64,000 in cash and commit additional management time to the project, which was expected to take about six months to complete.

At 1:54pm: [LON:SAR] Sareum Holdings PLC share price was +0.13p at 2.35p

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