StockMarketWire.com - Specialist pharmaceutical company Sareum booked a full-year loss as it continued to develop small-molecule therapeutics to improve the treatment of autoimmune diseases and cancer.

Pre-tax losses for the year through June amounted to £1.72 million, compared to year-on-year losses of £1.12 million.

'Sareum continues to advance the preclinical development of its proprietary dual TYK2/JAK1 inhibitor programmes,' chief executive Tim Mitchell said.

'We are close to completing the preclinical development of SDC-1801 with the aim of starting the clinical development of this novel compound in the second half of 2022.'

'This is clearly a very important milestone for the company.'

'In addition, the early preclinical results we have seen with SDC-1801 in our Covid-19 programme suggest that it may have potential to address the hyper-inflammatory response that some patients experience, and we are looking at the next steps to advance development in this indication.'

'We are particularly pleased to have raised substantial additional funding that will be deployed to advance these programmes into clinical development and build a robust data package that will add momentum to our ongoing partnering activities for these exciting and differentiated assets.'

"Furthermore, the possibility that clinical combination studies of SRA737 could be initiated by Sierra in the first half of 2022 is very encouraging and would represent a significant advance in the development of the SRA737 programme.'

'We look forward to further updates on the clinical development of this candidate as the programme progresses.'


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