Sareum welcomes revised deal between Sierra and CPF on checkpoint inhibitor
Sareum Holdings has welcomed a revised licensing agreement between Sierra Oncology and Cancer Research Technology Pioneer Fund (CPF) for the cancer drug candidate SRA737.
The revision reduces potential milestone payments that CPF could receive for the checkpoint kinase 1 inhibitor from a total of $319.5million to $290.0million.
Sareum, based in Pampisford, continues to be eligible for 27.5 per cent of the revised numbers.
SRA737 is a clinical-stage molecule that targets cancer cell replication and DNA damage repair mechanisms. Preliminary phase II and preclinical data suggest it could have broad application in combination with other oncology and immuno-oncology drugs in genetically defined patients.
It was discovered and initially developed by scientists at The Institute of Cancer Research in collaboration with Sareum, and with funding from Sareum and Cancer Research UK.
It was licensed by CPF to Sierra in September
Sareum CEO Dr Tim Mitchell explained: “We believe this revised agreement between Sierra and CPF clears the way for the further clinical development of SRA737, either internally or through a partner, giving Sareum the potential to benefit from downstream milestone payments.
“While the aggregate level of these milestone payments is reduced, we are confident that this amendment will expedite the advancement of the SRA737 programme in a timely manner. We look forward to further updates on the clinical development of SRA737, a molecule that has shown great promise in clinical trials and preclinical studies, particularly in combination with other types of cancer therapy.
“In parallel, we continue to invest our own cash resources to progress our exciting wholly owned TYK2/JAK1 inhibitor programmes towards the clinic as planned.”
Sierra remains required to pay CPF, on a product-by-product and country-by-country basis, tiered royalties on the net sales of any product successfully developed.
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