t
Sareum Holdings PLC announced on 23 November 2023 that it has drawn down the £0.3 million Second Deposit from its Equity Prepayment Facility. In accordance with the facility's terms, Sareum will issue 227,892 four-year warrants over ordinary shares to Riverfort, exercisable at £0.829337 per share.
| Date | 23 Nov 2023 |
| Time | 07:00:07 |
| Category | Miscellaneous |
| ID | 3826U |
("Sareum" or the "Company")
Drawdown of Equity Prepayment Facility
Cambridge, UK, 23 November 2023 - Sareum Holdings plc (AIM: SAR), a biotechnology company developing next generation kinase inhibitors for autoimmune disease and cancer, announces that it has drawn down on the £0.3 million Second Deposit in respect of the Equity Prepayment Facility announced on 3 August 2023.
In accordance with the terms of the Equity Prepayment Facility, the Company will issue 227,892 four year warrants over ordinary shares of 1.25p each exercisable at a price of £0.829337 to Riverfort.
Unless otherwise defined herein, all capitalised terms in this announcement shall have the meanings assigned to them in the Company's announcements of 3 August 2023.
For further information, please contact:
|
Sareum Holdings plc Tim Mitchell, CEO Lauren Williams, Head of Investor Relations
|
01223 497700 |
|
Strand Hanson Limited (Nominated Adviser) James Dance / James Bellman
|
020 7409 3494 |
|
Peel Hunt LLP (Joint Corporate Broker) James Steel / Patrick Birkholm
|
020 7418 8900 |
|
Hybridan LLP (Joint Corporate Broker) Claire Noyce
ICR Consilium (Financial PR) Jessica Hodgson / Davide Salvi / Stella Lempidaki
|
020 3764 2341
020 3709 5700 |
About Sareum
Sareum Holdings (AIM:SAR) is a clinical-stage biotechnology company developing next generation kinase inhibitors for autoimmune disease and cancer.
The Company is focused on developing next generation small molecules which modify the activity of the JAK kinase family and have best-in-class potential. Its lead candidate, SDC-1801, simultaneously inhibits TYK2 and JAK1. SDC-1801 is a potential treatment for a range of autoimmune diseases and has entered Phase 1a/b clinical development with an initial focus on psoriasis.
Sareum has an economic interest in SRA737, a clinical-stage Chk1 inhibitor which it originally developed in collaboration with several Cancer Research UK-related organisations. SRA737 has shown promising safety and efficacy in two Phase 1/2 clinical trials.
Sareum is also developing SDC-1802, a TYK2/JAK1 inhibitor with a potential application for cancer immunotherapy.
Sareum Holdings plc is based in Cambridge, UK, and is listed on the AIM market of the London Stock Exchange, trading under the ticker SAR. For further information, please visit the Company's website at www.sareum.com
- Ends -