Sareum-discovered cancer drug dumped by GSK's Sierra

12 October 2022

GSK (LSE: GSK) subsidiary Sierra Oncology has returned rights for oncology candidate SRA737 to the CRT Pioneer Fund (CPF), a joint initiative between commercialization and development company Cancer Research Technology and the European Investment Fund.

The move sent shares in Sareum Holdings (AIM: SAR) tumbling. The UK biotech, which is developing next generation kinase inhibitors for autoimmune disease and cancer, was trading more than 20% lower at lunchtime on Wednesday.

"We continue to believe that SRA737 has great potential in several oncology applications"

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