Cancer drug discovery business Sareum Holdings has entered into a co-development agreement with research institute SRI International.
The two have joined forces to advance Sareum's Tyrosine Kinase 2 (TYK2) small molecule drug discovery programme for readiness in human clinical trials.
Research will focus on the development of small molecule the therapeutics targeting TYK2, one of the four janus kinase (JAK) family members implicated in a number of inflammatory diseases.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"The agreement with SRI gives us access to world-class autoimmune disease biology and drug development expertise," said Sareum's Chief Executive Officer Tim Mitchell.
"We are delighted to be working with SRI. As we have stated in the past, our intention has been to enter into agreements that help develop our research into commercially viable products in the most effective and efficient way."
SRI Biosciences' Center for Immunology and Infectious Diseases will co-lead discovery and development activities.
Annalisa D'Andrea, Senior Director of SRI's Center for Immunology and Infectious Diseases, added: "Because of TYK2's critical role in the signalling of inflammatory cytokines, there is strong scientific rationale for developing TYK2 inhibitors for the treatment of autoimmune and inflammatory diseases such as multiple sclerosis, rheumatoid arthritis, sepsis, and Crohn's Disease."
Shares rose 7.32% to 1.10p at 08:19 Monday.
RD
