Sareum Holdings (AIM:SAR) has announced its intention to undertake an equity capital raise, opening a "Capital Access Window" on the London Stock Exchange ahead of any formal fundraise.
The AIM-listed biotechnology company develops next-generation kinase inhibitors for autoimmune disease and cancer, with lead candidate SDC-1801, a TYK2/JAK1 inhibitor, initially targeted at psoriasis.
Sareum completed dosing in the Phase 2-enabling toxicology programme for SDC-1801 earlier this year, work it has said to date has been funded from existing cash resources, as it targets completion of a full Phase 2-enabling regulatory package by the end of the fourth quarter.
The company's pipeline also includes SDC-1802, a TYK2/JAK1 inhibitor aimed at certain haematological cancers, a recently initiated preclinical programme targeting neuroinflammatory diseases such as multiple sclerosis and Parkinson's disease, and the licensed clinical-stage checkpoint kinase 1 inhibitor SRA737, which targets cancer cell replication and DNA damage repair mechanisms.
The announcement does not disclose the size, structure, price or timing of any intended raise.