Sareum Holdings (AIM:SAR) has raised £3.2 million before expenses through a subscription for 22.81 million new shares at 14p each, a discount of 49% to the 27.5p closing price on 7 October, the last day before trading was paused.
The AIM-listed clinical-stage biotech, which develops kinase inhibitors for autoimmune disease and cancer, placed the shares directly with new and existing investors, including two institutional investors introduced by Marex Financial.
Net proceeds are earmarked to fund the company's lead programme, SDC-1801, through to a Phase 2-ready position and to continue work on its neuroscience programme, alongside anticipated R&D tax credits for general working capital.
SDC-1801 is a selective oral TYK2/JAK1 inhibitor being developed initially for psoriasis; Sareum completed dosing in its Phase 2-enabling toxicology programme in July, and is now analysing that data while advancing chemistry, manufacturing and controls work, targeting a full Phase 2-enabling regulatory package by the fourth quarter.
The company noted that rival brepocitinib reported positive Phase 3 data in dermatomyositis during the year and won FDA approval in August as Lisraya, the first approved oral treatment for that condition, a sign of how the TYK2/JAK1 field has moved since Sareum began developing SDC-1801.
Read more about Sareum
- 08/10/26Sareum signals intention to launch equity capital raise
- 20/07/26Sareum completes toxicology dosing for psoriasis drug candidate
- 22/06/26Sareum publishes Phase 1 data on SDC-1801 in peer-reviewed journal
Separately, following the conclusion of its collaboration with Receptor.AI to find blood-brain-barrier-penetrant, isoform-selective TYK2/JAK1 inhibitors for neuroinflammatory indications, Sareum has synthesised a first batch of compounds and put them through early-stage biochemical and ADME testing.
Sareum intends to launch a retail offer to existing shareholders via the Winterflood Retail Access Platform at the same 14p issue price, aiming to raise up to £100,000 before expenses.
Trading in Sareum's shares on AIM, paused since 7.30am on 8 October when the company entered a "Capital Access Window" to pursue the fundraise, is expected to resume at 7.30am today.