31st May 2018 12:17
LONDON (Alliance News) - Sareum Holdings PLC said on Thursday that it has regained its worldwide rights to a potential treatment for leukaemia and other blood-related cancers.
The drug development company said that it had regained its worldwide rights to "preclinical-stage small molecule inhibitors of Aurora and FLT3 kinases", which have potential to treat acute myeloid leukaemia - an aggressive cancer affecting myeloid white blood cells.
The rights to the treatment have been returned to Sareum from a Chinese pharmaceutical group. The rights return package includes the Chinese group's preclinical data and grants full control over the preclinical development of the Aurora and FLT3 kinase inhibitors to Sareum.
In return, the Chinese group will be given a "low-mid single digit percentage" of Sareum's net revenue from licencing the treatment.
Sareum Chief Executive Officer Tim Mitchell said that "recent industry activity" suggested a "resurgence of interest in Aurora kinase as a target for cancer drugs".
Shares in Sareum Holdings were up 0.7% at 0.78 pence on Thursday.
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