(MENAFN- ProactiveInvestors - UK) Shares in Sareum Holdings Plc (LON:SAR) advanced 8% in London as it said it was poised for Phase I clinical trials of its CHK1 inhibitor drug candidate CCT245737.
Two trials are expected to open in collaboration with partner the CRT Pioneer Fund, at the Royal Marsden Hospital, Sutton on May 31 this year.
One trial will use CCT245737 in combination with standard-of-care chemotherapy to target lung and pancreatic cancer. The other will use the candidate as a single anti-cancer agent and will initially target various cancers.
Chief executive Dr Tim Mitchell said "We are very pleased to report the anticipated start of the two clinical trials of CCT245737, the first from our development pipeline to be dosed in cancer patients."
Sareum paid 797,500 to the funding of these trials in December last year and the submission of clinical trial applications in February 2016 triggered the receipt by Sareum of a 200,000 success milestone payment.
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