Sareum Holdings share price
The Sareum Holdings share price jumped by 10.29% on Monday, at the time of writing, after the company confirmed it raised £1m courtesy of a high-net-worth individual to move forward its drug development programmes.
The drug discovery and development company has been on an excellent run as of late, just recently announcing positive results from its government-funded Covid-19 research project, As a result, interest from investors in the AIM-listed company has risen, as has the Sareum Holdings share price. Over the past six months, the Sareum Holdings share price is up by 242.73%.
The investor subscribed to 14.3m shares at 7p per share, a 4.5% premium on last week’s close, Sareum Holdings revealed.
The drugs company said the money will be used to improve its SDC-1801 and SDC-1802 programmes, which Sareum is developing as therapies for autoimmune diseases.
Dr Tim Mitchell, CEO of Sareum Holdings plc, commented: “We are delighted that our proprietary TYK2/JAK1 development programmes are attracting such interest and new investment. With this new subscription, the total funds raised from recent subscriptions and warrant exercises is over £3.5 million.”
“These new funds will allow us both to advance SDC-1801 into clinical development in autoimmune diseases, including the immune overreaction to Covid-19 and other viral infections, and to progress the preclinical development of our second TYK2/JAK1 inhibitor SDC-1802 against cancers.”
As ever is it risky to invest in drug development programmes and companies. While some drugs make it through all the stages, many do not make it. Complications can also occur with timing, with delays being commonplace.
Having said that, the investment received is exciting for the company, along with recent news, and investors are clearly galvanised. This has been reflected in the recent upturn of the Sareum Holdings share price.