Sareum Holdings PLC Management Changes

RNS Number : 7463V

Sareum Holdings PLC

10 July 2024

 

Sareum Holdings plc

("Sareum" or the "Company")

 

Management Changes

 

Cambridge, UK, 10 July 2024 - Sareum Holdings plc (AIM: SAR), a clinical-stage biotechnology company developing next-generation kinase inhibitors for autoimmune disease and cancer, announces certain management team changes.

 

Dr. Tim Mitchell, co-founder and Chief Executive Officer (CEO), will, after twenty years with the Company, transition to the part-time role of Chief Operating Officer (COO). Dr. Mitchell will continue to serve on Sareum's Board of Directors (the "Board").

 

Dr. Stephen Parker, currently Non-Executive Chairman, will assume the position of Executive Chairman on the Board.  The Board currently intends to seek to appoint a new CEO, at the appropriate time, as the Company and its future strategy develops.

 

Additionally, Mr. Clive Birch has been appointed as Senior Independent Director.

 

Dr. Stephen Parker, Executive Chairman at Sareum, commented: "I'm really excited to be stepping into the position of Executive Chairman at Sareum at this critical time in the Company's history. Tim's decision to transition to the part-time role of COO comes at a time when we have achieved an important milestone of positive data from the Phase 1 trial of our lead product, SDC-1801. I would like to acknowledge the immense contribution Tim has made since founding the company twenty years ago. I wish him well as he takes up his new role at Sareum and I'm very pleased that we will continue to benefit from his expertise and experience."

 

Dr. Tim Mitchell, Chief Operating Officer of Sareum added: "After many years as CEO, I am looking forward to transitioning into the role of Chief Operating Officer. I will continue to support Sareum's mission and work closely with Stephen and the Board as we advance the development of our pipeline. The positive data from the Phase 1 clinical trial of SDC-1801 highlights the potential of our lead product and sets a solid foundation for the future."

 

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For Further Information:

 

Sareum Holdings plc Stephen Parker, Executive Chairman	01223 497700 [e-mail]
Strand Hanson Limited (Nominated Adviser) James Dance / James Bellman	020 7409 3494
Hybridan LLP (Corporate Broker) Claire Noyce	020 3764 2341
ICR Consilium (Financial PR) Jessica Hodgson / Davide Salvi / Kumail Waljee	0203 709 5700

 

About Sareum

 

Sareum Holdings (AIM:SAR) is a clinical-stage biotechnology company developing next generation kinase inhibitors for autoimmune disease and cancer.

 

The Company is focused on developing next generation small molecules which modify the activity of the JAK kinase family and have best-in-class potential. Its lead candidate, SDC-1801, simultaneously inhibits TYK2 and JAK1. SDC-1801 is a potential treatment for a range of autoimmune diseases and has entered Phase 1a/b clinical development with an initial focus on psoriasis.

 

Sareum is also developing SDC-1802, a TYK2/JAK1 inhibitor with a potential application for cancer immunotherapy.

 

Sareum Holdings plc is based in Cambridge, UK, and is listed on the AIM market of the London Stock Exchange, trading under the ticker SAR. For further information, please visit the Company's website at www.sareum.com

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