Sareum Holdings Says GSK Completes Acquisition of Sierra Oncology

By Michael Susin

Sareum Holdings PLC said on Monday that GSK PLC has completes the acquisition of Sierra Oncology for US$1.9 billion in cash and therefore will own Sareum's cancer treatment SRA737 license.

The U.K. drug-development company said that Sareum is eligible to receive a 27.5% share of any future milestone payments, and royalties on future sales under an amended $299 million licensing deal between Sierra and CRT Pioneer Fund LP in 2020.

The SRA737 is an oral treatment currently in clinical stage which targets cancer-cell replication and DNA-damage repair mechanisms.

"The dosing of the first patient with SRA737 in any new clinical trial would result in a $2.0 million payment from Sierra (now GSK), with 27.5% of this due to Sareum," it added.

Write to Michael Susin at [e-mail]

(END) Dow Jones Newswires

07-04-22 0239ET