Shares in drug discovery company Sareum have soared by 36 per cent after the firm announced the selection of a preclinical development candidate for its Checkpoint kinase 1 (Chk1) inhibitor programme.
Chk1 is an enzyme that controls a cancer cell's response to DNA damage, either caused by the disease itself or by the treatment; chemotherapy or radiotherapy.
Preclinical studies have shown that when Chk1 is taken in combination with chemotherapeutic drugs, it reduces cancer growth rates compared to treatment with the same dose of chemotherapeutic without the Chk1 inhibitor.
Now the Cambridge-based company are working with the Institute of Cancer Research (ICR) and Cancer Research UK’s commercial arm, and Cancer Research Technology Limited (CRT).
Shares have been hiked from 0.46 pence (36 per cent) to 1.71 pence.
Sareum chief executive, Tim Mitchell, said: “The selection of a preclinical development candidate is a major milestone for the collaboration that will significantly enhance the licensing package.
“Our research indicates that the selectivity and oral dosing properties of this candidate give it a competitive advantage.”