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Sareum awarded UK government grant for potential Covid-19 treatment
StockMarketWire.com
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Smaller molecule therapeutics developer Sareum said it had won conditional approval from the UK government for a grant worth around £174,000 to investigate the potential of a treatment for severe Covid-19.
The treatment was SDC-1801, the company's selective, small molecule TYK2/JAK1 kinase inhibitor.
The grant was subject to a standard financial review of the company and the submission of additional documentation, which had been provided to UK Research & Innovation.
Sareum had agreed to contribute around £64,000 in cash and commit additional management time to the project, which was expected to take about six months to complete.
At 1:54pm: (LON:SAR) Sareum Holdings PLC share price was +0.13p at 2.35p
Story provided by StockMarketWire.com
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