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Small molecule drug developer Sareum posted a full-year loss as it continued to develop immunotherapies for autoimmune diseases and cancers.
Pre-tax losses for the year through June amounted to £1.68m, compared to losses of £1.72m.
'We are very pleased with the progress of our proprietary dual TYK2/JAK1 programmes,' chief executive Tim Mitchell said.
'We believe these offer a novel oral immunotherapy approach to addressing unmet needs in autoimmune diseases and cancer and that their mechanism is gaining increasing interest from the pharmaceutical industry.'
'In line with our business model, we continue to engage with potential partners with a view to securing commercial licences when they reach late preclinical or early clinical stages.'