Sareum Holdings plc (AIM: SAR), the specialist structure-based drug discovery and services business, is pleased to announce its results for the twelve month period ended 30 June 2005.

  • Financial highlights:
              - Successful flotation on AIM, raising £1.75M net.
              - Revenues of £332,335 (2004: £21,050)
              - Cash position over £100,000 better than budget
  • Business highlights:
              - First in-house drug discovery collaboration announced
              - Four revenue generating collaborations announced
              - World-wide business development established
  • Post year end highlights:
              - Additional in-house drug discovery collaboration signed
              - Continued success in generating new business
              - "Crystal Bank" protein structure resource launched

     

     

    Dr Paul Harper, Chairman of Sareum Holdings plc, said: "Sareum has enjoyed a productive and successful first year. The Company and its management has made great progress and has matched the strategy and budget set out to date. The Board envisages strong growth in both research activities and the generation of revenues for the year ahead. The Board and the entire Sareum team remains dedicated to generating shareholder value. The Sareum directors continue to work to develop the Company's structure-based drug discovery and services business and remain confident about its future prospects."

    For further information:

    Sareum Holdings 01223 497700
    Tim Mitchell, Chief Executive Officer

    Buchanan Communications 020 7466 5000
    Tim Anderson, Mark Court, Mary-Jane Johnson

    Annual results 2005 available as PDF document: Annual Results 2005