Sareum Holdings plc (AIM: SAR), the structure-based drug discovery and services business, is pleased to announce that Cancer Research Technology Limited (CRT), the oncology focused technology transfer and development company, have extended their collaborative agreement with Sareum for a further 6 months.
On 6 December 2004 Sareum announced that it had agreed to provide, on a fee-for-service basis, computational chemistry expertise to support several of CRT's therapeutic discovery programmes in cancer. The original agreement was signed for 6 months and financial terms of the agreement were not disclosed.
Under the same terms of the agreement, Sareum will provide computational chemistry expertise to CRT's therapeutic discovery programmes in cancer for a further six months.
Commenting on the announcement, Sareum's Vice President of Chemistry, Dr John Reader, said: "We are delighted that Cancer Research Technology have decided to continue accessing our computational chemistry expertise. We seek to deliver high quality research services to our partners, and building and maintaining these relationships is of great importance to us."
CRT's Head of Medicinal Chemistry, Dr Tony Raynham, commented: "The success of Sareum's structure based capabilities in accelerating CRT's drug discovery programmes has led us to extend our existing partnership."
For further information please contact:
Sareum Holdings +44 (0) 1223 497700
Tim Mitchell, Chief Executive Officer
Cancer Research Technology Limited 0207 679 6728
Tony Raynham, Head of Medicinal Chemistry
Buchanan Communications +44 (0) 20 7466 5000
Mark Court, Mary-Jane Johnson
Notes for editors:
About Sareum Holdings plc
Sareum Holdings plc is a structure based drug discovery business headquartered in Cambridge, UK. The Company was formed in August 2003 to discover new drugs for the treatment of cancer and inflammation and to provide a range of drug discovery services to the pharmaceutical industry. Sareum's unique approach aims to halve the time it takes to discover new drug candidates.
Structure-based drug discovery involves the determination of a disease causing protein's three-dimensional structure. Once the structure is known, novel chemical entities are designed to 'lock-in' to the protein with the aim of reversing or arresting a disease's progression.
Sareum's approach to structure based drug discovery is to produce multiple recombinant proteins primarily through a baculovirus expression system; determine their structure using x-ray crystallography; and then use the Company's computational chemistry expertise to create virtual, focused libraries of new chemical entities designed to interact with the target protein. Sareum then uses its high-throughput medicinal chemistry platform to rapidly synthesise these molecules and develop the most promising into potential drug candidates.
Sareum offers its accelerated drug discovery capabilities on a fee basis to the pharmaceutical and biotechnology industries and has recently signed collaborative agreements with Inpharmatica Ltd. and Millennium Pharmaceuticals, Inc. Sareum also intends to license out any internally generated drug candidates at the Phase I or Phase II clinical trials stage.
Sareum joined the Alternative Investment Market of the London Stock Exchange in October 2004.
About Cancer Research Technology Limited.
Cancer Research Technology Limited (CRT) is a specialist technology transfer company which aims to develop new discoveries in cancer research for the benefit of cancer patients. CRT works closely with leading international cancer scientists and their institutes to protect intellectual property arising from their research and to establish links with commercial partners. CRT facilitates the discovery, development and marketing of new cancer therapeutics, vaccines, diagnostics and enabling technologies. CRT is wholly owned by Cancer Research UK, the largest independent funder of cancer research in the world. Further information about CRT can be found at www.cancertechnology.com
Cancer Research UK is Europe's leading cancer charity, dedicated to research into the causes, prevention and treatment of cancer. The charity supports the work of 3,000 scientists, doctors and nurses in over 80 academic centers across the UK, with an annual scientific spend of more than £213 million. Further information about Cancer Research UK can be found at www.cancerresearchuk.org