Sareum Holdings plc (AIM: SAR), the specialist structure-based drug discovery and services business, is pleased to announce that it has entered into a collaborative agreement with Schering AG, Germany (FSE: SCH, NYSE: SHR), a global research-based pharmaceutical company with sales in excess of $6 Billion in 2004. The aim of the collaboration is for Sareum to provide protein structure determination capabilities to accelerate drug discovery research at Schering.
Sareum will utilise its expertise in high throughput protein expression, purification and structure determination to demonstrate how Schering's potential drug candidates interact with their target protein receptor. In return, Sareum will receive research fees and success milestone payments.
Financial terms of the agreement were not disclosed.
Commenting on the agreement, Sareum's Chief Executive Officer, Dr Tim Mitchell, said: "We are delighted that Schering has chosen Sareum as their partner in protein structure determination. This is a further important collaboration that Sareum has signed with a major international pharmaceutical company. Revenues generated in collaborations such as this are valuable sources of financial support for our in-house cancer research programs. We look forward to successful delivery of this project to Schering and to closing additional partnerships such as this."
For further information:
Sareum Holdings 01223 497700
Tim Mitchell, Chief Executive Officer
Buchanan Communications 020 7466 5000
Tim Anderson, Mary-Jane Johnson
Notes for editors:
About Sareum Holdings plc
Sareum Holdings plc is a specialist 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 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 template-molecule x-ray screening technology to identify new chemical entities designed to interact with the target protein. Sareum then uses its high-throughput medicinal chemistry platform to rapidly synthesise further molecules and develop the most promising into potential drug candidates.
Sareum provides its specialist drug discovery capabilities to partners in the pharmaceutical and biotechnology industries. The Company aims to successfully deliver: Programmes for complete gene-to-candidate structure-based discovery; projects to accelerate or improve the productivity of specific activities; and drug candidates for licensing at the Phase I or Phase II clinical trials stage.
Sareum joined the AIM market of the London Stock Exchange in October 2004 and trades under the symbol SAR. For further information, please visit www.sareum.co.uk