Sareum Holdings plc (AIM: SAR), the specialist structure-based drug discovery business, is pleased to announce that it has entered into a second collaborative agreement with H. Lundbeck A/S (Copenhagen: LUN), an international pharmaceutical company with sales of approx. €1.2 Billion in 2005, to provide protein structure determination capabilities to accelerate drug discovery research at Lundbeck.
Under the terms of this 12 month agreement, Sareum will apply its skills in high throughput protein expression, purification and structure determination to assist Lundbeck's scientists in developing new and improved therapeutics to help patients suffering from diseases of the central nervous system, Lundbeck's key drug discovery focus area.
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 very pleased that Lundbeck have chosen to broaden their collaboration with Sareum. Developing longer term relationships with important customers such as Lundbeck is a key component of our business strategy and further evidence of our success in being a partner of choice for structure-based drug discovery."
Commenting on the agreement, Lundbeck's Vice President of Research DK, Dr. Klaus Peter Bøgesø, said "Structure-based drug design is an important part of a modern drug discovery strategy, and we look forward to using this broadened collaboration with Sareum to enhance the success of our Drug Discovery process. The partnership also further illustrates Lundbeck's commitment to accelerating the discovery of novel therapies for patients suffering from neurological and psychiatric diseases."
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 structure-based drug discovery business headquartered in Cambridge, UK. Sareum Limited 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.
A structure-based approach to drug discovery relies on knowledge of the three-dimensional structure of the proteins that cause disease. Once the structure is known, potential drugs are designed to 'lock-in' to the protein with the aim of reversing or arresting a disease's progression. Knowledge of the structure of the potential drugs and how they 'lock-in' to the protein permits the best potential drug to be discovered. Determining structure is a complex task and requires leading-edge equipment and experienced staff. Sareum's approach to structure determination is to produce multiple recombinant proteins primarily through a baculovirus expression system and to determine their structure using x-ray crystallography.
When the structure is determined, the Company's innovative Template Screening platform is used to identify novel chemical starting material designed to interact with the target protein. Sareum then uses its high-throughput medicinal chemistry platform to rapidly optimise these 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