Sareum Holdings plc (AIM: SAR), the specialist structure-based drug discovery business, is pleased to announce that, based on the success of the previous agreement announced in August 2006, H. Lundbeck A/S (Copenhagen: LUN) have chosen to extend their collaborative agreement with Sareum for a further 12 months.

Under the terms of this agreement, Sareum will continue to 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 to have successfully supported Lundbeck’s key drug discovery programs over the last 12 months, and look forward to continuing this successful relationship over the next year. Delivering on long 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.”

For further information:

Sareum Holdings

01223 497700

Tim Mitchell, Chief Executive Officer

 

 

 

Buchanan Communications

020 7466 5000

Tim Anderson, Mary-Jane Johnson

 

 

 

Grant Thornton Corporate Finance

020 7383 5100

Philip Secrett, Colin Aaronson

 

 

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.  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 their target protein assists greatly in the development of high-quality drug candidates.  Determining structure is a complex task and requires leading-edge equipment and experienced staff.  Sareum’s approach to structure determination utilises its proprietary protein expression platform in order to produce multiple recombinant proteins that accelerate structure determination using x-ray crystallography.

Once the structure is determined, the Company’s innovative fragment screening platform is used to identify novel chemical templates 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 aims to successfully deliver drug candidates for licensing to larger pharmaceutical companies at the pre-clinical or early clinical trials stage.  This is funded by provision of its specialist drug discovery capabilities to partners in the pharmaceutical and biotechnology industries.

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