Directorate Change

Sareum Holdings plc (AIM: SAR) announces that Edward Oliver has today retired from the Company and its Board of Directors with effect from June 30 2007.

The Company is also pleased to announce that Mr. Giorgio Reggiani has been appointed as Finance Director and will immediately assume Mr. Oliver’s day-to-day responsibilities. Mr. Reggiani is not joining the Sareum Board of Directors at this stage although it is anticipated that he will do so within three months. A further announcement will be made as appropriate.

Mr. Reggiani is a Chartered Management Accountant with 17 years of senior financial experience in companies including Esprit Capital Partners LLP, Vidus Limited and Mobile Systems International plc.

Commenting on this announcement, Sareum’s CEO, Dr Tim Mitchell, said: “On behalf of the Board, I would like to thank Edward for his contribution to the development of the Company over the past three years and wish him well for the future. I am delighted to welcome Giorgio to the management team where his extensive financial and commercial experience will be of great value to Sareum’s future growth and success.”

For Further Information:

 

Sareum Holdings plc

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