Sareum Holdings plc (AIM: SAR), the specialist structure-based drug discovery and services business, is pleased to announce its financial results for the six month period ended 31 December 2006.
Financial Highlights during period 1 July to 31 December 06:
Business Highlights during period 1 July to 31 December 06:
Post-period end highlights:
Dr Tim Mitchell, CEO of Sareum Holdings plc, said: "Sareum has enjoyed yet another productive and successful period. The Company has progressed its in-house drug discovery programmes in cancer significantly and achieved further revenue-generating collaborations with major international pharmaceutical companies. We look forward to expanding the business and to announcing further advances in our in-house cancer programs whilst meeting the market's financial expectations."
For further information please contact:
Sareum Holdings plc 01223 497700
Tim Mitchell, Chief Executive Officer
Buchanan Communications 020 7466 5000
Tim Anderson, Mary-Jane Johnson
The full report is available as a pdf document: Financial results for the six months ended 31/12/06
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