27 October 2009
SAREUM HOLDINGS PLC
(“Sareum” or the “Company”)
FINAL RESULTS FOR THE YEAR ENDED 30 JUNE 2009
Sareum (AIM: SAR), the specialist cancer drug discovery business, is pleased to announce its final results for the year ended 30 June 2009.
Operational highlights:
Financial highlights:
Post year end highlights:
Dr Paul Harper, Chairman of Sareum, said: “The Company now focuses all its research resources on its pipeline of anti-cancer programmes. We have established a world-wide network of quality research providers and progress on the programmes is on-track and in-line with their budgets.
The strategic review of the business, completed at the beginning of this period, resulted in the sale of Sareum’s service business and associated assets. In parallel with this review, the Company made major cost savings through staff reductions and closure of its laboratories.
We are actively talking to third parties who have shown interest in one or more of our oncology programmes. The most advanced of these is the Chk1 programme carried out in conjunction with the Institute of Cancer Research and Cancer Research Technologies Limited. This is a programme that attracts broad interest since it is focused upon potentiating the efficacy of a variety of marketed cancer chemotherapeutics, opening the possibility of better patient outcomes or of lower drug dosages to reduce toxicity.
The recent fund raisings will support increased investment in the development of our in-house programmes and satisfy our working capital requirements for the foreseeable future.”
Annual Results 2009 available as PDF document:Annual Results 2009
For further information please contact:
Sareum Holdings plc |
|
Tim Mitchell, Chief Executive Officer |
01223 497700 |
|
|
Merchant John East Securities Limited |
|
Simon Clements/Bidhi Bhoma |
020 7628 2200 |
|
|
Hybridan LLP |
|
Claire Noyce/Stephen Austin |
020 7947 4350 |