26 September 2011

Sareum Holdings plc

(“Sareum” or “the Company”)

Final Results

 

Sareum Holdings plc (AIM: SAR), the specialist cancer drug discovery business, is pleased to announce its final results for the year ended 30 June 2011. 

 

Operational Highlights

 

  • Significant progress on the two most advanced cancer programmes including positive in-vivo efficacy data from Chk1 and Aurora+FLT3 programmes
  • Nomination of preclinical development candidate for Chk1 in August 2011

 

Financial Highlights

 

  • £950,000 (before expenses) raised by way of three share placings

 

  • Cash at bank and in hand of £871,000; sufficient cash resources for foreseeable future, based on current spending levels
  • Loss on ordinary activities (after taxation) £568,000 (2010: £569,000 loss) in line with expectations

 

Tim Mitchell, Chief Executive Officer of the Company, said: “The announcement of two successful in-vivo efficacy studies, and the selection of a preclinical development candidate, bring Sareum closer to the commercialisation of drug candidates from our in-house development pipeline.  We are currently actively seeking to license these programmes in order to allow us to drive forward other programmes that have been generated from our SKIL® platform.

The placings during the course of the year, which raised a total of £950,000, have provided us with sufficient working capital for the foreseeable future to continue the current level of development of our in-house programmes.”

 

Enquiries:

 

Sareum Holdings plc

 

Tim Mitchell

01223 497 700

Merchant Securities Limited (Nomad)

Simon Clements

020 7628 2200

Hybridan LLP (Broker)

 

Claire Noyce

020 7947 4350

The Communications Portfolio (Media enquiries)

Ariane Comstive / Caolan Mahon

ariane.comstive@communications-portfolio.co.uk 

+44 (0) 20 7536 2028 / 2029

 

 

Annual Results 2011 available as PDF document:Annual Results 2011