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:

Annual Results 2011 available as PDF document:Annual Results 2011