FINAL

3 October  2012
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 2012.

Operational Highlights

  • Significant progress on its drug research programmes including:

o    nomination of a pre-clinical development candidate from its Chk1 programme

o    positive in vivo results from its TYK2 programme

  • Presentations of research data at high profile international scientific and business conferences

Financial Highlights

  • £252,500 (before expenses) raised through two share placings
  • Cash at bank and in hand of £511,000 (2011: £871,000)
  • Loss on ordinary activities (after taxation) £651,000 (2011: £568,000 loss) in line with expectations and reflecting planned increase in R&D spend
  • Since the year-end, agreement on a £4m SEDA financing facility from Yorkville Associates (announced 10 September 2012)

Tim Mitchell, Chief Executive Officer of the Company, said: “We have made considerable progress during the year in a number of key areas including seeing positive in-vivo results for our TYK2 programme and the nomination of a development candidate for Chk1.

We continue to focus our efforts on commercialising our research programmes to fuel the future growth of the Company and I remain confident that these efforts will result in the conclusion of one such deal this calendar year.

The addition of the £4 million SEDA financing facility gives us considerable flexibility in funding further development work; hence Sareum is well positioned for the next stage in its corporate development.”

Enquiries:

Sareum Holdings plc

 

Tim Mitchell

01223 497 700

Merchant Securities Limited (Nomad)

Simon Clements

020 7628 2200

Hybridan LLP (Broker)

 

Claire Noyce / Deepak Reddy

020 7947 4350

The Communications Portfolio (Media enquiries)

 

Philip Ranger / Caolan Mahon

020 7536 2028 / 2029

philip.ranger@communications-portfolio.co.uk

 

 

Annual Results 2012 available as PDF document: Annual Results 2012