FINAL

10 OCTOBER 2013

Sareum Holdings plc

(“Sareum” or “the Company”)

Final Results

 

Sareum Holdings plc (AIM: SAR), the specialist cancer drug discovery and development business, is pleased to announce its final results for the year ended 30 June 2013.

Operational Highlights

 

  • Collaboration announced with SRI International for continued development of TYK2 programme
  • US patent grant for SKIL platform and compounds
  • TSB Biomedical Catalyst grant awarded to support continued development of Fatty Acid Synthase (FASN) programme

Financial Highlights

  • Loss on ordinary activities (after taxation) £539,000 (2012: £651,000) slightly ahead of market expectations
  • £4m SEDA financing facility arranged with YA Global Master SPV Ltd. Used to draw down £200,000 and £350,000 in December and March respectively
  • Cash at bank and in hand of £422,000 (2012: £511,000)

Post period-end highlights

  • Agreement with CRT Pioneer Fund and BACIT Ltd to advance CHK1 programme
  • Pre-clinical development candidate selected for Aurora+FLT3 programme

Tim Mitchell, Chief Executive Officer of the Company, said:  “The Company has matured considerably over the period, with real progress made in our key programmes. Our broadened approach of entering into collaborations where appropriate, allowing us to take advantage of the higher asset values associated with licensing later stage programmes, gives us greater flexibility in choosing the right deal for our programmes.”

 

“With two programmes now in pre-clinical development, we are expecting a busy period in the year ahead.”

Enquiries:

 

Sareum Holdings plc

 

Tim Mitchell

01223 497 700

Sanlam Securities UK Limited (Nomad)

Simon Clements

020 7628 2200

Hybridan LLP (Broker)

 

Claire Noyce / William Lynne

020 7947 4350 / 4361

The Communications Portfolio (Media enquiries)

 

Ariane Comstive

+44 (0) 20 7536 2028

ariane.comstive@communications-portfolio.co.uk

 

Annual Results 2013 available as PDF document:Annual Results 2013