18 February 2013

SAREUM HOLDINGS PLC

(“Sareum” or “the Company”)

HALF-YEARLY RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2012

Sareum (AIM: SAR), the specialist cancer drug discovery business, is pleased to announce its half-yearly results for the six month period ended 31 December 2012.

Financial highlights

  • Cash at bank at period end was £380,000 (2011: £530,000)
  • £4M SEDA financing facility from YA Global Master SPV Ltd and  initial drawdown of £200,000
  • Loss on ordinary activities (after taxation) of £269,000 (2011: Loss of £327,000)

Operational highlights

  • Research and commercialisation of programmes making good progress
  • Favourable ongoing safety studies with Chk1 pre-clinical development candidate
  • US Patent grant notification for SKIL® compounds received post period in February 2013

Dr Tim Mitchell, CEO of Sareum Holdings plc, said: “We are pleased with progress and our confidence in our ability to exploit our research programmes commercially remains high. A key commercial goal remains to enter into profitable licensing arrangements but only when they represent a good return for shareholders. We continue to take in-house programmes forward by building more comprehensive pre-clinical dossiers and as appropriate moving forward into pre-clinical toxicology studies and ultimately Phase I clinical trials.”

 

Sareum Holdings plc

 

Tim Mitchell, Chief Executive Officer

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
philip.ranger@communications-portfolio.co.uk

 

020 7536 2028 / 2029

The full report is avaialble as a pdf document: Financial Results for the Six Months Ended 31/12/12