26 February 2014

SAREUM HOLDINGS PLC

(“Sareum” or “the Company”)

HALF-YEARLY RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2013

Sareum (AIM: SAR), the specialist cancer drug discovery and development business, is pleased to announce its half-yearly results for the six month period ended 31 December 2013.

Financial highlights

  • Cash at bank at period end was £1,598,000 (2012: £380,000)
  • Loss on ordinary activities (after taxation) of £350,000 (2012: Loss of £269,000)
  • Oversubscribed placing in December 2013 to raise £1,670,000 (before expenses)

Operational highlights

  • Co-development agreement with CPF and BACIT to advance CHK1
  • Pre-clinical development candidate selected for Aurora+FLT3
  • Co-development agreement with HMUBEC to advance Aurora+FLT3
  • Significant activity with TYK2 lead molecule in psoriasis disease models

Dr Tim Mitchell, CEO of Sareum Holdings plc, said: “The Company has made good progress having now secured co-development agreements for three of its lead programmes that will provide additional resources and expertise.  As a result of the recent oversubscribed Placing and the existing SEDA financing facility we are well positioned to advance our existing programmes and collaborations, and build our pipeline of new drugs.”

The full report is avaialble as a pdf document: Financial Results for the Six Months Ended 31/12/2013

Sareum Holdings plc

 

Tim Mitchell, Chief Executive Officer

01223 497 700

Sanlam Securities UK Limited (Nominated Adviser)

 

Simon Clements

020 7628 2200

Hybridan LLP (Broker)

 

Claire Noyce / William Lynne

020 7947 4350 / 4361

The Communications Portfolio (Media enquiries)

 

Ariane Comstive
Ariane.comstive@communications-portfolio.co.uk

020 7536 2028