Sareum Holdings PLC
16 November 2007
For immediate release 16 November 2007
Sareum Holdings plc
("Sareum" or "the Company")
Appointment of Dr Alastair Riddell as Non-Executive Director
Sareum Holdings plc (AIM: SAR), the specialist structure-based drug discovery
business, is pleased to announce the appointment of Dr Alastair Riddell as
Non-Executive Director with immediate effect.
Alastair James Riddell, aged 58, was previously Chief Executive Officer of
Paradigm Therapeutics Limited, the drug target discovery and development company
that was acquired by Takeda Pharmaceutical Company in March 2007.
He was also previously Chairman of Surface Therapeutics Limited, the drug
discovery and development company that has now been acquired by Serentis.
Prior to that Dr Riddell was the Chief Executive Officer of Pharmagene plc, the
drug discovery company, for seven years, where he raised £8.6 million in a
private placement in 1999 and £41.7 million at IPO in July 2000.
He has also held senior positions in international marketing, sales and general
management in Amersham International and Centocor. He also previously directed
the medical departments of Celltech and Centocor Europe.
Dr Riddell was Deputy Chairman of the BioIndustry Association (BIA) and was a
member of the executive board of the BIA for 3 years. Dr. Riddell was a
practising physician before entering the pharmaceutical industry over twenty
years ago.
The directors of Sareum believe that Dr. Riddell brings a wide range of industry
experience to the Company and consider him a valuable addition to the Board.
Commenting on this announcement, Sareum's Chairman, Dr Paul Harper, said: "I am
delighted to announce that Alastair has joined Sareum's Board. He is a seasoned
biotech entrepreneur with significant Board level experience and will be
instrumental in helping to steer the progress of Sareum."
Dr. Riddell has, in the previous five years, been a director of the following
companies:
Current directorships Previous directorships
none Surface Therapeutics Limited
Paradigm Therapeutics Limited
Pharmagene plc
Pharmagene Laboratories Trustees Limited
Pharmagene Therapeutics Limited
BioIndustry Association
The Company confirms there is no other information that falls to be disclosed
under Schedule 2 paragraph (g) of the AIM Rules.
For further information:
Sareum Holdings plc 01223 497700
Tim Mitchell, Chief Executive Officer
Buchanan Communications 020 7466 5000
Mary-Jane Johnson, Tim Anderson
Grant Thornton Corporate Finance 020 7383 5100
Philip Secrett, Colin Aaronson
About Sareum Holdings plc
Sareum Holdings plc is a structure-based drug discovery business headquartered
in Cambridge, UK. The Company was formed in August 2003 to discover new drugs
for the treatment of cancer. Sareum's unique approach aims to halve the time it
takes to discover new drug candidates.
A structure-based approach to drug discovery relies on knowledge of the
three-dimensional structure of the proteins that cause disease. Once the
structure is known, potential drugs are designed to 'lock-in' to the protein
with the aim of reversing or arresting a disease's progression. Knowledge of
the structure of the potential drugs and how they 'lock-in' to their target
protein assists greatly in the development of high-quality drug candidates.
Determining structure is a complex task and requires leading-edge equipment and
experienced staff. Sareum's approach to structure determination utilises its
proprietary protein expression platform in order to produce multiple recombinant
proteins that accelerate structure determination using x-ray crystallography.
Once the structure is determined, the Company's innovative fragment screening
platform is used to identify novel chemical templates designed to interact with
the target protein. Sareum then uses its high-throughput medicinal chemistry
platform to rapidly optimise these molecules and develop the most promising into
potential drug candidates.
Sareum aims to successfully deliver drug candidates for licensing to larger
pharmaceutical companies at the pre-clinical or early clinical trials stage.
This is funded by provision of its specialist drug discovery capabilities to
partners in the pharmaceutical and biotechnology industries.
Sareum joined the AIM market of the London Stock Exchange in October 2004 and
trades under the symbol SAR. For further information, please visit
www.sareum.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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