Sareum Holdings PLC
18 June 2007
18 June 2007
SAREUM HOLDINGS PLC
("Sareum" or the "Company")
Directorate Change
Sareum Holdings plc (AIM: SAR) announces that Edward Oliver has retired from the
Company and its Board of Directors with effect from June 30 2007.
The Company is also pleased to announce that Mr. Giorgio Reggiani has been
appointed as Finance Director and will immediately assume Mr. Oliver's
day-to-day responsibilities. Mr. Reggiani is not joining the Sareum Board of
Directors at this stage although it is anticipated that he will do so within
three months. A further announcement will be made as appropriate.
Mr. Reggiani is a Chartered Management Accountant with 17 years of senior
financial experience in companies including Esprit Capital Partners LLP, Vidus
Limited and Mobile Systems International plc.
Commenting on this announcement, Sareum's CEO, Dr Tim Mitchell, said: "On behalf
of the Board, I would like to thank Edward for his contribution to the
development of the Company over the past three years and wish him well for the
future. I am delighted to welcome Giorgio to the management team where his
extensive financial and commercial experience will be of great value to Sareum's
future growth and success."
For Further Information:
Sareum Holdings plc 01223 497700
Tim Mitchell, Chief Executive Officer
Buchanan Communications 020 7466 5000
Tim Anderson, Mary-Jane Johnson
Grant Thornton Corporate Finance 020 7383 5100
Philip Secrett, Colin Aaronson
Notes for editors:
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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