Sareum Holdings PLC
08 January 2007
For immediate release 8 January 2007
SAREUM HOLDINGS PLC
("Sareum" or "the Company")
New Investment in Sareum
Sareum Holdings plc (AIM: SAR), the specialist structure-based drug discovery
business, is pleased to announce that it has issued 47,058,824 ordinary shares
of 0.025p to Mr and Mrs Leonard Licht at a price of 0.85p per share. As a
result, Mr and Mrs Licht between them hold 10.23% of the Company's enlarged
issued share capital.
Mr Leonard Licht is the Chairman of Hg Capital, a former founding director and
Vice Chairman of Mercury Asset Management and previous Deputy Chairman of
Jupiter Tyndall Group.
The funds raised from this share issue will be used to provide extra working
capital and for the purchase of specific capital items for the expanding
business.
Application has been made for the admission of these shares to trading on AIM
with admission expected to take place on 11 January 2007.
Commenting on the announcement, Sareum's Chief Executive Officer, Dr Tim
Mitchell said: "This significant investment by an experienced investor as Mr
Licht is a positive endorsement of the long term potential value of Sareum's
drug discovery business."
Commenting on the announcement, Mr Leonard Licht said: "As an experienced
investor, I believe Sareum to be well positioned to continue their excellent
progress and ultimately occupy an important place in the Pharmaceutical and
Biotechnology sector."
For further information:
Sareum Contacts:
Sareum Holdings 01223 497700
Tim Mitchell, Chief Executive Officer
Buchanan Communications 020 7466 5000
Tim Anderson, Mary-Jane Johnson
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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