Business
Agreement with Genentech
Agreement with Genentech.
About this update from Sareum Holdings Plc
[{"type":"text","content":"\n Sareum Holdings PLC\n20 November 2006\n\n\nFor immediate release 20 November 2006\n\n\n\n SAREUM HOLDINGS PLC\n\n (\"Sareum\" or the \"Company\")\n\n Multi-Target Genentech Agreement\n\n\nSareum Holdings plc (AIM: SAR), the specialist structure-based drug discovery\nbusiness, is pleased to announce that it has entered into an initial 12-month\nmulti-target research services agreement with Genentech, Inc., a leading\nbiotechnology company.\n\nUnder the terms of this agreement, Sareum will apply its skills in high\nthroughput protein expression, purification and structure determination on\nmultiple drug discovery targets designated by Genentech.\n\nIn return, Sareum will receive research fees and may receive specific\nsuccess-dependent milestone payments, with a combined value in excess of $1.5\nmillion. The agreement also provides an option to extend the agreement for a\nfurther 12 months.\n\nCommenting on the agreement, Sareum's Chief Executive Officer, Dr Tim Mitchell,\nsaid: \"I am delighted that Genentech has chosen Sareum as a collaborator in\nprotein structure determination. I regard this multi-target collaboration as an\noutstanding validation of Sareum's technology and expertise.\"\n\nFor further information:\n\n\nSareum Contacts:\n\nSareum Holdings 01223 497700\nTim Mitchell, Chief Executive Officer\n\nBuchanan Communications 020 7466 5000\nTim Anderson, Mary-Jane Johnson, Simon Potter\n\n\n\nNotes for editors:\n\nAbout Sareum Holdings plc\n\nSareum Holdings plc is a structure-based drug discovery business headquartered\nin Cambridge, UK. Sareum Limited was formed in August 2003 to discover new drugs\nfor the treatment of cancer and to provide a range of drug discovery services to\nthe pharmaceutical industry. Sareum's unique approach aims to halve the time it\ntakes to discover new drug candidates.\n\n\n\nA structure-based approach to drug discovery relies on knowledge of the\nthree-dimensional structure of the proteins that cause disease. Once the\nstructure is known, potential drugs are designed to 'lock-in' to the protein\nwith the aim of reversing or arresting a disease's progression. Knowledge of the\nstructure of the potential drugs and how they 'lock-in' to the protein permits\nthe best potential drug to be discovered. Determining structure is a complex\ntask and requires leading-edge equipment and experienced...