Business
Collaborative Agreement
Collaborative Agreement.
About this update from Sareum Holdings Plc
[{"type":"text","content":"\n Sareum Holdings PLC\n10 January 2006\n\n\nFor immediate release 10th January 2006\n\n\n\n SAREUM HOLDINGS PLC\n\n (\"Sareum\" or the \"Company\")\n\n HIV/AIDS Collaboration with Idenix Pharmaceuticals, Inc.\n\nSareum Holdings plc (AIM: SAR), the specialist structure-based drug discovery\nand services business, is pleased to announce that it has entered into a\ncollaborative agreement with Idenix Pharmaceuticals, Inc (Idenix). Idenix is\nbased in Cambridge, Mass, USA, and is engaged in the discovery and development\nof innovative anti-viral therapeutics.\n\nSareum will utilise its expertise and skills in high throughput protein\nexpression, purification and structure determination to provide support for\nIdenix's program to discover new drug candidates for the treatment of patients\nwith HIV/AIDS. Sareum will seek to illustrate the precise nature and manner in\nwhich Idenix's potential drug candidates interact with an HIV virus protein that\nis thought to be responsible for the development of viral resistance to many\ncurrently approved HIV/AIDS therapies.\n\nIn return, Sareum will receive research fees and success milestone payments, the\nmajority of which are expected to be recognized in the financial year to June\n2006. Financial terms of the agreement were not disclosed.\n\nThis announcement follows the trading update issued by Sareum on 5th January\n2006 where the Company stated that it had entered into several collaborations in\nlate December, one of which is Idenix.\n\nCommenting on the agreement, Sareum's Chief Executive Officer, Dr Tim Mitchell,\nsaid: \"We are delighted that Idenix has chosen Sareum as their partner for\nprotein structure determination. This collaboration, which is in an important\nnew area of medicine to Sareum, validates the flexibility of our technology\nplatform. Our track record in securing collaborations such as this demonstrates\nwe are a partner of choice for high-throughput protein structure determination.\"\n\n\nFor further information please contact:\n\nSareum Holdings 01223 497700\nTim Mitchell, Chief Executive Officer\n\nBuchanan Communications 020 7466 5000\nTim Anderson, Mary-Jane Johnson\n\nAbout Sareum Holdings plc\nSareum Holdings plc is a specialist structure based drug discovery and services\nbusiness headquartered in Cambridge, UK. The Company was formed in August 2003\nto discov...