Business
Genentech Agreement
Genentech Agreement.
About this update from Sareum Holdings Plc
[{"type":"text","content":"\n Sareum Holdings PLC\n12 December 2007\n\n\n\nFor immediate release 12 December 2007\n \n\n\n SAREUM HOLDINGS PLC\n (\"Sareum\" or the \"Company\")\n\n Extension of Genentech Agreement\n\nSareum Holdings plc (AIM: SAR), the specialist structure-based drug discovery\nbusiness, is pleased to announce that it has extended its agreement with\nGenentech, Inc. for a further 6 months following its initial agreement announced\nin November 2006.\n\nUnder the terms of this agreement, Sareum will continue to apply its skills in\nhigh throughput protein expression, purification and structure determination on\ndrug discovery targets designated by Genentech.\n\nIn return, Sareum will receive research fees and may receive specific\nsuccess-dependent milestone payments. Financial terms of the agreement were not\ndisclosed.\n\nCommenting on the agreement, Sareum's Chief Executive Officer, Dr Tim Mitchell,\nsaid: \"Successfully delivering on relationships with leading companies such as\nGenentech is a key component of our business strategy and an outstanding\nvalidation of Sareum's technology and expertise. We are very pleased to have\nsupported Genentech's programs over the last 12 months, and look forward to\ncontinuing this important relationship.\"\n\nFor further information:\n\nSareum Holdings 01223 497700\n\nTim Mitchell, Chief Executive Officer\n\nBuchanan Communications 020 7466 5000\n\nTim Anderson, Mary-Jane Johnson\n\nGrant Thornton Corporate Finance 020 7383 5100\n\nPhilip Secrett, Colin Aaronson\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. The Company was formed in August 2003 to discover new drugs\nfor the treatment of cancer. Sareum's unique approach aims to halve the time it\ntakes to discover new drug candidates.\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 their target protein\nassists greatly in the development of high-quality drug candidates. Determining\nstructure is a complex task and requires lead...