Business
H.Lundbeck A/S Collaboration
H.Lundbeck A/S Collaboration.
About this update from Sareum Holdings Plc
[{"type":"text","content":"\n Sareum Holdings PLC\n19 January 2006\n\n\nFor immediate release 19 January 2006\n\n SAREUM HOLDINGS PLC\n (\"Sareum\" or the \"Company\")\n\n Sareum Announces Collaboration with Top 50 Pharma* - H. Lundbeck A/S\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 H. Lundbeck A/S (Copenhagen: LUN), an international\npharmaceutical company with sales of approx. €1.3 Billion in 2004, to provide\nprotein structure determination capabilities to accelerate drug discovery\nresearch at Lundbeck. Sareum will apply its skills in high throughput protein\nexpression, purification and structure determination to explain the exact nature\nof the interaction of Lundbeck's potential drug candidates with their target\nprotein receptor.\n\nThis information is invaluable in helping Lundbeck's scientists to develop new\nand improved therapeutics to help patients suffering from neurological\nconditions such as Alzheimer's disease, one of Lundbeck's key drug discovery\nfocus areas.\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 is the third announcement relating to the trading update issued by Sareum\non 5th January 2006 where Sareum stated that it had entered into several\ncollaborations in late December, one of which is with Lundbeck.\n\nCommenting on the agreement, Sareum's Chief Executive Officer, Dr Tim Mitchell,\nsaid: \"We are very pleased that Lundbeck has selected to work with Sareum as\ntheir partner in protein structure determination. This is a further important\ncollaboration that Sareum has entered into with another top 50 international\npharmaceutical company, and we look forward to successful delivery of this\nproject to Lundbeck.\"\n\nCommenting on the agreement, Lundbeck's Vice President of Research, Dr. Peter\nHongaard Andersen, said: \"Structure based drug design is an important aspect in\nmodern drug discovery strategies and we expect this collaboration with Sareum\nwill enhance our Drug Discovery process. The partnership also further\nillustrates Lundbeck's commitment to accelerating the discovery of novel\ntherapie...