Business
New Investment in Sareum
New Investment in Sareum.
About this update from Sareum Holdings Plc
[{"type":"text","content":"\n Sareum Holdings PLC\n08 January 2007\n\n\nFor immediate release 8 January 2007\n\n\n\n\n SAREUM HOLDINGS PLC\n\n (\"Sareum\" or \"the Company\")\n\n New Investment in Sareum\n\nSareum Holdings plc (AIM: SAR), the specialist structure-based drug discovery\nbusiness, is pleased to announce that it has issued 47,058,824 ordinary shares\nof 0.025p to Mr and Mrs Leonard Licht at a price of 0.85p per share. As a\nresult, Mr and Mrs Licht between them hold 10.23% of the Company's enlarged\nissued share capital.\n\nMr Leonard Licht is the Chairman of Hg Capital, a former founding director and\nVice Chairman of Mercury Asset Management and previous Deputy Chairman of\nJupiter Tyndall Group.\n\nThe funds raised from this share issue will be used to provide extra working\ncapital and for the purchase of specific capital items for the expanding\nbusiness.\n\nApplication has been made for the admission of these shares to trading on AIM\nwith admission expected to take place on 11 January 2007.\n\nCommenting on the announcement, Sareum's Chief Executive Officer, Dr Tim\nMitchell said: \"This significant investment by an experienced investor as Mr\nLicht is a positive endorsement of the long term potential value of Sareum's\ndrug discovery business.\"\n\nCommenting on the announcement, Mr Leonard Licht said: \"As an experienced\ninvestor, I believe Sareum to be well positioned to continue their excellent\nprogress and ultimately occupy an important place in the Pharmaceutical and\nBiotechnology sector.\"\n\n\n\nFor further information:\n\n\nSareum Contacts:\n\nSareum Holdings 01223 497700\n\nTim Mitchell, Chief Executive Officer\n\nBuchanan Communications 020 7466 5000\n\nTim Anderson, Mary-Jane Johnson\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. 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\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\nth...