Business
Success with Schering AG
Success with Schering AG.
About this update from Sareum Holdings Plc
[{"type":"text","content":"\n Sareum Holdings PLC\n08 June 2006\n\n\nFor immediate release 8 June 2006\n\n\n\n SAREUM HOLDINGS PLC\n\n (\"Sareum\" or the \"Company\")\n\n\n\n Success Milestones Reached in Collaboration with Schering AG\n\nSareum Holdings plc (AIM: SAR), the specialist structure-based drug discovery\nbusiness, is pleased to announce the achievement of key success milestones in\nits collaboration with Schering AG (FSE: SCH, NYSE: SHR).\n\nIn this collaboration, first announced in October 2005, Sareum has succeeded in\nusing X-ray crystallography to determine, on schedule, the three-dimensional\nstructure of one of Schering's drug discovery research targets. To the best of\nour knowledge, Sareum is the only organization to have successfully determined\nthe structure of this target. As a result of this achievement, Sareum has\nreceived success milestone payments. Sareum will continue to provide structure\ninformation to support Schering's drug discovery research on this target in\nreturn for further success milestone payments.\n\nFinancial terms of the agreement were not disclosed.\n\nCommenting on the agreement, Sareum's Chief Executive Officer, Dr Tim Mitchell,\nsaid: \"We are extremely pleased to have achieved these success milestones in\nthis important collaboration. The successful determination of this difficult and\npreviously un-solved protein structure further demonstrates our leading position\nin structure-based drug discovery research.\"\n\nFor further information:\n\n\nSareum Holdings 01223 497700\nTim Mitchell, Chief Executive Officer\n\nBuchanan Communications 020 7466 5000\nTim Anderson, Mary-Jane Johnson\n\n\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 th...