Business
Three Repeat Business Agreeme
Three Repeat Business Agreeme.
About this update from Sareum Holdings Plc
[{"type":"text","content":"\n RNS Number : 4472X Sareum Holdings PLC 25 June 2008 \n \n\n\n\n\nFor immediate release \n\n\n25 June 2008\n\n\n\n\n\nSAREUM HOLDINGS PLC\n(\"Sareum\" or the \"Company\")\n\nThree Repeat Business Agreements Signed\n\nSareum Holdings plc (AIM: SAR), the specialist structure-based drug discovery business, is pleased to announce that it has secured three repeat business agreements with existing collaboration partners. \n\nUnder the terms of these agreements, Sareum will continue to apply its skills in high throughput protein structure determination to aid its collaboration partners in the development of new and improved therapeutics. In return, Sareum will receive undisclosed research fees and success-dependent milestone payments. \n\nWhilst the Sareum directors are pleased to be announcing these agreements, they believe, as stated on 19 June, that the Company needs to undertake a strategic transaction and would need to effect a fundraising to enable it to complete such a transaction. The Directors continue to work towards this goal and a further announcement will be made in due course.\nCommenting on this announcement, Sareum's Chief Executive Officer, Dr Tim Mitchell, said: \"I am pleased to be announcing such positive news and three pieces of new business. This success in generating repeat fee for service business, whilst we seek to implement our previously announced strategic review, continues to demonstrate the commitment of our customers and the professionalism of our scientists.\"\nFor further information: \n\n\n\n\n\nSareum Holdings\n\n\n01223 497700\n\n\n\n\nTim Mitchell, Chief Executive Officer\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBuchanan Communications\n\n\n020 7466 5000\n\n\n\n\nTim Anderson, Mary-Jane Johnson \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nGrant Thornton Corporate Finance\n\n\n020 7383 5100\n\n\n\n\nPhilip Secrett, Colin Aaronson\n\n\n\n\n\n\n\n\nNotes for editors:\nAbout Sareum Holdings plc\nSareum Holdings plc is a structure-based drug discovery business headquartered in Cambridge, UK. The Company was formed in August 2003 to discover new drugs for the treatment of cancer. Sareum's un...