Business
Trading Update
Trading Update.
About this update from Sareum Holdings Plc
[{"type":"text","content":"\n Sareum Holdings PLC\n05 January 2006\n\n\nFor immediate release 5 January 2006\n\n\n\n SAREUM HOLDINGS PLC\n (\"Sareum\" or the \"Company\")\n\n\n TRADING UPDATE\n\n\nSareum Holdings plc (AIM: SAR), the specialist structure-based drug discovery\nand services business, is pleased to announce an update on trading for the six\nmonth period ended 31 December 2005. The Company expects to release its interim\nresults for the period before the end of February, 2006.\n\nThe Company is pleased to report that contracted sales, including pre-payments,\nfor the half year ended 31 December 2005 are ahead of the Board's expectations\nat £620,000. Of this amount, the Company expects to recognise revenues of circa.\n£350,000 during that period. Revenues for the year ended 30 June 2005 were\n£332,335.\n\nIn late December 2005 Sareum entered into collaborations with several\ninternational pharmaceutical and biotechnology companies, details of which will\nbe announced as soon as the necessary approvals are obtained. These deals are\nworth a minimum of £360,000, with a potential maximum value, depending on\nresults, in excess of £1,250,000 over the next 12 months.\n\nFor the second half of the year to 30 June 2006, the Board anticipates that\nsales will exceed those of the first half and moves the company closer to its\ngoal of fully funding its current in-house research programs from its sales\nrevenues.\n\nDr Tim Mitchell, CEO of Sareum Holdings plc, said: \"Sareum has enjoyed a\nproductive and successful period. In addition to trading ahead of Board\nexpectations, the Company hopes to announce new collaborations and the\nsuccessful completion of ongoing projects during the remainder of our financial\nyear.\"\n\n\nFor further information please contact:\n\n\nSareum Holdings plc 01223 497700\n\nTim Mitchell, Chief Executive Officer\nGrant Thornton 020 7383 5100\n\nColin Aaronson\n\nBuchanan Communications 020 7466 5000\n\nTim Anderson, Mark Court, Mary-Jane Johnson\n\n\n\n\nNotes for Editors\n\nAbout Sareum Holdings plc\n\nSareum Holdings plc is a specialist structure based drug discovery and services\nbusiness headquartered in Cambridge, UK. The Company was formed in August 2003\nto discover new drugs for the treatment of cancer and to provide a range of drug\ndiscovery services to the pharmaceutical industry. Sareum's unique approach aim...