Business
USD5m Idenix Collaboration
USD5m Idenix Collaboration.
About this update from Sareum Holdings Plc
[{"type":"text","content":"\n Sareum Holdings PLC\n09 February 2006\n\n\nFor immediate release 9th February 2006\n\n\n\n SAREUM HOLDINGS PLC\n (\"Sareum\" or the \"Company\")\n\n\n $5Million Research Collaboration with Idenix Pharmaceuticals, Inc.\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 research agreement with Idenix Pharmaceuticals, Inc (Idenix) to\ndiscover novel hepatitis C compounds. Idenix is based in Cambridge, Mass, USA,\nand is engaged in the discovery, development and commercialization of innovative\nanti-viral therapeutics.\n\nThe aim of this collaboration, which is planned to run for approximately one\nyear, is to generate lead chemical series for development by Idenix into novel\ndrug therapies for hepatitis C virus infection. This is the second collaboration\nbetween Sareum and Idenix; the first collaboration relating to HIV was announced\non 10 January 2006.\n\nSareum will provide multi-disciplinary research teams to determine the\nthree-dimensional structures of two of Idenix's hepatitis C disease protein\ntargets and then deploy its innovative Template Screening method in an effort to\nidentify novel compounds suitable for optimisation into lead drug candidates,\nusing its automated medicinal chemistry platform.\n\nIn return, Sareum will receive research fees and milestone payments up to a\nvalue of approximately US$5 million, dependent on success, plus an additional\nmilestone payment if compounds from this collaboration advance to clinical\ndevelopment.\n\nCommenting on this announcement, Sareum's Chief Executive Officer, Dr Tim\nMitchell, said: \"We are delighted to have signed this agreement. We are very\npleased that Idenix have chosen Sareum for an additional collaboration. This\nprovides further validation of our capabilities and demonstrates that we are a\npartner of choice for structure-based lead generation and optimisation. We see\nthis as a significant advancement for Sareum.\"\n\nFor further information please contact:\n\nSareum Holdings +44 (0) 1223 497700\nTim Mitchell, Chief Executive Officer\n\nBuchanan Communications +44 (0) 20 7466 5000\nTim Anderson, Mary-Jane Johnson\n\n\nAbout Sareum Holdings plc\n\nSareum Holdings plc is a structure-based drug discovery business headquartered\nin Cambridge...