Sign In
NewsRadar

Search Press
Looking for press releases of a particular company? Enter company name (or keyword) here.

   


RESULTS FOR THE TWELVE MONTHS ENDED 30 JUNE 2006
Revenues increased 440%, Loss reduced by 50%


Sareum Holdings plc (AIM: SAR), the specialist structure-based drug discovery business, is pleased to announce its results for the twelve month period ended 30 June 2006.

• Financial highlights:
– Revenues increased 440% to £1.5M (2005: £0.3M)
– Loss on ordinary activities for period (after taxation) reduced 50% to £0.6M (2005: £1.2M)
– Loss on ordinary activities Jan-June 2006 (after taxation) reduced 96% to £22,000 (2005: £631,000)
– Exercise of £500,000 Put and Call option
– Cash in bank increased 20% to £528,000 (2005: £441,000)

• Business highlights:
– Major in-house drug discovery collaboration announced with the Institute of Cancer Research and Cancer Research Technologies Ltd
– Ten revenue generating collaborations announced, the largest of which is worth up to $5M
– “Crystal Bank” protein structure resource launched

• Post year end highlights:
– Substantial progress with in-house drug discovery collaboration with the Institute of Cancer Research and Cancer Research Technologies Ltd.
– Repeat business with Almirall and Lundbeck

Dr Paul Harper, Chairman of Sareum Holdings plc, said: “Sareum has enjoyed a particularly productive and successful second full year of trading. The Company and its management have made great progress, with financial performance being close to market expectations. The Board envisages strong growth in both research activities and the generation of revenues for the year ahead.

The Board and the entire Sareum team remains dedicated to generating shareholder value. The Sareum directors continue to work to develop the Company's in-house structure-based cancer drug discovery and development pipeline and remain confident about its future prospects.”


For further information please contact:

Sareum Holdings plc 01223 497700
Tim Mitchell, Chief Executive Officer
Buchanan Communications 020 7466 5000
Tim Anderson, Mary-Jane Johnson

Results for the twelve months ended 31 June 2005


Chairman’s Statement

Sareum Holdings plc has enjoyed a successful second financial year of trading. Our in-house drug discovery activity has made excellent progress, generating active compounds that we believe will ultimately lead to a candidate for pre-clinical development. The fee for service business has been strong with, particularly in the second half of the financial year, a series of collaborations with leading pharmaceutical companies.

Our in-house drug discovery was significantly enhanced by the announcement in July 2005 that the Company had established a joint research team with Cancer Research Technology Ltd. and the Cancer Research UK Centre for Cancer Therapeutics at the Institute of Cancer Research, to develop cancer treatments that are effective against tumours that are resistant to traditional therapeutics. The Institute of Cancer Research is one of the world’s leading cancer research organisations and thus a prestigious partner for Sareum’s in-house research, and this collaboration continues to progress on-track. We are currently working on a number of cancer targets for our in-house programmes in addition to the joint venture activities. If all goes to plan we aim to have a candidate molecule ready to enter pre-clinical development by this time next year.

Sareum continued making good progress in obtaining revenue-generating service collaborations, with the announcement of ten agreements, including top-50 global pharmaceutical companies such as Schering AG, Organon, UCB and Lundbeck.

Notable agreements included a total of three integrated Structural Biology, Fragment Screening and Discovery Chemistry projects, with Organon and Idenix Pharmaceuticals, announced in January and February 2006. The two collaborative projects with Idenix have a combined success dependent value of up to $5Million.

In addition to Idenix, Sareum has established itself in the USA, announcing collaborations with Infinity Pharmaceuticals in September 2005 and Sirtri


Publisher Contact Information:

Sareum Holdings plc
01223 497 700
info@sareum.co.uk

Company profile of Sareum Holdings plc
Past press releases of Sareum Holdings plc.

Data


27,722
Tech investments
From our Online Data Service
17,881
VC-backed companies
From our Radar


Recent Deals


DATEAMOUNTSECTOR
Dec 21€50.0MKnowledge management
Dec 20€16.0MSemiconductors
Dec 17€18.0MOther Computers & Electronics
Dec 17€5.2MBiotechnology
Dec 17€17.0MBusiness applications
Dec 15€17.0ME-Commerce
Dec 4€3.3MNanotechnology

For information on Europe's most extensive database on technology funding click here!

Events



Press Releases


Sep 30
TetaVi
tetavi raises $6 million to help more companies bring 3d holograms ...

May 28
Identiq
identiq raises $5m seed, launches privacy-first identity validation...

Apr 29
Nethone
nethone raised over $1 million from innovation nest

Mar 31
CompPair
the fit allocates chf 100'000 to comppair technologies

Jan 29
Yumpingo
yumpingo raises $10m to transform guest experiences in restaurants





About usContact usLegal Information
Copyright © 1999-2019
Emerging Technology Research Europe Inc. All rights reserved.