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Sareum Announces Collaboration with Leading Biopharmaceutical Company Sareum Holdings plc (AIM: SAR), the structure-based drug discovery and services business admitted to AIM in October 2004, is pleased to announce that it has entered into a collaborative agreement with Millennium Pharmaceuticals, Inc. to generate chemical compound libraries to support drug discovery programmes at Millennium. Under the terms of the agreement, which is on a fee-for-service basis, Sareum will utilise its skills in computational chemistry, automated medicinal chemistry and high-throughput purification to design and synthesise a library of compounds for Millennium to screen against their drug targets. Financial terms were not disclosed. Commenting on the agreement, Sareum's Chief Executive Officer, Dr Tim Mitchell, said: "This is the second collaboration that the Company has announced since admission to AIM just six weeks ago and we are delighted that Millennium has chosen Sareum to provide these drug discovery services. This is a very exciting project and we look forward to a successful delivery." |
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