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ARM Innovation Hub
20 November, 2006 - 12:01 By Staff Reporter

Sareum wins one year research contract with biotech giant

Cambridge-based drug discovery firm, Sareum has entered into a one-year research agreement with a company credited as the founder of the biotech industry, Genentech.Sareum will receive up to £800k for the application of its high throughput protein expression, purification and structure determination technologies on a number of drug discovery targets decided by Genentech. The announcement prompted Sareum's share price to rise 18 per cent, to 0.98p.

Sareum is a structure-based drug discovery business, formed in 2003 by a team of founders formerly with Millennium Pharmaceuticals, to discover new drugs for the treatment of cancer and to provide a range of drug discovery services to the pharma industry.

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