Sareum raises £0.25m for cancer research programmes

Specialist cancer drug discovery business Sareum Holdings plc has conditionally raised £0.25m before expenses via a placing at 0.20p per share.

It says it will use the proceeds primarily to progress its cancer research programmes.

CEO Tim Mitchell said, 'This placing with an institutional investor leaves the company well funded for the foreseeable future and able to make further investments in its valuable pipeline of "best-in-class" cancer research programmes.'

Sareum said it was pleased with the quality of data that its research programmes had generated in 2010 and encouraged by the number of discussions currently in progress regarding their commercialisation.

Encouraging results had recently been generated in pre-clinical cancer models.

Story provided by StockMarketWire.com

13/12/2010