Sareum Holdings PLC Placing (4679W)

TIDMSAR

RNS Number : 4679W

Sareum Holdings PLC

14 November 2017

 
 (AIM: SAR)   14 November 2017 
 

Sareum Holdings plc

("Sareum" or "the Company")

Placing

Sareum Holdings plc (AIM: SAR), the specialist cancer drug discovery and development business, announces that it has raised GBP700,000, before expenses, through a placement via Hybridan LLP as agent of the Company, of 100,000,000 new ordinary shares of 0.025p each in the capital of the Company (the "Placing Shares") at 0.7p per share.

The net proceeds of the placing will be used to progress the Company's drug development programmes as well as for working capital purposes.

Application has been made for the Placing Shares, which will rank pari passu with the Company's existing Ordinary Shares, to be admitted to trading on London Stock Exchange AIM ("Admission"). It is anticipated that Admission will become effective at 8.00 am on 22 November 2017.

Following the admission of the Placing Shares to trading on AIM, the Company will have a total of 2,745,223,988 shares in issue. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in the Company under the FCA's Disclosure and Transparency Rules.

For further information, please contact:

 
Sareum Holdings plc 
Tim Mitchell                           01223 497 700 
WH Ireland Limited (Nominated Adviser and 
 Co-Broker) 
Chris Fielding / James Sinclair-Ford   020 7220 1666 
Hybridan LLP (Co-Broker) 
Claire Noyce                           020 3764 2341 
Citigate Dewe Rogerson (Media 
 enquiries) 
Shabnam Bashir/ Mark Swallow/ 
 David Dible                           020 7282 9571 
 Shabnam Bashir/ Mark Swallow/ 
  David Dible                           020 7282 9571 
 

Notes for editors:

Sareum is a specialist drug discovery and development company delivering targeted small molecule therapeutics, focusing on cancer and autoimmune disease, and generating value through licensing them to international pharmaceutical and biotechnology companies at the preclinical or early clinical trials stage.

Its most advanced programme, SRA737, is a novel Checkpoint kinase 1 (Chk1) inhibitor licensed to NASDAQ-listed Sierra Oncology and in clinical trials targeting a range of advanced cancers. The key role of Chk1 in cancer cell replication and DNA damage repair suggests that SRA737 may have broad application as a targeted therapy in combination with other oncology and immune-oncology drugs in genetically defined patients.

Sareum is also advancing programmes to develop novel tyrosine kinase 2 (TYK2) inhibitors in autoimmune diseases and cancers, and Aurora+FLT3 inhibitors in haematological cancers, which are in the IND-enabling preclinical and lead optimisation stages.

The Company's drug discovery technology platform (SKIL(R) - Sareum Kinase Inhibitor Library) is being applied to generate drug research programmes against other kinase targets.

Sareum Holdings plc is listed on the AIM market of the London Stock Exchange, trading under the ticker SAR. For further information, please visit www.sareum.co.uk

- Ends -

This information is provided by RNS

The company news service from the London Stock Exchange

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November 14, 2017 07:05 ET (12:05 GMT)