Sareum Holdings plc (AIM: SAR), the specialist structure-based drug discovery business, is pleased to announce that Johnson & Johnson Pharmaceutical Research & Development, Division of Janssen Pharmaceutica N.V., (J&JPRD) has chosen to extend its collaborative agreement with Sareum for another six months, with an option for further extension.
Under the terms of the agreement, Sareum will apply its skills in high throughput protein structure determination to provide insight and expertise in developing new and improved therapeutics to help patients suffering from diseases of the central nervous system. In return, Sareum will receive research fees and success-dependent milestone payments. Financial terms of the agreement were not disclosed.
Commenting on the agreement, Sareum’s Chief Executive Officer, Dr Tim Mitchell, said: “We are very pleased to have supported J&JPRD’s programs over the last 12 months, and look forward to continuing this important relationship. The successful delivery on relationships with leading companies is a key component of our business strategy. ”
For further information:
Sareum Holdings 01223 497700
Tim Mitchell, Chief Executive Officer