Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Sareum Holdings PLC raises funds

The proceeds will be used to advance the company drug development programme
Cash
The company has raised £1.1mln

Cancer drug discovery and development firm Sareum Holdings Plc (LON:SAR) has raised around £1.1mln by placing shares at 0.7p each.

The proceeds will be used to advance the company drug development programme, and for general working purposes.

After issuing 157.8mln shares, the company now has 2.65bn shares in issue.

Hybridan, joint-broker to the company, said Sareum is “now in an even stronger place going forward” as their lead product Checkpoint Kinase 1 is due to begin Phase I trials by H1 2016. 

“We believe the monies raised will put the company in a better position when they talk to potential licensing partners whilst at the same time enable them to rapidly develop their other pre-clinical programmes,” Hybridan said.

Sareum shares closed at a mid-market price of 0.815p last night; as usually happens when share issues announced, the share price has moved towards the issue price, with Sareum shares trading at 0.618p in the lunchtime trading session.

John-H.jpg
Why Invest In Sareum Holdings Plc? Read More Here

Register here to be notified of future SAR Company articles
View full SAR profile

Sareum Holdings Plc Timeline

Related Articles

1-SG02055.jpg
March 22 2016
e-Therapeutics is now targeting partners to accelerate the development of its drug discovery engine and commercialise compounds.
World map made out of drugs
November 07 2016
The pharma services and drug development group has hit key milestones in the last year.
shutterstock_327930536.jpg
December 02 2016
Life sciences firm ValiRx is poised for a busy year ahead as it progresses its lead drugs...

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.