The likelihood that specialist cancer drug discovery business Sareum will conclude a deal to commercialise a research programme this year has fallen, according to an announcement made ahead of its annual general meeting on Wednesday morning.
During the AGM, Dr. Paul Harper, the company's Chairman, is expected to say: "Sareum has made good progress during the year in a number of key areas and we continue to focus on commercialising our research programmes to fund the future growth of the company.
"Although collaboration and licensing discussions around a number of programmes continue, it has become increasingly apparent that the opportunity of concluding such a deal before the calendar year-end is now less likely than the board had previously anticipated.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"However, the board remains confident that a commercial deal with one or more of its programmes will be concluded. We remain focused on maximising the opportunities for commercial exploitation however they arise."
Dr Harper added: "The addition of the £4m SEDA financing facility, from which the first tranche of funding was drawn down last week, gives us considerable flexibility in funding further development work, as well as putting us in a strong position to negotiate with collaborators and possible partners."
Sareum's share price was down 20.29% to 1.38p at 09:56 on Wednesday morning.
MF
-
UK-US trade deal announced: US cuts tariffs on UK car imports to 10%Keir Starmer and Donald Trump have announced a UK-US trade deal, but the US president has refused to lift baseline tariffs on most UK goods. What does it mean for the UK?
-
How to use mid-caps to diversify from the USMedium sized companies are overlooked by investors but could offer an attractive ‘sweet spot’. We consider the case for mid-caps amid market volatility.
