Sareum Holdings awarded grant for breast cancer chemical series

Cancer drug discovery business Sareum Holdings has been offered a grant from funding programme Biomedial Catalyst, which will provide financial support for the company's Fatty Acid Synthase (FASN) research programme.

Cancer drug discovery business Sareum Holdings has been offered a grant from funding programme Biomedial Catalyst, which will provide financial support for the company's Fatty Acid Synthase (FASN) research programme.

The £150,000 grant funding will enable Sareum to explore further the potential of its novel chemical series, which shows promising efficacy in breast cancel cell models, over the next nine months.

Sareum will receive the grant on the condition it contributes up to £50,000 from its working capital during the funding period, as well as a compliance review by the Technology Strategy Board and an agreement between both parties.

Sareum's Chief Executive, Dr. Tim Mitchell, said: "We are delighted to have been offered this financial support from the Biomedical Catalyst, which gives us the opportunity to demonstrate the potential of our novel FASN inhibitors.

"Success from this funding period may open up the opportunity of additional awards to advance further the programme. We believe this award is a positive validation of Sareum's science as competition for these grants is very strong."

The share price climbed 2.% to 1.02p by 09:37.

NR

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

Here’s why you really should own at least some bitcoin
Bitcoin

Here’s why you really should own at least some bitcoin

While bitcoin is having a quiet year – at least in relative terms – its potential to become the default cash system for the internet is undiminished, …
16 Sep 2020
Will a second wave of Covid lead to another stockmarket crash?
Stockmarkets

Will a second wave of Covid lead to another stockmarket crash?

Can we expect to see another lockdown like in March, and what will that mean for your money? John Stepek explains.
18 Sep 2020
Central banks want politicians to take charge – but what will they do?
US Economy

Central banks want politicians to take charge – but what will they do?

The US Federal Reserve has come to the end of the road in terms of what it can do to accelerate any recovery, says John Stepek. It's over to the polit…
17 Sep 2020