Taylor Vinters advises Sareum Holdings plc on its placing raising £1.44m

Leading cancer drug discovery and development company Sareum has raised £1.44 million in a placing of ordinary shares on AIM with the help of specialist international law firm Taylor Vinters and its corporate finance team. The placing was managed by Sareum’s nominated adviser, WH Ireland, acting as co-broker together with Hybridan.

The proceeds of the placing will be used to further progress the Company's drug development programmes as well as for working capital purposes. This includes the anticipation of a payment of £797,500 to co-fund and drive its Checkpoint Kinase 1 programme into phase I clinical trials.

The Cambridge-based Sareum is a drug discovery and development company delivering targeted small molecule therapeutics, focusing on cancer and autoimmune disease, for licensing to pharmaceutical and biotechnology companies at the preclinical or early clinical trials stage. Sareum operates an outsourced research model, working with collaborators (SRI International, the CRT Pioneer Fund and Hebei Medical University Biomedical Engineering Center) and a world-wide network of research providers. Its research pipeline includes two programmes undergoing pre-clinical IND-enabling studies: CHK1 kinase and Aurora+FLT3 kinase.

Taylor Vinters’ Ed Hooper (Partner and Head of the Capital Markets team) and Alice Paley (Corporate Associate) advised on this deal. Dr Tim Mitchell, Sareum’s CEO commented “Ed and Alice at Taylor Vinters helped make this process easy and straightforward. Their knowledge of the AIM market has been invaluable"

Ed Hooper said “We are delighted to have advised Sareum, a long-standing client of the firm, on its recent fundraising and we look forward to working with the company as it progresses its drug development programme.”