Sareum Holdings plc, the specialist structure-based drug discovery business, said it has extended its research services agreement with Genentech, Inc. for a further six months following its initial agreement which was announced in November 2006. Financial terms of the agreement were not disclosed.
Under the terms of this agreement, Sareum will continue to apply its skills in high throughput protein expression, purification and structure determination on drug discovery targets designated by Genentech.
In return, Sareum will receive research fees and may receive specific success-dependent milestone payments.
"Successfully delivering on relationships with leading companies such as Genentech is a key component of our business strategy and an outstanding validation of Sareum's technology and expertise. We are very pleased to have supported Genentech's programs over the last 12 months, and look forward to continuing this important relationship," said Dr Tim Mitchell, chief executive officer, Sareum.
Sareum Holdings plc is a structure-based drug discovery business headquartered in Cambridge, UK, aimed to discover new drugs for the treatment of cancer.