Sareum Holdings plc has announced that it has entered into a collaborative agreement with Schering AG, Germany.
The aim of the collaboration is for Sareum to provide protein structure determination capabilities to accelerate drug discovery research at Schering.
Sareum will utilise its expertise in high throughput protein expression, purification and structure determination to demonstrate how Schering’s potential drug candidates interact with their target protein receptor.
In return, Sareum will receive research fees and success milestone payments.
Commenting on the agreement, Sareum’s Chief Executive Officer, Dr Tim Mitchell, said, "We are delighted that Schering has chosen Sareum as their partner in protein structure determination."
"This is a further important collaboration that Sareum has signed with a major international pharmaceutical company."
"Revenues generated in collaborations such as this are valuable sources of financial support for our in-house cancer research programs."
"We look forward to successful delivery of this project to Schering and to closing additional partnerships such as this."