Sareum Announces Success Milestones in Collaboration with Schering
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Sareum Holdings plc has announced the achievement of key success milestones in its collaboration with Schering AG.
In this collaboration, first announced in October 2005, Sareum has succeeded in using X-ray crystallography to determine, on schedule, the three-dimensional structure of one of Schering’s drug discovery research targets.
As a result of this achievement, Sareum has received success milestone payments.
Sareum will continue to provide structure information to support Schering’s drug discovery research on this target in return for further success milestone payments.
Commenting on the agreement, Sareum’s Chief Executive Officer, Dr Tim Mitchell, said, "We are extremely pleased to have achieved these success milestones in this important collaboration."
"The successful determination of this difficult and previously un-solved protein structure further demonstrates our leading position in structure-based drug discovery research."