Sareum achieves mileston in Schering collaboration

12-Jun-2006

Sareum Holdings plc 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. According to the company, Sareum is the only organization to have successfully determined the structure of this target. 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.

Financial terms of the agreement were not disclosed.

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