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  • BY: Andrew Hore |
  • POSTED: 03/10/2012 |

Cancer drug discovery company Sareum Holding has secured a £4m Standby Equity Distribution Agreement (SEDA) with Yorkville and it is still confident that it can secure a commercial deal for one of its research programmes before the end of 2012. 

There was £511,000 in the bank at the end of June 2012. Last year’s cash outflow from operations was £602,000.  The SEDA lasts three years.

Having a source of finance will put Sareum in a stronger position when it is negotiating with a potential partner.

At 1.45p a share, Sareum is valued at £21.5m.

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