Gulf starts at Sheikh Adi-2 25/05/2012
Iraq-focused oil explorer Gulf Keystone Petroleum (GKP) has begun drilling at the Sheikh Adi-2 well in the Sheikh Adi block.
Sareum surges ahead
AIM-quoted drug discoverer Sareum Holdings (SAR) has selected a preclinical development candidate from its joint research collaboration with Cancer Research Technology.
Sareum noted that its research collaboration targets Chk1 (Checkpoint Kinase 1). This is crucial in controlling a cancer cell's response to DNA damage, which may be a consequence of either the cancer itself or caused as part of the treatment process by chemo or radiotherapy.
It adds that preclinical model studies carried out at Cancer Research UK's Cancer Therapeutics Unit at the Institute of Cancer Research demonstrated that the Chk1 candidate, dosed orally can help to reduce 'cancer growth rates compared to treatment with the same dose of chemotherapeutic without the Chk1 inhibitor.' In addition preclinical studies 'demonstrate the potential for the collaboration Chk1 development candidate to reduce tumour growth' when given as a sole treatment in models of certain cancer types.
Speaking to Growth Company Investor chief executive officer Tim Mitchell declared that the company had 'passed the finishing line as far as collaborations are concerned.' He adds that the latest deal means 'that we can show people we have been talking to that this is it' with the latest announcement likely to 'bring some more potential customers to the the party who have been waiting.' Looking forward he remarked that Sareum was 'looking for partners on several of our programs' with 'pretty much all of them in the shop window.'
Growth Company Investor recommended shares in Sareum last year at 0.54p and the shares have had a turbulent time since, currently trading at 1.63p having reached a peak of 2.58p earlier in the year. The latest announcement has bolstered Sareum's share price and is likely to reinvigorate enthusiasm for the company's prospects. We retain our speculative buy rating.
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