Sareum raises funds for Xcap

Cancer drug discovery company Sareum Holdings has conditionally raised £500,000 before expenses via a placing at 1p a share, representing a 40 per cent discount to the closing market price of 1.65p on Tuesday. The company said the shares were issued to meet investor demand from clients of Xcap Securities. Sareum will use the proceeds to accelerate its Aurora+FLT3 Kinase leukaemia drug programme, and for working capital.