Summit Therapeutics Announces First Milestone Achieved in Strategic Alliance With University of Oxford for Future Generation ...
December 02 2015 - 6:00AM
Summit Therapeutics plc (NASDAQ:SMMT) (AIM:SUMM), the drug
discovery and development company advancing therapies for Duchenne
muscular dystrophy ('DMD') and Clostridium difficile infection,
announces the achievement of the first research milestone as part
of its multiyear strategic alliance with the University of Oxford.
The collaboration is focussed on developing future-generation
utrophin modulators for the potential treatment of all patients
with the progressive muscle wasting disorder DMD.
The research milestone was achieved following nomination of two
series of novel utrophin modulators to progress into lead
optimisation studies. This research is being undertaken as part of
Summit's sponsored drug discovery and development programme at the
University of Oxford, which is being led by the research teams of
Professor Kay Davies FRS, an internationally acclaimed expert in
DMD, Professor Stephen Davies, the Waynflete Professor of Chemistry
and a director of Summit, and Dr. Angela Russell, an expert in
medicinal chemistry and pharmacology. The next objective of the
alliance is the selection of a development candidate to enter
preclinical studies enabling clinical trials. The novel utrophin
modulators that have been discovered include a series of compounds
with a potentially new mechanism that appears to be distinct from
that of Summit's Phase 2 clinical candidate SMT C1100.
"Utrophin protein naturally occurs in all developing muscle
fibres and performs a similar functional role as dystrophin.
Utrophin modulation aims to maintain the production of this protein
to substitute for the missing dystrophin, and we believe it has the
potential to slow or even stop the progression of DMD in all
patients with this progressive and universally fatal disease,"
commented Professor Kay Davies, FRS.
"Our collaboration with Summit has made tremendous progress and
we are delighted to have nominated two series of utrophin
modulators, including one with a potentially novel mechanism, for
progression into lead optimisation studies. We look forward to
their continued development as we seek to produce utrophin-based
treatments that could allow DMD boys to live longer and more
fulfilled lives."
Glyn Edwards, Chief Executive Officer of Summit
added, "The achievement of this research milestone
highlights the value of our partnership with the University of
Oxford as part of our strategy to build a strong and diversified
pipeline of utrophin-based therapies. With our lead candidate SMT
C1100 poised to enter Phase 2 clinical trials, this is an important
time for our programme as we seek to develop disease-modifying
treatments for all patients living with this devastating
disorder."
Under the terms of the recently extended strategic alliance,
announced on 17 November 2015, achieving this milestone entitles
the University of Oxford's technology commercialisation company,
Isis Innovation Limited, to a one-time nominal payment from Summit
and to subscribe for 50,000 new ordinary one penny shares in the
Company at an exercise price of 20 pence per share during the
three-month period starting 22 November 2016.
About Utrophin Modulation in DMD
DMD is a progressive muscle wasting disease that affects around
50,000 boys in the developed world. The disease is caused by
different genetic faults in the gene that encodes dystrophin, a
protein that is essential for the healthy function of all muscles.
There is currently no cure for DMD and life expectancy is into the
late twenties. Utrophin protein is functionally and structurally
similar to dystrophin. In preclinical studies, the continued
expression of utrophin has a meaningful, positive effect on muscle
performance. Utrophin modulation has the potential to slow down or
even stop the progression of DMD, regardless of the underlying
dystrophin mutation. It is also expected that utrophin modulation
could potentially be complementary to other therapeutic approaches
for DMD.
About Summit Therapeutics
Summit is a biopharmaceutical company focused on the discovery,
development and commercialisation of novel medicines for
indications for which there are no existing or only inadequate
therapies. Summit is conducting clinical programs focused on the
genetic disease Duchenne muscular dystrophy and the infectious
disease C. difficile infection. Further information is available at
www.summitplc.com and Summit can be followed on Twitter
(@summitplc).
For more information, please contact:
Summit |
|
Glyn Edwards / Richard Pye (UK office) |
Tel: +44 (0)1235 443 951 |
Erik Ostrowski / Michelle Avery (US
office) |
+1 617 225 4455 |
|
|
Cairn Financial Advisers
LLP |
|
(Nominated Adviser) |
|
Liam Murray / Tony Rawlinson |
Tel: +44 (0)20 77148 7900 |
|
|
N+1 Singer |
|
(Broker) |
|
Aubrey Powell / Tom Smale |
Tel: +44 (0)20 7496 3000 |
|
|
MacDougall Biomedical
Communications |
|
(US media contact) |
Tel: +1 781 235 3060 |
Chris Erdman |
cerdman@macbiocom.com |
|
|
Peckwater PR |
|
(Financial public relations, UK) |
Tel: +44 (0)7879 458 364 |
Tarquin Edwards |
tarquin.edwards@peckwaterpr.co.uk |
Forward-looking Statements
Any statements in this press release about Summit's future
expectations, plans and prospects, including but not limited to,
statements about the clinical and preclinical development of
Summit's product candidates, the therapeutic potential of Summit's
product candidates, and the timing of initiation, completion and
availability of data from clinical trials, and other statements
containing the words "anticipate," "believe," "continue," "could,"
"estimate," "expect," "intend," "may," "plan," "potential,"
"predict," "project," "should," "target," "would," and similar
expressions, constitute forward looking statements within the
meaning of The Private Securities Litigation Reform Act of 1995.
Actual results may differ materially from those indicated by such
forward-looking statements as a result of various important
factors, including: the uncertainties inherent in the initiation of
future clinical trials, availability and timing of data from
on-going and future clinical trials and the results of such trials,
whether preliminary results from a clinical trial will be
predictive of the final results of that trial or whether results of
early clinical trials or preclinical studies will be indicative of
the results of later clinical trials, expectations for regulatory
approvals, availability of funding sufficient for Summit's
foreseeable and unforeseeable operating expenses and capital
expenditure requirements and other factors discussed in the "Risk
Factors" section of filings that Summit makes with the Securities
and Exchange Commission including Summit's Annual Report on Form
20-F for the fiscal year ended January 31, 2015. Accordingly
readers should not place undue reliance on forward-looking
statements or information. In addition, any forward looking
statements included in this press release represent Summit's views
only as of the date of this release and should not be relied upon
as representing Summit's views as of any subsequent date. Summit
specifically disclaims any obligation to update any forward-looking
statements included in this press release.
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