Summit and Joining Jack Enter Funding Agreement to Develop Novel Biomarkers for DMD

Accessibility: Skip TopNav

November 05, 2013 02:00 ET

Summit Therapeutics plc

Summit Therapeutics plc

Summit Corporation plc

('Summit' or 'the Company')

SUMMIT AND JOINING JACK ENTER FUNDING AGREEMENT TO SUPPORT DEVELOPMENT OF NOVEL BIOMARKERS FOR DMD

Oxford, UK, 5 November 2013 - Summit (AIM: SUMM), a drug discovery and development company advancing therapies for Duchenne Muscular Dystrophy ('DMD') and C. difficile infection, is pleased to announce it has entered into a funding agreement with the UK charity, Joining Jack, to support the development of novel biomarkers for DMD.

Summit aims to develop new biomarkers that are both related to the mechanism of its utrophin modulator candidate SMT C1100 and to other aspects of muscle health, including muscle fibre regeneration and inflammation.  The information gained from this effort will support the clinical development of SMT C1100 and other therapeutic candidates for the treatment of DMD.  Joining Jack were formed in 2012 to support research into identifying therapies for DMD and they will provide up to £100,000 in funding to support this development effort.

"Summit is delighted to enter this agreement with Joining Jack to support our development programme to create novel and meaningful biomarkers to help determine the impact of new candidates like SMT C1100 in clinical trials and to supplement the existing endpoints, which are often seen as limited and challenging," commented Glyn Edwards, Chief Executive Officer of Summit.  "We are grateful for the continuing support of the DMD community in advancing this therapeutic approach which could potentially treat all patients with DMD, regardless of the underlying genetic cause."

Andrew Johnson from Joining Jack added: "Our mission is to provide support for potential new therapies in DMD to ultimately ensure that we can make a difference for this generation of boys suffering from this disease. We believe that SMT C1100 and the utrophin modulation approach holds significant promise."

The biomarker development work will be conducted in collaboration with the leading research groups of Dr Jenny Morgan, Professor Caroline Sewry and Professor Francesco Muntoni at the Institute of Child Health, University College London.

Summit is an Oxford, UK based drug discovery and development Company targeting high-value areas of unmet medical need including Duchenne Muscular Dystrophy and C. difficile infection.  Summit is listed on the AIM market of the London Stock Exchange and trades under the ticker symbol SUMM. Further information is available at www.summitplc.com and follow Summit on Twitter (@summitplc).

For more information, please contact:

Forward Looking Statements

This announcement contains "forward-looking statements", including, but not limited to, statements about the discovery, development and commercialisation of programme assets. These forward-looking statements are statements based on the Company's current intentions, beliefs and expectations, which include, among other things, the Company's results of operations, financial condition, prospects, growth, strategies and the industry in which the Company operates. No forward-looking statement is a guarantee of future performance and actual results could differ materially from those expressed or implied in the forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements or information.  Forward-looking statements and information by their nature involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These include but are not limited to: adverse results in clinical or preclinical development studies; delays in obtaining regulatory approval; failure to obtain patent protection for inventions; commercial limitations imposed by patents owned or controlled by third parties; being unable to secure partnership agreements to develop and commercialise programme assets; being unable to secure the necessary funding to conduct any proposed research and development studies; and the ability to retain and recruit key personnel.  The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained in this announcement to reflect any changes in expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based, except as required by applicable law.