Summit Corporation PLC : Directorate change

Accessibility: Skip TopNav

December 03, 2014 02:00 ET

Summit Therapeutics plc

Summit Therapeutics plc

Summit Corporation plc

('Summit' or 'the Company')

Oxford, UK, 3 December 2014 - Summit (AIM: SUMM), the drug discovery and development company advancing therapies for Duchenne Muscular Dystrophy and C. difficile infection, announces that the Summit Board of Directors has regretfully accepted the resignation of Mr Jim Mellon as a Non-Executive Director of the Company with immediate effect.  Mr Mellon has stepped down due to the pressure of his other work responsibilities and the challenge of visits to the UK.

Dr Frank Armstrong, Non-Executive Chairman of Summit commented, "It is with great regret that the Board of Directors has accepted the resignation of Jim Mellon as a Non-Executive Director.  Since Jim joined the Board in November 2012 his valuable contributions to support the development of the Company have been greatly appreciated.  Jim remains an important shareholder and on behalf of the Board, I would like to thank him and wish him well for the future."

Mr Jim Mellon added, "I have every confidence in the future development of SMT C1100 for Duchenne Muscular Dystrophy and of SMT19969 for C. difficile infection.  I extend my thanks to Summit's Board and Management for my time with the Company, and wish them and the Company every success for the future."

Summit is a drug discovery and development company targeting two high-value areas of unmet medical need:  the muscle wasting disease 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 Summit can be followed on Twitter (@summitplc).

For more information, please contact:

Forward Looking Statements

This announcement, and the presentations referred to in it, 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.