http://www.summitplc.com/
Summit is an Oxford, UK based drug discovery company developing novel drug candidates to treat areas of high unmet medical need. Our strategy has evolved to focus on the development of two high-value clinical-stage programmes that target the fatal genetic disease Duchenne Muscular Dystrophy (DMD) and infections caused by the superbug C. difficile

N+1 Singer Buy 10.13 10.13 11.00 16.30 Reiterates

Summit and the University of Oxford Enter Strategic Alliance to Develop Treatments for DMD

SUMMIT AND THE UNIVERSITY OF OXFORD ENTER STRATEGIC ALLIANCE TO DEVELOP TREATMENTS FOR DUCHENNE MUSCULAR DYSTROPHY


Summit acquires exclusive rights to a pipeline of novel utrophin modulators and core technology, and an exclusive option to intellectual property arising from the research collaboration

Technology acquired through issue of up to 42.5 million new ordinary shares

WATCH: Summit Corporation CEO Glyn Edwards and Prof Kay Davies talk about a strategic alliance in Duchenne Muscular Dystrophy

Click here to watch

UPDATE - Summit seals exclusive deal with Oxford University that underpins its DMD programme
By Ian Lyall November 25 2013, 4:27pm The all-paper deal with Oxford University will see it issue it issue 42.5mln shares, worth just over £3.9mln as of Friday’s close.The all-paper deal with Oxford University will see it issue it issue 42.5mln shares, worth just over £3.9mln as of Friday’s close.

---ADDS FURTHER CEO COMMENTS AND SHARE PRICE---

Shares in drug developer Summit (LON:SUMM) advanced around 10% on Monday after unveiling a deal to acquire a pipeline of new utrophin modulators, the technology at the core of its treatment for Duchenne Muscular Dystrophy (DMD).

The all-paper deal with Oxford University will see it issue 42.5mln shares, worth just over £3.9mln as of Friday’s close.

These assets have been developed at the university by research teams led by Professor Kay Davies, an internationally acclaimed expert in DMD; Professor Stephen Davies, the Waynflete Professor of Chemistry; and Dr Angela Russell, an expert in medicinal chemistry and pharmacology.

As part of the collaboration, Summit will sponsor a drug discovery programme to identify and develop additional utrophin modulator drugs.

Davies, a co-founder and former director of Summit, is re-joining the board a non-executive director following the deal.

Chief executive Glyn Edwards said: “The alliance provides access to differentiated classes of utrophin modulators, potentially with new mechanisms, to complement our clinical candidate SMT C1100, while also establishing a strong drug pipeline for the future.

“Importantly, it will help to cement our long-term relationship with the scientific leaders in the field at the University of Oxford."

DMD is a rare but fatal muscle wasting disease that occurs in boys.

Utrophin is at the heart of Summit’s drug candidate C1100 and it is thought to act in a similar way to dystrophin, which regulates muscle tone and function.

Edwards, in a video presentation, said it was important to bring through the next generation of compounds - and the tie-up with Oxford would do this.

"For while C1100 is the pathfinder, and we believe will revolutionise the treatment of Duchenne Muscular Dystrophy, we can already see ways of improving on that," he told investors.

"It is quite common when there are medical breakthroughs to have a first-in-class compound that gets to market first and moves the treatment forward hugely.

"But we can already see ways of improving on C1100 by working with the thought leaders at the University of Oxford."

The reaction to the tie-up was a positive one with the shares rising 10% to 10.12p a share, valuing the business at £46mln

Just starting to look positive again.

Summit Announces First Patient Dosed in a Phase 1b Clinical Trial of SMT C1100

The Chancellor Masters and Scholars of the University of Oxford > 3%

Has anyone any news about Summit?

:-))

On the up again +11%.

Up another 9%.

Sarepta DMD trial results buoy Summit

By Jamie Nimmo

January 16 2014, 4:37pm
Sarepta and Summit are both working towards a treatment for DMD, a rare but fatal muscle-wasting disease



The latest trial results from America’s Sarepta Therapeutics bode well for AIM-listed Summit (LON:SUMM).

That’s because the pair are both working towards a treatment for Duchenne Muscular Dystrophy (DMD), a fatal muscle-wasting disease that affects boys.

Sarepta revealed at the JPMorgan Healthcare Conference in San Francisco that Eteplirsen trial patients showed continued stability when walking as part of the ongoing Phase IIb study.

Sufferers on the drug were able to walk further than the group of patients given the placebo, confirming the benefits of the drug.

Summit may look like a minnow alongside Sarepta and its $1 billion market capitalisation. But that’s only after a two-year surge that has seen Sarepta’s share price jump from 60 cents to $26.90 – it jumped another 35% today.

Summit, which rose 8% to 12.7p on the back of the news, treated its first patient suffering from DMD last month as part of a phase Ib clinical trial of its own treatment, SMT C1100.

Richard Pye, head of corporate development and communications at Summit, explained that Eteplirsen will only treat 13% of DMD boys since it is specific to a genetic form.

Summit’s treatment meanwhile would treat all sufferers.

Pye says that because of the difference in approach between the two companies, he sees Sarepta less as a rival and more as “complimentary”.

“There is progress being made and there is a better understanding from a clinical trial perspective as to what’s going on and what effect they are seeing in patients. That helps us when we get to do our clinical studies as well,” he said.

“Having an approach that enables us to target all the boys irrespective of the genetic mutation they’ve got puts us in a really strong position.”

Summit’s trial involves twelve boys aged between five and eleven years and is taking place at up to four NHS hospitals in the UK.

this stock has been on the rocks for some time, jam tomorrow? maybe one day

Why this sudden drop?

yesterdays news 323m new shares to be issued @6.5p

Oh. Not good news short time. Thanks Hal.

Summit funded to do 'comprehensive job' on two drug programmes

By Jeremy Naylor

February 12 2014, 2:39pm



Glyn Edwards, chief executive of Summit (LON:SUMM), tells Proactiveinvestors it is now 'really well funded' on two exciting drug programmes. He also reveals the group has attracted new shareholders from the US, a hotbed for biotech investment.



http://www.proactiveinvestors.co.uk/companies/stocktube/2537/summit-funded-to-do-comprehensive-job-on-two-drug-programmes--2537.html

RESULT OF OFFER FOR SUBSCRIPTION TO QUALIFYING SHAREHOLDERS

Oxford, UK, 26 February 2014 - Summit (AIM: SUMM), a drug discovery and development company advancing therapies for Duchenne Muscular Dystrophy and C. difficile infection, announced on 11 February 2014 it had conditionally raised £21.0 million (before expenses) through the placing of 323,076,924 new Ordinary shares at 6.5 pence per share. In addition, the Company provided Qualifying Shareholders with the opportunity to subscribe for new Ordinary shares on the same terms. This Offer for Subscription was not underwritten.

The Offer for Subscription has now closed and, in accordance with its terms, the Company has received valid acceptances in respect of 111,265,720 Ordinary Shares from Qualifying Shareholders. The Offer for Subscription was more than seven times over-subscribed. The directors of the company have undertaken a scaling back process. The Company has raised gross proceeds of £1.0 million from the Offer for Subscription making a total of £22.0 million ($36.0 million) from the Placing and Offer for Subscription.

Shareholder authority is required to allot the new Ordinary Shares and therefore the Placing and the Offer for Subscription are conditional on the passing of the resolutions that have been proposed at a General Meeting of shareholders to be held at 10:00am on 28 February 2014, at the officers of Fasken Martineau, 17 Hanover Square, London, W1S 1HU.

- END -

CHANGE OF BROKER

Oxford, UK, 4 March 2014 - Summit (AIM: SUMM), a drug discovery and development company advancing therapies for Duchenne Muscular Dystrophy and C. difficile infection, announces that Hybridan has resigned as broker to the Company. N+1 Singer has been appointed sole broker to the Company. Both these changes take place with immediate effect.

- END -

Summit primed for positive momentum - N+1 Singer

By Giles Gwinnett

March 11 2014, 1:08pm
Meanwhile, SMT 19969 for C.dif will begin a Phase II proof of concept clinical trial during the first half of 2014



Summit Corporation (LON:SUMM) is at an interesting stage with phase II patient clinical trials on the horizon, highlighted broker N+Singer on Tuesday.

And its recent £22mln fundraise provides the necessary funds to progress its two development programmes - for Duchenne Muscular Dystrophy (DMD) and C.difficile.

The firm's lead candidate is SMT C1100 for the treatment of DMD, is the most advanced utrophin modulator in Summit’s modulator portfolio, noted the broker.

It is currently in Phase Ib with top line results expected in the second quarter of 2014, said analyst Sheena Berry.

"Phase II is scheduled to begin in Q3. The group also aims to identify a next generation utrophin modulator this year for clinical progression."

Meanwhile, SMT 19969 for C.dif will begin a Phase II proof of concept clinical trial during the first half of 2014.

Berry notes that most of its fair valuation on the group is generated from the DMD opportunity, which is the programme which provides Summit with the greatest opportunity, reckons the broker.

"As the programmes progress through development and additional next generation modulators introduced, our intrinsic value of 11p per share will clearly increase," said the analyst.

With the additional funding the group is in a strong position to maintain its positive momentum and capitalise on game changing opportunities. In our view, Summit is a high quality business in a strong position to penetrate its target markets.

Shares are currently unchanged at 8.625p.