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

hopefully we'll see more & stronger broker notes/recommendations soon

Summit schedules FY results

9 April 2013 | 14:59pm

StockMarketWire.com - Summit - a drug discovery and development company advancing therapies for Duchenne Muscular Dystrophy and C. difficile infections - will announce its preliminary results for the year to the end of January on 11 April.

At 2:59pm: [LON:SUMM] share price was +0.01p at 4.38p

Sold my holding

Summit antibiotic reveals encouraging early potential
By Ian Lyall April 24 2013, 7:32am The Summit drug candidate is part of a new class of antibiotics that are high potency and selective for one particular infection – in this case the so-called super-bug C.diff.The Summit drug candidate is part of a new class of antibiotics that are high potency and selective for one particular infection – in this case the so-called super-bug C.diff.

Summit (LON:SUMM) has unveiled encouraging early results from clinical trials on the antibiotic it is developing for C.difficile.

The phase I study on 56 healthy patients revealed SMT 19969 is both safe and well tolerated in the doses that would be required to treat patients.

The Summit drug candidate is part of a new class of antibiotics that are high potency and selective for one particular infection – in this case the so-called super-bug C.diff.

Researchers assessed 19969’s potential to target infections by looking at the gut flora in the volunteers. They found that it was “highly sparing” of gut flora with only the clostridia bacterial family reduced to levels below the limit of detection.

"The positive safety and tolerability of SMT 19969 in this human phase I trial is a major success," said Summit chief executive Glyn Edwards.

"The results of the gut flora analysis are particularly encouraging because they indicate that SMT 19969 could target C. difficile without undermining the natural balance of gut flora.

“This reinforces our belief that SMT 19969 can become a breakthrough treatment for this life-threatening disease."

Professor Mark Wilcox, Consultant Head of Microbiology at the Leeds Teaching Hospitals NHS Trust, added: “It is very encouraging that in human volunteers SMT 19969 is highly sparing of gut flora.

“This offers promise as a much needed alternative treatment for this potentially serious disease."

Summit Appoints Dr David Roblin as Chief Medica...

HUG


Summit Corporation plc
('Summit' or 'the Company')

SUMMIT APPOINTS DR DAVID ROBLIN AS CHIEF MEDICAL OFFICER

Oxford, UK, 12 June 2013 - Summit (AIM: SUMM), a drug discovery and development company advancing therapies for Duchenne Muscular Dystrophy ('DMD') and C. difficile infection ('CDI'), is pleased to announce the appointment of Dr David Roblin as the Company's Chief Medical Officer ('CMO'). During an extensive career in the pharmaceutical industry, Dr Roblin has successfully developed drugs through clinical trials and market launch across several therapy areas including infectious and metabolic diseases.

"As one of Europe's leading experts in translational medicine, I am delighted David has joined Summit as Chief Medical Officer to strengthen our clinical development team", commented Glyn Edwards, Chief Executive Officer of Summit. "David brings considerable expertise in all aspects of drug development having been instrumental in the successful development of a number of important medicines. As our DMD and CDI drug programmes go through patient clinical trials, David will make a major contribution to their successful development."

Summit's new Chief Medical Officer, Dr David Roblin, added, "SMT C1100 and SMT 19969 are promising new drugs, based on innovative science, that have the potential to address medical and patient need and, as a result, become breakthrough treatments for two devastating diseases. I look forward to working with the high quality team at Summit and supporting the development of these programmes as they progress through patient clinical trials."

About Dr David Roblin MBBS, BSc, FRCP, MFPM
Dr David Roblin is a qualified medical doctor who after practicing medicine entered the pharmaceutical and biotechnology industry. He has extensive experience from an 18-year career in the industry during which he has been involved in the successful development of a number of important medicines in a range of therapy areas including infectious and metabolic diseases.

David has held a number of senior leadership roles at Pfizer and Bayer where he was involved in research, development and commercialisation. At Pfizer, he was Head of Research, Site Director and CMO for Europe R&D and he and his units were responsible for the development of several important and successful medicines. At Bayer, he was Head of Therapy Area for Anti-infectives where he was involved in the successful development of a number of antibiotics, including Avelox(TM) and Cipro(TM).

Having held a number of Executive and Non-Executive Board positions, David also has experience in commercial and R&D strategy, fundraising and securing non-dilutive grants from a various UK, European and US government bodies. He will divide his time between Summit and Creabilis SA where he is also CMO. He is currently a Director of Destiny Pharma and Bio-Industry Advisor to the National Office of Research Infra-structure in the Department of Health.

David previously practiced medicine at St George's and St Bartholomew's Hospital, London, holds a degree in Biochemistry (University of London) and is a Fellow of the Royal College of Physicians and Member of the Faculty of Pharmaceutical Physicians.

- END -

At the recent AGM, the company said that a successful Phase 2 trial of SMT19969 could be worth £300 - £400m.

Therefore...

* Successful SMT19969 Phase II should add at least £300m of value by end of 2014.
* £300m = share price of 85p.
* So, 20 bagger in 18 months (On C. Diff alone!)
* PLUS - DMD SMTC1100 ($multi-billion market).
* PLUS - 'Lottery ticket' BMS/Seglin research.

Summit CEO says CMO appointment a "great catch" for the Co.
By Jeremy Naylor

http://www.proactiveinvestors.co.uk/companies/stocktube/2046/summit-ceo-says-cmo-appointment-a-great-catch-for-the-co--2046.html

N+1 Singer kept its ‘buy’ rating and 9p target price on Summit Corporation (LON:SUMM) today.

It comes as the drug developer said the successful completion of phase I clinical trials on SMT 19969, its antibiotic for C.difficile, triggered a £740,000 payment from the Wellcome Trust medical charity.

“The group’s development progression remains on track and we remain positive on its future prospects,” the broker said.


http://www.proactiveinvestors.co.uk/columns/broker-spotlight/13277/broker-round-up-ii-ariana-resources-new-world-oil-gas-kryso-resources-summit-corporation-13277.html

Sounds good..hopefully the sp will be a lot higher in 18months... still think this will tread water for the next year and then ..boom! (imho)... will top up at these levels in the meantime as funds become available

looks good.

Looks VERY good.

Just needs some patience!

As Hybridan recently said...

"Untenable Discount

We believe the huge valuation gulf between Summit and its peers is unsustainable; if financial markets don’t appreciate this then we would expect strategic investors to grab the opportunity sooner or later."

Placing to Raise GBP4.5M and Offer for Subscrip...

HUG


NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

Summit Corporation plc
('Summit' or 'the Company')

PROPOSED PLACING AND OFFER FOR SUBSCRIPTION TO QUALIFYING SHAREHOLDERS AND NOTICE OF GENERAL MEETING

Oxford, UK, 3 July 2013 - Summit (AIM: SUMM), a drug discovery and development company announces a share issue to raise GBP4.5 million (before expenses) through the issue of 90,750,000 new Ordinary Shares by way of a Placing at 5.0 pence per Ordinary Share to certain institutional investors and Directors. The Placing is being fully underwritten by Nomura Code Securities Limited on, and subject to, the terms of a placing agreement between the parties.

The issue price represents a premium of approximately 17.6 per cent. to the price of 4.25 pence per share, being the closing mid-market price of the Company's Ordinary Shares on 2 July 2013.

Glyn Edwards, Chief Executive Officer of Summit commented: "We are pleased to have received the support of existing shareholders and experienced healthcare investors in this placing that will maintain the development of our DMD programme while our novel C. difficile antibiotic continues to be supported by the Wellcome Trust."

Qualifying Shareholders will also be given an opportunity to participate in an Offer for Subscription of new Ordinary Shares at 5.0 pence per new Ordinary Share to raise up to GBP1.0 million in addition to the funds raised from the Placing.

A circular relating to the Placing and the Offer for Subscription will be posted to shareholders today. The circular contains a Notice of General Meeting to approve, inter alia, the issuance of the new Ordinary Shares pursuant to the Placing and the Offer for Subscription. The meeting will be held at the offices of Fasken Martineau LLP, 17 Hanover Square, London, W1S 1HU on 19 July 2013 at 10:00 a.m.

The circular will soon be available to view on the Company's website (www.summitplc.com) and copies will also be available from the registered office of Summit, 85b Park Drive, Milton Park, Abingdon, Oxfordshire, OX14 4RY.

- END -

Summit Corporation: N+1 Singer shifts target price from 9p to 8.80p keeping a buy recommendation

Summit fund-raise attracts the specialist pharma investors
By Ian Lyall July 03 2013, 11:58am Management is also taking part in the cash call, with the biggest contribution coming from non-executive director Jim Mellon, already a significant investor, who is acquiring 20mln shares.Management is also taking part in the cash call, with the biggest contribution coming from non-executive director Jim Mellon, already a significant investor, who is acquiring 20mln shares.

Summit Corp (LON:SUMM) rose 14% in early trade as the group launched a £4.5mln placing at a significant premium to last night’s closing share price.

The company also gave existing private holders of the stock the opportunity to follow their investment with an open offer, which could bring in a further £1mln.

However, it is the institutional support for the issue that will hearten followers of the drug discovery group, which is developing a breakthrough treatment for the muscle wasting disease, Duchenne Muscular Dystrophy (DMD), and a new antibiotic to tackle C.difficile.

“The placing was done at a fairly significant premium to the price,” chief executive Glyn Edwards told Proactive Investors.

“That just shows that while the retail investors are all pretty down about AIM and biotech, the healthcare specialists see our programmes as huge opportunities and really wanted to get a piece of them.”

The demand for stock came from institutions focused on the sector that can see the disconnect between Summit’s valuation (US$26mln) and comparable NASDAQ-listed biopharma companies, such as PTC Therapeutics (worth US$380mln) and Serapta (market cap US$1.2bn).

“The guys who have come are really the main healthcare specialists,” said Edwards.

“What they have seen is our competitor companies on NASDAQ are all valued at a significant premium to us.”

Management is also taking part in the cash call, with the biggest contribution coming from non-executive director Jim Mellon, already a significant investor, who is acquiring 20mln shares.

“Jim is a big investor in the sector and he is excited by this opportunity. He came in on the last placing and then joined the board and he has been really very active,” Edwards said.

Those taking part in the fundraising are being offered stock at 5p, an 18% premium to last night’s closing share price.
The cash injection will be used to fund the development of Summit’s DMD drug.

Having successfully negotiated a phase I trial on healthy volunteers, the group will carry out safety and dose finding clinical study in DMD patients.

The new money will also allow the group to carry out “other activities that will enable a more extensive phase II patient trial to be undertaken”.

Development of Summit’s other lead drug candidate, an antibiotic to tackle C. difficile, is being largely funded by the Wellcome Trust medical charity.

At 11am, the stock was changing hands for 4.86p, for a rise of 0.61p.

“The raise strengthens the group’s financial position, providing it with sufficient cash for at least the next 12 months,” broker N+1 Singer said.

“The group’s development progression remains on track and we remain positive on its future prospects.”

Summit tops up recent placing
By Philip Whiterow July 16 2013, 10:38am The group is developing treatments for Duchenne Muscular Dystrophy and C. difficile infection.The group is developing treatments for Duchenne Muscular Dystrophy and C. difficile infection.

Drug discovery group Summit (LON:SUMM) has topped up its recent placing with a subscription from existing private shareholders.

The placing was with institutions that largely specialise in healthcare and directors and raised £4.5mln. Other shareholders were also offered shares at 5p through an offer for subscription. Summit said it received acceptances through this offer for 1.52mln shares, raising about a further £76,000.

The group is developing treatments for Duchenne Muscular Dystrophy and C. difficile infection.

Director Deals - Summit Corporation PLC (SUMM)
Jim Mellon, Non Executive Director, 20,000,000 shares in the company on the 23rd July 2013 at a price of 5.00p. The Director now holds 45,000,001 shares. Story provided by StockMarketWire.com Director deals data provided by www.directorsholdings.com

15:10 26/07/2013
Director Deals - Summit Corporation PLC (SUMM)
Barry Price, Chairman, 500,000 shares in the company on the 23rd July 2013 at a price of 5.00p. The Director now holds 1,514,615 shares. Story provided by StockMarketWire.com Director deals data provided by www.directorsholdings.com

15:10 26/07/2013
Director Deals - Summit Corporation PLC (SUMM)
Dr Frank Armstrong, Non Executive Director, 50,000 shares in the company on the 23rd July 2013 at a price of 5.00p. The Director now holds 50,000 shares. Story provided by StockMarketWire.com Director deals data provided by www.directorsholdings.com

Summit gets £2.4mln injection
By Jamie Nimmo July 31 2013, 7:35am Summit's drug has the potential to become a life-changing treatment for all sufferers of DMD, which affects around 1,500 boys and young men in the UKSummit's drug has the potential to become a life-changing treatment for all sufferers of DMD, which affects around 1,500 boys and young men in the UK

Summit Corporation (LON:SUMM) has been awarded a £2.4mln grant from the UK Biomedical Catalyst Fund to support the clinical development of its drug for Duchenne Muscular Dystrophy (DMD), the fatal muscle wasting disease.

The Biomedical Catalyst programme, formed in 2011 as part of a government drive, provides funding to British life science companies that show the highest scientific and commercial potential.

Summit’s utrophin modulator drug SMT C1100 is expected to enter patient clinical trials later in 2013 and has the potential to become a life-changing treatment for all DMD sufferers, which affects around 1,500 boys and young men in the UK.

The company is also developing a treatment for the C. difficile infection.

Chief executive Glyn Edwards said: “This award recognises the promise of SMT C1100 as a life-changing drug for boys with this devastating disease.

“We are delighted to receive this prestigious grant from the UK Biomedical Catalyst Fund that will support the clinical development of our DMD programme.”

He added: “This represents a significant endorsement for the concept of utrophin modulation as a treatment approach for all DMD patients.”

The award adds to recent fundraisings including a £4.5mln placing and A$1.25mln from Australian DMD Foundation Save Our Sons (SOS).

31 Jul N+1 Singer 8.80 Buy

Up 10% today

I've been watching these - they look to be trying the year high of 5.50p and on reasonable volume.