('Summit' or 'the Company')
SUMMIT SECURES $1.5M AGREEMENT WITH US DMD ORGANISATIONS• Proceeds to fully fund new Phase I clinical trial of Summit's potential first-in-class DMD drug SMT C1100
• SMT C1100 has the potential to treat all DMD patients
Oxford, UK, 19 December 2011, Summit (AIM: SUMM), a UK drug
discovery company, announces that it has entered into
agreements collectively worth $1.5 million with several
US-based organisations for its utrophin upregulation drug
candidate SMT C1100 for the treatment of the fatal
neuromuscular disease Duchenne Muscular Dystrophy ('DMD').
The funding comprises of $750,000 from the Muscular Dystrophy
Association ('MDA'), $250,000 from Parent
Project Muscular Dystrophy ('PPMD') and $500,000
from a group of four independent Duchenne foundations
spanning the US:
Charley's Fund, Cure Duchenne, Foundation to Eradicate
Duchenne and the Nash Avery Foundation. Under the terms of
the agreements, Summit retains full ownership of this
asset.
The funding provided by these agreements will enable Summit
to manufacture a new formulation of SMT C1100 and conduct a
Phase I clinical trial in healthy volunteers. The trial will
evaluate if the new formulation can provide consistent levels
of the drug in the blood that non-clinical efficacy studies
predicted would be required to confer therapeutic benefit in
DMD Patients. Upregulation (increasing) of utrophin protein
levels has the potential to treat all DMD patients and Summit
has ensured the formulation selected will be appropriate for
use by all patient age-groups. The work will be conducted by
Summit.
"A long-time champion for utrophin upregulation as a
promising therapeutic strategy for treating Duchenne Muscular
Dystrophy, MDA is pleased Summit soon will begin testing a
new formulation of SMT C1100 in a human clinical trial," said
Valerie Cwik, M.D. Executive Vice President Research and
Medical Director for the Muscular Dystrophy Association.
"This is a vital step toward determining whether this
strategy will have a beneficial effect in individuals with
DMD."
He added: "Summit is especially pleased to conclude this deal
when set against the uncertainties of an increasingly austere
and challenging global environment for a number of sectors
including the life sciences industry. The Board remains
confident about signing further agreements, but recognises
that global and market uncertainties reduce its ability to be
precise on the timing of deals from on- going confidential
discussions with third parties."
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Barry Price, PhD,
Richard Pye, PhD Tel: +44 (0)1235 443 951
(Nominated Adviser and Joint broker)
Shaun Dobson / Claes Spång Tel: +44 (0)203 205 7500
(Joint broker)
Claire Louise Noyce / Tim Goodman / Deepak Reddy Tel: +44
(0)207 947 4004
(Financial public relations) Tarquin Edwards
Tel: +44 (0)7879 458 364 tarquin.edwards@peckwaterpr.co.uk
Duchenne Muscular Dystrophy is a fatal genetic neuromuscular disorder that affects 1 in 3,500 boys with an estimated patient population of 50,000 in the developed world. The disease is caused by mutations in the gene required to make dystrophin, a protein which maintains the integrity and healthy function of skeletal muscles. One in three new DMD cases is due to a spontaneous mutation where there is no familial history of the disease. The progressive muscle wasting begins in early childhood and typically leads to death in the twenties due to cardiac and respiratory failure. Currently there is no cure for DMD.
About Utrophin Upregulation
Utrophin is a naturally occurring protein that has a similar
function to dystrophin. Utrophin is produced during foetal
development but its production is switched off in adults. If
utrophin production could be maintained, it could act as a
substitute for the missing dystrophin to maintain the healthy
function of muscles. One method of turning utrophin
production back on is through pharmacological means. Utrophin
upregulation will be beneficial to all DMD patients
regardless of their specific genetic
mutation and is also expected to be complimentary to other
therapeutic approaches in development.
Summit is an Oxford, UK based drug discovery Company with an
innovative Seglin™ technology platform for the discovery of
new medicines and a portfolio of drug programme assets.
Seglin™ technology is using new chemistry to access
biological drug targets that cannot be exploited by
conventional drug discovery approaches and it is expected to
have broad use in major disease areas. Summit's programme
portfolio consists of a number of drug programmes 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.
MDA is the non-profit agency dedicated to curing muscular
dystrophy, ALS and related diseases by funding worldwide
research. The Association also provides comprehensive
healthcare and support services, advocacy and education.
Long the world's leading non-governmental funder of muscular
dystrophy research and health care services to affected
individuals, MDA has played a pioneering role in
utrophin-related research since
1996 (investing nearly $16 million to help develop this
promising therapeutic pathway). Presently, MDA active grants
include 102 focused on Duchenne Muscular Dystrophy,
representing a multi-year investment of close to $35
million.
In addition to annually funding some 300 research teams
worldwide, MDA maintains a national network of some 200
hospital-affiliated clinics; facilitates hundreds of support
groups for families affected by neuromuscular diseases; and
provides extraordinary local summer camp opportunities for
thousands of youngsters fighting progressive muscle diseases.
Known globally for its Labor Day Telethon, MDA is the first
non-profit to receive a Lifetime Achievement Award from the
American
Medical Association "for significant and lasting
contributions to the health and welfare of humanity." To
learn more visit www.mda.org.
Duchenne is a fatal genetic disorder that slowly robs young men of their muscle strength. Parent
Project Muscular Dystrophy's mission is to end Duchenne.
We invest deeply in treatments for this generation of young
men affected by Duchenne and in research that will benefit
future generations. We advocate in Washington, DC, and have
secured hundreds of millions of dollars in funding. We demand
optimal care, and we strengthen, unite, and educate the
global Duchenne community.
Everything we do-and everything we have done since our
founding in 1994-helps boys with Duchenne live longer,
stronger lives. We will not rest until every young man has a
treatment to end Duchenne. Go to www.ParentProjectMD.orgfor more information or to learn how you can
support our efforts and help families affected by Duchenne.
Charley's Fund, Cure Duchenne, Foundation to Eradicate
Duchenne, and Nash Avery Foundation are independent
organisations devoted to developing treatments for Duchenne
muscular dystrophy.
These groups, founded by parents of children with Duchenne,
support the most promising research projects aimed at
treating and curing the disease.
www.charleysfund.org www.cureduchenne.org www.duchennemd.org www.nashaveryfoundation.org
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within the meaning of the U.S. Private Securities Litigation
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Forward-looking statements are
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you should not rely on any of these forward-looking
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