SUMM.L Share News (SUMM)

Drug discoverer Summit Corporation says that trials of its SMT 19969 C. difficile treatment show that it is superior to existing treatments. Summit has the backing of the Wellcome Trust, which is funding the programme. SMT 19969 provides protection from initial and recurring infections. There is a low level of resistance to the treatment, which targets the site of the infection. Human trials could commence in 2012. Wellcome Trust will finance the phase I trial. The SMT C2100 treatment for malignant melanoma is showing a positive therapeutic effect. There have also been positive results from the potential diabetes treatment. The cash outflow from operations was reduced from £2.57m to £1.54m in the six months to July 2010. The cash pile reduced from £6.08m to £4.54m.