SUMM.L Share News (SUMM)

LONDON (Dow Jones)--Summit Corporation PLC (SUMM.LN), a U.K. based drug discovery company, said Thursday it has a number of opportunities to deliver commercial success from its portfolio of partner funded programs and Seglin technology platform, adding that it is currently exploring potential collaborations with interested parties, a number of whom are actively evaluating and testing the platform. MAIN FACTS: -Good progress has subsequently been made with the lead compound SMT 19969 entering into proof of concept studies in the gold standard in vivo model; Remains on-track to report results from this and other on-going in vitro studies, in H2, and if successful, anticipates having a package of data of interest to commercial partners. -Good progress continues to be made in infectious and metabolic disease areas and Board expects to report the results from a range of on-going studies in the second half of 2010. -Receiving increasing levels of interest from major pharmaceutical and biotechnology companies regarding Seglin technology. -Shares closed Wednesday at 4.5 pence valuing the company at GBP7.48 million. -By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; ian.walker@dowjones.com (END) Dow Jones Newswires June 17, 2010 02:37 ET (06:37 GMT)