(Alliance News) - Summit Therapeutics PLC on Thursday said it secured an additional USD8.8 million funding award from Biomedical Advanced Research & Development Authority for the development of its treatment of C. difficile infection.
C. difficile infection is caused by an infection of the colon by the bacterium C. difficile, which produces toxins that cause inflammation and severe diarrhoea, and in the most serious cases can be fatal.
The additional funding is being provided to support a new clinical trial in adolescent patients and brings the total value of the award to up to USD72.5 million.
The pharmaceutical company said the adolescent clinical trial is expected to support a new drug application for ridinilazole and also will form part of a package of work with the potential to provide an additional six months market exclusivity for ridinilazole in the US and Europe.
Shares in Summit Therapeutics were up 13% at 23.80 pence each in London on Thursday afternoon.
By Tapan Panchal; tapanpanchal@alliancenews.com
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