Summit platform attracts interest

Drug discovery company Summit Corporation is in discussions with potential partners for the Seglin platform. The Seglin platform enables the identification of mew treatments. The platform is being used to identify cancer and metabolic diseases treatments. AIM-quoted Summit suffered a operating cash outflow of £2.74m in the year to January 2011, which was slightly lower than the year before. That figure benefitted from tax rebates. Summit still has £3.3m in the bank. Summit is on course to drawdown the remaining £1m grant from Wellcome Trust to finance the development of SMT 19969 a treatment against the superbug C. difficile.