LONDON (Alliance News) - Summit Therapeutics PLC said Tuesday that it has agreed a multi-year extension of its strategic alliance with the University of Oxford until November 2019, with the option to extend it for further year.
Under the alliance, the company is working to support and accelerate the development of future generation utrophin modulators for the treatment of the progressive muscle wasting disorder, Duchenne muscular dystrophy.
"The extension of our alliance will allow us to invest further in utrophin modulation in partnership with the world-leading academic research groups at Oxford. This will help to accelerate the development of future generation molecules towards clinical trials, as we seek to maintain our leadership position in this field and potentially allow DMD boys to live longer and more fulfilled lives," said Chief Executive Officer Glyn Edwards in a statement.
Shares in Summit Therapeutics were down 2.5% at 114.11 pence Tuesday afternoon.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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