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Terms of the Acquisition Under the terms of the acquisition, Summit acquired 100% of the issued share capital of Discuva. The consideration to Discuva shareholders comprised of £5.0 million in cash and £5.0 million in new ordinary shares of Summit of one penny nominal value ('New Ordinary Shares') issued to Discuva shareholders at a price of 170.4 pence per share, representing a 3.3% premium to Summit's mid-market closing share price on 22 December 2017. The 2,934,272 New Ordinary Shares have been allotted and application for their admission to trading on AIM has been made with dealings expected to begin on or about 29 December 2017. The New Ordinary Shares represent approximately 3.99% of the Company's enlarged issued share capital.

Discuva is a Cambridge, UK-based drug discovery company producing new antibiotics to meet the critical unmet medical need in the clinic. The company has proprietary technologies that allow the rapid identification and development of targeted next generation antibiotics against emerging and drug-resistant pathogens. Discuva currently has several specific antimicrobial programmes mainly focused on Gram-negative bacteria that cause major hospital and community-based infections. The small molecule drugs produced by Discuva are being developed to have two major advantages over conventional antibiotics; no development of cross resistance and fewer side effects giving safer, more effective treatments with a longer market life.

Sorry, beer !!! Happy Christmas and 2018 going to be a little special I think.

Summit Therapeutics plc ('Summit' or the 'Company') SUMMIT OBTAINS INNOVATIVE ANTIBIOTIC DISCOVERY AND DEVELOPMENT PLATFORM THROUGH ACQUISITION OF DISCUVA LTD Positions Summit as a Leader in Research & Development of New Classes of Antibiotics Enhances Summit's Broader Business in Rare and Infectious Diseases Supports Mission to Discover and Develop Therapies for Patients in Areas of Substantial Unmet Need Conference Call to be Held 3 January 2018, 1:00pm GMT / 8:00am EST Oxford, UK, 23 December 2017 - Summit Therapeutics plc (NASDAQ: SMMT, AIM: SUMM), the drug discovery and development company advancing therapies for rare diseases and infectious diseases, announces it has obtained an innovative research and development platform for the generation of differentiated antibiotic compounds through its acquisition of Discuva Limited ('Discuva'), a privately held UK-based company. The acquisition expands Summit's interests in infectious diseases that are led by its flagship precision C. difficile infection ('CDI') antibiotic candidate ridinilazole. The Company is now better placed to advance additional potential drug treatments for patients with serious bacterial infections where there is substantial unmet need, while in parallel continuing to advance its clinical and research programme in Duchenne muscular dystrophy. "The global threat from multi-drug resistant bacterial infections continues to rise. There are few new antibiotics in development, with most of those being iterations of known classes of antibiotics, meaning there is an urgent need for the development of novel antibiotics," commented Mr Glyn Edwards, Chief Executive Officer of Summit. "With the acquisition, Summit is positioned as a leader in the research and development of new classes of antibiotics as exemplified by our precision antibiotic candidate ridinilazole for the treatment of C. difficile infection. Using this platform, we aim to generate a pipeline of new mechanism of action antibiotics that address other serious infectious disease threats." "Our vision is to prioritise the development of novel antibiotics against pathogens where an urgent unmet need exists and we have the ability to show advantages over current treatments," added Dr David Roblin, Chief Operating Officer and President of Research and Development of Summit. "The addition of this platform, coupled with our expertise in the discovery and clinical development of antibiotics, positions us to create new classes of antibiotics that target current and emergent bacterial threats for which there are only inadequate therapies." The proprietary bacterial genetics-based platform facilitates the discovery and development of novel, differentiated antibiotics. This platform combines transposon technology with bioinformatics to create a powerful tool to identify new antibacterial drug targets, elucidate antibiotic mechanisms of action and optimise against bacteri

Summit Therapeutics plc ('Summit' or the 'Company') SUMMIT OBTAINS INNOVATIVE ANTIBIOTIC DISCOVERY AND DEVELOPMENT PLATFORM THROUGH ACQUISITION OF DISCUVA LTD Positions Summit as a Leader in Research & Development of New Classes of Antibiotics Enhances Summit's Broader Business in Rare and Infectious Diseases Supports Mission to Discover and Develop Therapies for Patients in Areas of Substantial Unmet Need Conference Call to be Held 3 January 2018, 1:00pm GMT / 8:00am EST Oxford, UK, 23 December 2017 - Summit Therapeutics plc (NASDAQ: SMMT, AIM: SUMM), the drug discovery and development company advancing therapies for rare diseases and infectious diseases, announces it has obtained an innovative research and development platform for the generation of differentiated antibiotic compounds through its acquisition of Discuva Limited ('Discuva'), a privately held UK-based company. The acquisition expands Summit's interests in infectious diseases that are led by its flagship precision C. difficile infection ('CDI') antibiotic candidate ridinilazole. The Company is now better placed to advance additional potential drug treatments for patients with serious bacterial infections where there is substantial unmet need, while in parallel continuing to advance its clinical and research programme in Duchenne muscular dystrophy. "The global threat from multi-drug resistant bacterial infections continues to rise. There are few new antibiotics in development, with most of those being iterations of known classes of antibiotics, meaning there is an urgent need for the development of novel antibiotics," commented Mr Glyn Edwards, Chief Executive Officer of Summit. "With the acquisition, Summit is positioned as a leader in the research and development of new classes of antibiotics as exemplified by our precision antibiotic candidate ridinilazole for the treatment of C. difficile infection. Using this platform, we aim to generate a pipeline of new mechanism of action antibiotics that address other serious infectious disease threats." "Our vision is to prioritise the development of novel antibiotics against pathogens where an urgent unmet need exists and we have the ability to show advantages over current treatments," added Dr David Roblin, Chief Operating Officer and President of Research and Development of Summit. "The addition of this platform, coupled with our expertise in the discovery and clinical development of antibiotics, positions us to create new classes of antibiotics that target current and emergent bacterial threats for which there are only inadequate therapies." The proprietary bacterial genetics-based platform facilitates the discovery and development of novel, differentiated antibiotics. This platform combines transposon technology with bioinformatics to create a powerful tool to identify new antibacterial drug targets, elucidate antibiotic mechanisms of action and optimise against bacteri

Seriously positive news of people understanding what we have here and putting big money up. Not to be sniffed at and will attract others. Let's move on from the banter and look forward to more good news.

Getting a foot in the door over in the USA is substantiate news. Well done OPTI.

After the court case I was rather disapointed but I am still in and see a bright future here. Certainly a knock back, but we have value and potentially things could still be very positive. Bit more time to sort things out and then forward we go into a massive world market and the SP rising with us. Don't often average down but will make acception here. Good to see the buys coming in and 6p before too long.

Very odd. Pretty pathetic buys. Good luck if your in and it isn't a mistake.

10% tomorrow would be very nice. Not long now. Good luck.

Analysts thoughts across the pond Summit Therapeutics plc (SMMT): A 28.27% Rally In This Year � But Still Has Room To Grow 182.33% According to 6 stock analysts, Summit Therapeutics plc, is being kept at an average Buy, rating, with at least 0.11% of shares outstanding that are currently legally short sold. The shares of the corporation went down by -11.38% during the previous month. So far this year, the stock had gone up by 28.27%. With these types of results to display analysts, are more optimistic than before, leading 6 of analysts who cover Summit Therapeutics plc (NASDAQ:SMMT) advice their clients to include it in their buy candidate list. However, at the Wall Street, the shares for the company has been tagged a $31 price target, indicating that the shares will rally 182.33% from its current levels. At the moment, the stock is trading for about -34.88% less than its 52-week high.

Pfizer paid nearly $700M for Bamboo Therapeutics last year to increase it's presence in gene therapy including DMD. SUMM is definitely offering somebody a good deal at the moment and at a bargain price. I just get the feeling things could be going that way. Good luck.

Another good recovery day. NASDAQ following nicely. Absolutely agree with Walkley that preparations are now in place for a deal in the near future. SP has surely got to be multiples from where we are now when the news comes. I wonder if the company would ever consider splitting the company and dealing with the two multi million/billion pound commercial possibilities as separate entities ?? Very exciting times.

This is warming up very nicely. Added 2000 this morning. Price climbing and wanted to get in now before I left it too long. Get feeling big news could be around the corner. Good luck.

So far not too bad. I was expecting a further fall. Going to see what happens over the next few days and then try and pick up a couple of thousand shares at this rather tempting price, that's if it doesn't bounce up and I miss it.

Slightly odd tick up but very welcome. Will see 100% with the right news soon !!

More good news etc it would appear. Can't understand the rather large sells on the 4th.

Another pretty significant step for OPTI. In a very short time the company has secured some really promising deals and it's just the beginning. Very robust business plan that seems to be on track and financial rewards in due course. This will be a different beast in another 12-24 months and the SP will reflect it. Good luck all.

Just caught up with you ladies and chaps. Brilliant news and a real endorsement of the great work being done by the SUMM team in the States. SP should be much higher, perhaps soon !

Really excellent news and a few people realising that today's prices are very reasonable and the risk reduces significantly with these results. I think this is going to attract someone in the near future - at what price ??