SUMM.L Regulatory News (SUMM)

23 Oct 2007 07:02

Summit Corporation PLC23 October 2007 Summit Corporation plc("Summit" or "the Company") SUMMIT PLC BEGINS PHASE I CLINICAL TRIAL IN SEBORRHOEA - A SYMPTOM OFPARKINSON'S DISEASE AND THE PRIMARY CAUSE OF ACNE Oxford, UK, 23 October 2007 - Summit Corporation plc (AIM: SUMM) announces thecommencement of a Phase I clinical trial of SMT D002 for the treatment ofseborrhoea (excessive sebum production), a symptom of Parkinson's disease andthe primary cause of acne. The recruitment of 18 healthy volunteers for the trial is complete with dosingnow underway; treatment is expected to last for five weeks. The study willexamine the effects of repeat oral doses of SMT D002 on sebum excretion ratesand thereby add to results of an earlier double-blind Phase I study in healthyvolunteers using a single oral dose that showed up to a 70% reduction in sebumexcretion. Summit expects to report the results from this new study during Q12008. In addition to treating seborrhoea in Parkinson's disease, Summit believes thatSMT D002 also has potential use in other therapeutic areas, particularly acnewhere a reduction in sebum levels would be beneficial. SMT D002 would representa brand new treatment for acne and future studies planned under its programme inboth areas will assess the potential of SMT D002 in a topical formulation aswell as oral, in order to establish proof of concept and to create an attractivecommercial offering for out-licensing. SMT D002 has been developed using Summit's drug reprofiling expertise wherebythe Company has identified these new indications in Parkinson's disease and acnefor a marketed, off-patent small molecule drug that has a long, establishedhistory of safe use. The Company has a strong patent position to protect theuse of SMT D002 in these new indications. Steven Lee, CEO of Summit plc, commented "In March 2007, Summit acquired twoearly clinical programmes that target two of the distressing symptoms associatedwith Parkinson's disease - sialorrhoea and seborrhoea - when it acquiredDanioLabs. Our strategy with these programmes is to advance them to demonstrateclinical proof of concept, thereby adding value and improving their commercialattractiveness to potential licensees. The start of this new clinical trial inseborrhoea, in addition to progress we have made with our drug candidate totreat sialorrhoea (excessive drooling), which is expected to enter a Phase I/IIaclinical trial by the end of 2007, is indicative of the solid progress beingmade in our enhanced drug discovery and development pipeline towards ourcommercial objectives." - ENDS - For more information, please contact:Summit plcSteven Lee, PhD, Chief Executive Officer Tel: +44 (0)1235 443951Darren Millington, ACMA, Chief Financial OfficerRichard Pye, PhD, Investor Relations Citigate Dewe RogersonMark Swallow / David Dible / Yvonne Alexander Tel: +44 (0)207 638 9571 Evolution SecuritiesTim Worlledge / Bobbie Hilliam / Neil Elliot Tel: +44 (0)207 071 4300 About Summit plc Summit plc is a leading UK biotechnology company that discovers and developsproprietary new drugs. The Company's internal drug development programmes areunderpinned by its advanced carbohydrate chemistry and drug screening (chemicalgenomics) technology platforms, which it also provides on a collaborative orfee-for-service basis to the pharmaceutical industry. Summit plc has a broad range of drug discovery programmes in the clinical,pre-clinical and discovery stages of development, which target serious diseaseswith a high unmet medical need. These therapeutic areas include neuro-disorders(neurodegenerative and neuromuscular), anti-infectives, ophthalmic diseases,oncology and regenerative medicines. Summit plc's in-house drug development capabilities combine world-classexpertise in both carbohydrate chemistry with high-volume, high-contentscreening using its proprietary zebrafish and fruitfly technologies (chemicalgenomics). These whole organism screens have the potential to dramaticallydecrease the time and cost of drug discovery and development by delivering datathat are highly predictive of the efficacy and toxicity of potential drugcompounds in humans. The company listed on the AIM market of the London Stock Exchange in October2004 - symbol: SUMM Further information about the company is available at www.summitplc.com This document contains "forward-looking statements" within the meaning of theU.S. Private Securities Litigation Reform Act of 1995. Forward-lookingstatements can be identified by words such as "anticipates", "intends", "plans","seeks", "believes", "estimates", "expects" and similar references to futureperiods, or by the inclusion of forecasts or projections. Forward-looking statements are based on the Company's current expectations andassumptions regarding our business, the economy and other future conditions.Because forward-looking statements relate to the future, by their nature, theyare subject to inherent uncertainties, risks and changes in circumstances thatare difficult to predict. The Company's actual results may differ materiallyfrom those contemplated by the forward-looking statements. The Company cautionsyou therefore that you should not rely on any of these forward-lookingstatements as statements of historical fact or as guarantees or assurances offuture performance. Important factors that could cause actual results to differmaterially from those in the forward-looking statements and regional, national,global political, economic, business, competitive, market and regulatoryconditions. This information is provided by RNS The company news service from the London Stock Exchange