SUMM.L Regulatory News (SUMM)

8 Aug 2007 07:01

Summit Corporation PLC08 August 2007 Summit Corporation plc ("Summit" or "the Company") ZEBRAFISH DATA SUPPORTS NEW DRUG CANDIDATE MOVING INTO HUMAN CLINICAL TRIALS Data Form Part of a Successful Safety and Toxicity Filing to the UK's Regulatory Agency MHRA Oxford, UK, 8 August 2007 - Summit Corporation plc (AIM: SUMM), a leading UKbiotechnology company, announces that, for the first time, data generated by itszebrafish technology platform about the safety and toxicity of potential drugcandidates has formed part of a successful submission to the UK's Medicines andHealthcare products Regulatory Agency ("MHRA"). This submission has permittedSummit's client, an unnamed UK biotechnology company, to advance its candidateinto Phase I human clinical trials. Summit has built a world-leading capability in testing potential drug compoundsusing zebrafish. This capability is extremely valuable to drug developmentcompanies as it rapidly provides important whole organism data about the safetyand toxicity of drug-like molecules and is predictive of effects that might beseen in humans. This technology has the potential to accelerate the discoveryprocess and reduce overall costs relating to drug candidates that mightotherwise fail as a result of safety or toxicity issues in later stages ofdevelopment. Summit's market-leading zebrafish technology platform, which can also be used togenerate models of human disease for target validation activities, has been usedby seven of the world's top ten pharmaceutical companies in the past 12 months. Steven Lee, PhD, CEO of Summit said: "The use of our zebrafish safety andtoxicity data as part of a regulatory safety submission is very significant andexciting for Summit. The acceptance of this submission by the MHRA demonstratesunderstanding of the data our zebrafish platform produces and a high level ofconfidence in this technology. Furthermore, the success of our client'ssubmission provides further validation of the value this technology brings toearly stage drug discovery and as a Company we are confident this will continueto be recognised by the wider industry." - ends - For more information please contact: Summit plc Steven Lee, PhD, Chief Executive Officer Tel: +44 (0)1235 443910 Darren Millington, ACMA, Chief Financial Officer Richard Pye, PhD, Investor Relations Citigate Dewe Rogerson Mark Swallow / David Dible / Valerie Auffray Tel: +44 (0)207 638 9571 Evolution Securities Tim 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