SUMM.L Regulatory News (SUMM)

24 Sep 2007 09:00

Summit Corporation PLC24 September 2007 Summit Corporation plc("Summit" or "the Company") SUMMIT PRESENTS ZEBRAFISH DATA AT INTERNATIONAL SAFETY PHARMACOLOGY CONFERENCE Data presented highlight the value zebrafish safety screening brings to drugdiscovery Oxford, UK, 24 September 2007 - Summit Corporation plc (AIM: SUMM) todayannounces that safety pharmacology data generated by its market-leadingzebrafish technology platform was presented at the 7th Annual Meeting of theSafety Pharmacology Society held in Edinburgh between 19-21 September andattended by all the major pharmaceutical companies. The zebrafish data presented at the conference included positive results fromseveral studies that illustrated how the zebrafish can be used to assess thesafety of potential drug candidates including the screening of known drugs in arange of organs that are conserved between zebrafish and humans, such as theheart, eye and gut. Summit also highlighted additional, new aspects of theCompany's zebrafish technology platform, including an advanced automationfacility that increases throughput of compound screening to produce fasteranalysis of efficacy and safety. Steven Lee, CEO of Summit plc, commented: "Following a number of high-profiledrug failures in recent years on safety grounds, the importance of safetypharmacology is now an integral part of the drug discovery process. Thisconference represents the major international forum for discussing newtechnologies and methods to assess the safety of new potential drug candidatesas part of the drive to reduce the high attrition rates within the industry. "The results we have presented at this conference highlight the value thatSummit's world-leading zebrafish technology platform brings to this process, andthis value is being recognised ever more by the wider pharmaceutical and lifescience industries. To date, we have worked with seven of the top tenpharmaceutical companies in this area, providing increasing validation of ourapproach, and we look forward to engaging further with both them and the sectoras a whole." Please contact Richard Pye (richard.pye@summitplc.com) or Mark Swallow(mark.swallow@citigatedr.co.uk) for a copy of the materials presented. - ENDS - For more information, please contact: Summit plc Steven Lee, PhD, Chief Executive Officer Tel: +44 (0)1235 443951 Darren Millington, ACMA, Chief Financial Officer Richard Pye, PhD, Investor RelationsCitigate Dewe Rogerson Mark Swallow / David Dible / Yvonne Alexander Tel: +44 (0)207 638 9571Evolution 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