Date: 2012-10-22
Type of information: Subvention
Company: Summit (UK)
Investors: Wellcome Trust (UK)
Amount: £4.0 million (€4.9 million)
Funding type: award
Planned used: This award will be used to support the development of SMT 19969 to clinical proof of concept studies.
Others: Under the terms of the award, Summit will be eligible for up to £4.0 million in staged, success-based payments. Summit will immediately receive £1.26 million that will support a Phase 1 clinical trial in healthy volunteers and additional non-clinical studies designed to enhance the clinical data package. The Phase 1 trial is expected to commence by the end of 2012 with results expected in H1 2013. A successful outcome would trigger a further three payments from the Wellcome Trust with these contributing significantly towards undertaking a Phase 2 proof of concept trial in patients. * On June 17, 2013, Summit, a drug discovery and development company advancing therapies for Duchenne Muscular Dystrophy and C. difficile infections (‘CDI’), has announced that it has achieved a clinical research milestone in the development of its novel CDI antibiotic SMT 19969 triggering a £740,000 payment under the Company’s existing Translation Award from the Wellcome Trust. The milestone was achieved after SMT 19969 successfully completed a Phase 1 clinical trial in healthy volunteers. The funding will support the on-going clinical development of the programme. Current development activities are focussed on preparing SMT 19969 to enter Phase 2 clinical proof of concept trials in patients with CDI. This work includes the manufacture of the final dose form of SMT 19969 and finalising the design of the patient trial with the regulators and company clinical advisors. It is anticipated that a Phase 2 clinical trial will commence in H1 2014.
* On October 22, 2012, Summit has extended its partnership with the Wellcome Trust through a translational research award worth up to £4.0 million ($6.5 million) to support the development of SMT 19969 to clinical proof of concept studies. SMT 19969 is a novel, oral small molecule being developed as a specific antibiotic for the treatment of infections caused by C. difficile.
The award is being made as part of the Wellcome Trust’s Translation Award programme. This represents the second funding award the Wellcome Trust has made to support Summit’s C. difficile antibiotic programme and follows an award made under the Seeding Drug Discovery Initiative in 2009. A new funding agreement has been signed under which the Wellcome Trust share in net revenues generated by commercialisation of the programme.
The translational award will be drawn-down in staged-payments as follows:
Payment Released on
£1.26 million Start of translational award
£0.74 million Completion of Phase 1 clinical trial
£1.9 million Submission of Phase 2 IND/CTA
£0.1 million Completion of Translational Award
Therapeutic area: Rare diseases - Neuromuscular diseases - Infectious diseases
