SUMMIT SECURES $1.5M AGREEMENT WITH US DMD ORGANISATIONS
• Proceeds to fully fund new Phase I clinical trial of Summit's potential first-in-class DMD drug SMT C1100
• SMT C1100 has the potential to treat all DMD patients
Oxford, UK, 19 December 2011, Summit (AIM: SUMM), a UK drug discovery company, announces that it has entered into agreements collectively worth $1.5 million with several US-based organisations for its utrophin upregulation drug candidate SMT C1100 for the treatment of the fatal neuromuscular disease Duchenne Muscular Dystrophy ('DMD'). The funding comprises of $750,000 from the Muscular Dystrophy Association ('MDA'), $250,000 from Parent Project Muscular Dystrophy ('PPMD') and $500,000 from a group of four independent Duchenne foundations spanning the US:
Charley's Fund, Cure Duchenne, Foundation to Eradicate Duchenne and the Nash Avery Foundation. Under the terms of the agreements, Summit retains full ownership of this asset.
Good news. Thanks to MDA, PPMD and others! I thought Summit was telling that the trial would start with DMD patients straight away, but I'd guess FDA would like the new formulation testing to start from the healthy volunteers.
John Tinsley had stated on earlier thread about Summit where he explained that the new formulation was sufficiently different from old that they would start over at Phase 1 where they test for safety on healthy adults.
He also indicated that the location of Phase 1 safety trials and Phase 2 trials will not necessarily be the same, meaning Phase 2 could be in the US.