Summit plc Presents Zebrafish Data at International Safety Pharmacology Conference
OXFORD, England, 24 September 2007 - Summit Corporation plc (AIM: SUMM) today announces that safety pharmacology data generated by its market-leading zebrafish technology platform was presented at the 7th Annual Meeting of the Safety Pharmacology Society held in Edinburgh between 19-21 September and attended by all the major pharmaceutical companies.
The zebrafish data presented at the conference included positive results from several studies that illustrated how the zebrafish can be used to assess the safety of potential drug candidates including the screening of known drugs in a range of organs that are conserved between zebrafish and humans, such as the heart, eye and gut. Summit also highlighted additional, new aspects of the Company's zebrafish technology platform, including an advanced automation facility that increases throughput of compound screening to produce faster analysis of efficacy and safety.
Steven Lee, CEO of Summit plc, commented: "Following a number of high-profile drug failures in recent years on safety grounds, the importance of safety pharmacology is now an integral part of the drug discovery process. This conference represents the major international forum for discussing new technologies and methods to assess the safety of new potential drug candidates as part of the drive to reduce the high attrition rates within the industry. "The results we have presented at this conference highlight the value that Summit's world-leading zebrafish technology platform brings to this process, and this value is being recognised ever more by the wider pharmaceutical and life science industries. To date, we have worked with seven of the top ten pharmaceutical companies in this area, providing increasing validation of our approach, and we look forward to engaging further with both them and the sector as a whole."
- ENDS - For more information, please contact: Summit plc Steven Lee, PhD, Chief Executive Officer Darren Millington, ACMA, Chief Financial Officer Richard Pye, PhD, Investor Relations Tel: +44 (0)1235 443951
Citigate Dewe Rogerson Mark Swallow / David Dible / Yvonne Alexander 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 develops proprietary new drugs. The Company's internal drug development programmes are underpinned by its advanced carbohydrate chemistry and drug screening (chemical genomics) technology platforms, which it also provides on a collaborative or fee-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 diseases with 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-class expertise in both carbohydrate chemistry with high-volume, high-content screening using its proprietary zebrafish and fruitfly technologies (chemical genomics). These whole organism screens have the potential to dramatically decrease the time and cost of drug discovery and development by delivering data that are highly predictive of the efficacy and toxicity of potential drug compounds in humans. The company listed on the AIM market of the London Stock Exchange in October 2004 - symbol: SUMM Further information about the company is available at www.summitplc.com
This document contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "anticipates", "intends", "plans", "seeks", "believes", "estimates", "expects" and similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements are based on the Company's current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. The Company's actual results may differ materially from those contemplated by the forward-looking statements. The Company cautions you therefore that you should not rely on any of these forward-looking statements as statements of historical fact or as guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements and regional, national, global political, economic, business, competitive, market and regulatory conditions.
Mark Swallow, Ph.D. Citigate Dewe Rogerson
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Posted: September 2007