Summit Awarded up to $4.5 Million Grant from CARB-X for Development of New Mechanism Gonorrhoea Antibiotics
Non-Dilutive Funding Could Support Development through Completion of a Phase 1 Clinical Trial
Oxford, UK, and Cambridge, MA, US, 10 July 2018 – Summit Therapeutics plc (NASDAQ: SMMT, AIM: SUMM) announces it has been awarded up to $4.5 million from CARB-X, a public-private partnership devoted to accelerating early antibiotic research and development. This award will be used to support Summit’s wholly-owned, lead series of new mechanism antibiotic compounds for gonorrhoea. Gonorrhoea is recognised as an urgent bacterial threat by the US Centers for Disease Control (‘CDC’) due to the diminishing treatment arsenal. There is currently only one treatment option for gonorrhoea recommended by the CDC.