Summit Awarded Additional $12 Million by BARDA for Phase 3 Development Programme of Ridinilazole for the Treatment of C. difficile Infection

Summit Therapeutics (NASDAQ:SMMT, AIM:SUMM), a leader in antibiotic innovation, today announces that it has been awarded an additional $12 million under its contract with the Biomedical Advanced Research and Development Authority (BARDA), a division of the U.S. Department of Health and Human Services, Office of the Assistant Secretary for Preparedness and Response. The funds will support the Phase 3 development programme for ridinilazole, the Company’s precision new mechanism antibiotic for the treatment of C. difficile infection.

As quoted in the press release:

“BARDA’s continued support underlines the promise ridinilazole has as a potential front-line CDI treatment option which can treat the initial infection and address the key clinical issue of recurrent disease,” commented Mr Glyn Edwards, Chief Executive Officer of Summit. “We look forward to the planned initiation of the Phase 3 clinical trials which remains on track for the first quarter of 2019.”

Today’s award represents the first of three optional awards to be exercised under the BARDA contract. It brings the total committed BARDA funding to $44 million, which includes the base package of $32 million announced in September 2017. If BARDA exercises its remaining options in full, the total funding under the contract would increase up to $62 million. The $12 million in funding will be drawn down to specifically support drug manufacturing activities required for the submission of marketing approval applications and other regulatory activities.

Click here to read the full press release.