Evolva and Summit sign worldwide licensing agreement in infectious diseases for imino sugar compound SMT 14400
Basel, Switzerland – January 2009 – Evolva SA, an international biotech company focused on the discovery and development of drugs based on genetic chemistry approaches, is pleased to announce that it has entered into an exclusive worldwide licensing agreement with the UK Company, Summit Corporation plc (“Summit”). The agreement covers EV-009–4400 (SMT 14400), a second generation imino sugar, which is being developed as potential treatments for infectious diseases associated with bio-terrorism.
The compound is an immunomodulator that works by selectively boosting aspects of the human immune system. Evaluation of EV-009–4400 (SMT 14400) in recent in vivo preclinical studies with a selection of pathogens potentially associated with bio-terrorism has shown the compound to be active against both viral and bacterial pathogens, and to be well tolerated. Evolva has a strong capability in this area and has attracted significant funding from the Defense Threat Reduction Agency (“DTRA”), a US-federal body developing technologies to counter the threat of biological agents.
Under the terms of the license, Summit will receive an undisclosed payment from Evolva on signature.
Neil Goldsmith, CEO of Evolva said “We are encouraged by the data we have observed to date on this compound and look forward to working with both Dextra and Summit to progress it towards human studies and beyond.”
Steven Lee, Chief Executive Officer at Summit commented “I am very pleased to sign this licensing agreement with Evolva who through their first class operations in this specialist area of infectious diseases will offer the best opportunity to progress this compound rapidly to clinical development.”
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For more information, please contact:
Evolva
Neil Goldsmith, CEO Tel +41 61 485 2005 Mob +41 79 54 33 111
Summit plc
Steven Lee, PhD, Chief Executive Officer Tony Weir, Chief Financial Officer Richard Pye, PhD, Investor Relations Tel: +44 (0)1235 443951; +44 (0)7825 313476
Citigate Dewe Rogerson
Mark Swallow, PhD / David Dible / Emma Palmer Foster Tel: +44 (0)207 638 9571
Panmure Gordon
Andrew Burnett / Rakesh Sharma (Corporate Finance) Ashton Clanfield (Corporate Broking) Tel: +44 (0)207 459 3600
About Evolva
Evolva uses genetic chemistry technology platforms to replicate, on an industrial basis, the ability of nature to create molecules with exquisite “design”. Development activities focus primarily on cardiovascular and infectious disease. For more information see www.evolva.com.
About Summit plc
Summit is a leading UK biotechnology company with a broad preclinical and clinical pipeline, two world-leading technology platforms and an innovative business model that is expected to generate sustainable value for investors. Summit is developing multiple drug programmes that target unmet medical needs from which it intends to generate value by out-licensing attractive late preclinical or early clinical stage programmes in return for upfront, milestone and royalty payments. Summit uses its scientific expertise to target orphan diseases, neuro-disorders and infectious diseases. Further information about the company is available at www.summitplc.com.