logo
Share SHARE
FONT-SIZE Plus   Neg

Summit Signs Technology License Deal With Bristol-Myers Squibb

UK-based drug company Summit Corp plc. (SUMM.L) Tuesday said it entered into a technology-license agreement with Bristol-Myers Squibb. Summit's Seglin technology, which develops drug candidates for up to ten targets across multiple therapeutic areas, is of interest to Squibb, which will pay a $100 thousand technology access fee plus regulatory milestones of up to $30 million per product synthesized to Summit.

Bristol-Myers Squibb shall take responsiblity for the discovery stage of the research and have exclusive rights to develop and commercialize all Seglin products identified, said Summit in a statement.

The stock is currently trading at 2.50 pence, up 0.13 pence or 5.26 percent on the LSE.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Bimbo Bakeries is recalling packages of certain bread products across 11 states, after it received three consumer-reports of small pieces of glass found on the outside of the bread. Design software maker Autodesk, Inc. said Thursday after the markets closed that it swung to a second quarter loss, hurt by lower revenue and a hefty tax charge. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast. GameStop reported an increase in second-quarter profit, driven by strong same-store sales growth and improved margins, partly offset by a stronger dollar and one-time charges. Both earnings and sales surpassed Wall Street estimates. The video-game retailer lifted its guidance for 2015. GameStop shares gained about 2 percent in after-hours trade.
comments powered by Disqus
Follow RTT