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
Qualcomm Inc.'s former Chairman Paul Jacobs plans to acquire the chipmaker founded by his father and has approached several global investors in an effort to fund the buyout, the Financial Times reported. According to the report, Jacobs informed members of the Qualcomm board about his intention to take the company private. Qualcomm has a market capitalization of $90 billion. Tiffany & Co. (TIF) reported fourth-quarter net earnings of $62 million, or $0.50 per diluted share, which were 61% below the prior year's $158 million, or $1.26 per diluted share. The company recorded tax-related charges in the fourth quarter of 2017 and certain impairment charges in last year's fourth... BlackBerry has extended the term of its Chief Executive Officer and Executive Chairman John Chen through 2023. He has been heading the company for the last five years. Chen joined BlackBerry when the smartphone pioneer was going through a troubled time. He was focused on overhauling with a special focus on diversification. BlackBerry, the former leader in the smartphone space, is now into auto m
comments powered by Disqus
Follow RTT