Breaking News
FONT-SIZE Plus   Neg
Share SHARE

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.

Click here to receive FREE breaking news email alerts for Summit Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Swiss drug maker Roche Holding said a late-stage trial of its breast cancer drug Kadcyla did not provide superior results compared with an existing therapy. FCA US, until recently known as Chrysler, said Friday it is recalling 257,000 Dodge Ram pickups. The auto maker says the rear axle pinion nut on certain model year 2005 Dodge Ram 1500 trucks may loosen due to an undersized spline on the pinion gear. If the pinion nut loosens, the rear axle may... This medical device company has a very impressive track record of growing business over the past decade. increasing sales from $490.2 million in 2004 to $1.72 billion this year. The Silicone Hydrogel daily disposable lens portfolio constitutes a major avenue for growth.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.