Directorate change
(Thomson Reuters ONE) -
Summit Corporation plc
("Summit" or "the Company")
DIRECTOR CHANGE
Oxford, UK, 7 December 2010, Summit (AIM: SUMM), a UK drug discovery Company,
announces that its Chief Executive Officer, Dr Steven Lee, has left the Company
to pursue other business opportunities with Dr Barry Price becoming Executive
Chairman.
Dr Price brings to the role substantial experience and operational execution
expertise that has been garnered from a successful 40-year career in the life
sciences industry. During this time, he has held senior executive and Board
level positions at a number of successful UK companies including Chiroscience
plc, Celltech Group plc and until recently Shire plc.
Barry Price, PhD, Executive Chairman of Summit, commented: "On behalf of the
Board, I would like to thank Steven for his considerable effort and commitment
during his time with Summit and he leaves with our best wishes for the future.
The Board's strategy remains focussed on exploiting the commercial potential of
our innovative Seglin(TM) technology platform and drug programme assets. Summit
continues to target completion of a commercial deal in the first half of 2011
and working towards creating a sustainable business for the benefit of all
stakeholders."
- END -
For more information, please contact:
Summit
Barry Price, PhD,
Richard Pye, PhD Tel: +44 (0)1235 443 939
Singer Capital Markets (Nominated Adviser)
Shaun Dobson / Claes Spång Tel: +44 (0)20 3205 7500
Peckwater PR
Tarquin Edwards Tel: +44 (0)7879 458 364
tarquin.edwards(at)peckwaterpr.co.uk
Notes to Editors
About Summit
Summit is an Oxford, UK based drug discovery company with an innovative platform
called Seglins(TM) technology for the discovery of new medicines, a portfolio of
drug programme assets and a commercial strategy of signing multiple early-stage
deals.
Seglin(TM) technology is using new chemistry to access biological drug targets
that cannot be exploited by conventional drug discovery approaches. Summit's
internal research is currently focussed in the high-value therapy areas of
metabolic and infectious diseases and the Company will further exploit the
technology's wider potential through strategic alliances. Summit's programme
portfolio consists of a number of drug programmes that require no further
investment from the Company but have the potential to deliver future upside for
the business.
Summit's commercial strategy focuses on signing multiple early-stage drug
programme and technology platform deals that generate upfront cash, remove
development costs from the Company, and retain valuable upside potential.
Summit is listed on the AIM market of the London Stock Exchange and trades under
the ticker symbol SUMM. Further information is available at www.summitplc.com.
About Dr Barry Price
Dr Price joined Summit as Non-executive Chairman in September 2006 and has a
wealth of industry and board-level expertise in the pharmaceutical and life
sciences industries.
Previously, he spent over 25 years with the Glaxo Group of companies and held
several executive positions including Managing Director of Glaxochem Ltd. Dr
Price was a Non-executive Director of Shire plc and during his 14 years with the
company, he was involved in Shire developing into one of the UK's largest life
science companies. Dr Price is currently Chairman of Antisoma plc and has
previously held directorships at Chiroscience plc, Celltech Group plc,
Pharmagene plc and BioWisdom Ltd.
Forward Looking Statements
This document contains "forward-looking statements" within the meaning of the
U.S. Private Securities Litigation Reform Act of 1995. Forward-looking
statements can be identified by words such as "anticipates", "intends", "plans",
"seeks", "believes", "estimates", "expects" and similar references to future
periods, or by the inclusion of forecasts or projections.
Forward-looking statements are based on the Company's current expectations and
assumptions regarding our business, the economy and other future conditions.
Because forward-looking statements relate to the future, by their nature, they
are subject to inherent uncertainties, risks and changes in circumstances that
are difficult to predict. The Company's actual results may differ materially
from those contemplated by the forward-looking statements. The Company cautions
you therefore that you should not rely on any of these forward-looking
statements as statements of historical fact or as guarantees or assurances of
future performance. Important factors that could cause actual results to differ
materially from those in the forward-looking statements and regional, national,
global political, economic, business, competitive, market and regulatory
conditions.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Summit Corporation PLC via Thomson Reuters ONE
[HUG#1469615]
Unternehmensinformation / Kurzprofil:
Datum: 07.12.2010 - 08:00 Uhr
Sprache: Deutsch
News-ID 49458
Anzahl Zeichen: 6191
contact information:
Town:
Abingdon,
Kategorie:
Business News
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"Directorate change"
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