Summit Therapeutics nabs another $12 million from BARDA for C difficile drug

16 August 2018

Anglo-American antibiotics developer Summit Therapeutics (Nasdaq: SMMT) opened up more than 10% on Thursday following news that it is to receive further US government funding for its C difficile infection (CDI) drug candidate.

Summit will receive an additional $12 million under its contract with the Biomedical Advanced Research and Development Authority (BARDA), a division of the US Department of Health and Human Services, to support the Phase III development program for ridinilazole.

The award represents the first of three optional awards to be exercised under the BARDA contract. It brings the total committed BARDA funding to $44 million, which includes the base package of $32 million announced in September 2017.

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