Summit and Evolva in deal for SMT 14400

Summit Corp, a UK drug discovery company, has entered into an exclusive worldwide licensing agreement with the Swiss company, Evolva Biotech SA.  This covers SMT 14400, a second-generation imino sugar, which is being  developed as a potential treatment for infectious diseases associated  with bio-terrorism. The licensing deal supersedes the co-development  accord entered into by the two companies in July 2007.

Under the terms of the licence, Summit will receive an undisclosed  amount from Evolva on signature, as well as payments throughout  preclinical development, a milestone on filing of an Investigational New  Drug application (anticipated in 2010) and further development and  regulatory milestone payments. Evolva will be responsible for all  development costs with the initial synthesis work being contracted to  Summit's subsidiary services business, Dextra Laboratories. On  successful commercialization, Summit will receive tiered royalties,  rising to a low-teen percentage, and sales-related milestone payments.

SMT 14400 originated from Summit's proprietary collection of  second-generation imino sugars that it is developing in a range of  therapeutic areas. The compound is an immunomodulator that works by  selectively boosting aspects of the human immune system. Evaluation of  SMT 14400 by Evolva in recent in vivo preclinical studies with a  selection of pathogens potentially associated with bio-terrorism has  shown the compound to be active against both viral and bacterial  pathogens, and to be well tolerated.