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Glyn Edwards Appointed as Chief Executive Officer of Summit Corporation


4/4/2012 6:41:57 AM

Oxford, UK, 4 April 2012, Summit (AIM: SUMM), a UK drug discovery company, today announces that Mr Glyn Edwards has been appointed as the Company’s new Chief Executive Officer. Glyn will take up the position with immediate effect and will also join the Company’s Board of Directors. Dr Barry Price will reassume the position of Non-Executive Chairman of Summit.

Glyn Edwards has a wealth of expertise garnered from a thirty-year career in the life sciences industry, during which time he has held a number of senior executive and business development roles. Glyn has a proven commercial track record of successfully partnering drug programmes with major pharmaceutical companies having completed a number of multi-million dollar headline licensing deals.

Barry Price, PhD, Chairman of Summit commented: “The Board is delighted to appoint Glyn Edwards as Summit’s new Chief Executive Officer because of his substantial experience of the life sciences industry and proven commercial track record. The Company is entering a pivotal stage in its development as key drug programmes approach important milestones, and the Board is confident that under Glyn’s leadership, Summit will generate value growth for our shareholders.”

Glyn Edwards, Chief Executive Officer of Summit added: “I am pleased to be joining Summit at what I believe is an exciting stage in its development. The Company has a number of promising drug programmes and an innovative technology platform, and I look forward to working with the team to uncover the potential of these assets.”

Glyn Edwards holds 400,000 shares (0.21%) of the current issued share capital in the Company. No further disclosures are required under Rule 17 and Schedule 2(g) of the AIM Rules. Glyn is currently a Director of Oxford Cancer Biomarkers Limited and the National Cancer Research Institute. Glyn is the interim Chief Executive Officer of the UK trade body, the BioIndustry Association (‘BIA’) and he will be stepping down from this role shortly.

For more information, please contact:

Summit

Barry Price, PhD,

Glyn Edwards

Richard Pye, PhD

Tel: +44 (0)1235 443 939

Singer Capital Markets

(Nominated Adviser and Joint broker)

Shaun Dobson / Claes Spång

Tel: +44 (0)203 205 7500

Hybridan LLP

(Joint broker)

Claire Louise Noyce / Deepak Reddy

Tel: +44 (0)207 947 4350

Peckwater PR

(Financial public relations)

Tarquin Edwards

Tel: +44 (0)7879 458 364

tarquin.edwards@peckwaterpr.co.uk

About Glyn Edwards

Glyn Edwards is currently a Director of Oxford Cancer Biomarkers Limited and the National Cancer Research Institute and the interim Chief Executive Officer of the BioIndustry Association (‘BIA’), a role from which he will step down from shortly. He was previously Chief Executive Officer of Antisoma from 1998-2011 and prior to this he worked in a variety of business development roles in the biotech and healthcare industries. Glyn was also a member of the BIA Board and a director of Elara Associates Limited, a small consultancy business. Mr Edwards has a BSc in Biochemistry from Bristol University and an MSc in Economics from the London Business School. Glyn was made a Member of the British Empire as recognition for his services to the biotechnology industry.

About Summit

Summit is an Oxford, UK based drug discovery Company with an innovative Seglin™ technology platform for the discovery of new medicines and a portfolio of drug programme assets. Summit’s programme portfolio consists of a number of drug programmes targeting high-value areas of unmet medical need including Duchenne Muscular Dystrophy and C. difficile infection. 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.

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.


Read at BioSpace.com


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