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Summit Corporation Appoints Erik Ostrowski As Chief Financial Officer


6/23/2014 2:26:20 PM

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Oxford, UK, 23 June 2014 - Summit (AIM: SUMM), a drug discovery and development company advancing therapies for Duchenne Muscular Dystrophy ('DMD') and C. difficile infection ('CDI'), announces the appointment of Mr Erik Ostrowski as the Company's Chief Financial Officer with immediate effect. Mr Ostrowski will be based out of Cambridge, Massachusetts, where Summit recently established operations to provide greater interaction with academic, clinical and business leaders in the Company's areas of therapeutic development.

"I am pleased that Erik Ostrowski has decided to join Summit as he brings a broad range of skills and expertise in strategic, financial and operational matters that will enhance the quality of the Summit management team," commented Glyn Edwards, Chief Executive Officer. "His appointment is a reflection of the Company's continued growth and investment in our two clinical-stage programmes in DMD and CDI, and we look forward to Erik's contributions."

Erik Ostrowski, Summit's new Chief Financial Officer added, "I am delighted to be joining Summit at this exciting time in the development of the Company's clinical programmes that target DMD and CDI, two devastating diseases that do not have adequate treatment options. I look forward to working with the strong management team to progress these independent programmes towards important clinical milestones that may add considerable commercial value."

Following today's announcement, Mr Raymond Spencer will assume a strategic and transactional role within the Company.

The Company's operations and undertaking in the US are being conducted through the wholly owned subsidiary, Summit Therapeutics Inc., which is incorporated in Delaware.

About Erik Ostrowski

Mr Erik Ostrowski (age 41) has a unique blend of skills and expertise from a 20-year career that has been focused on advancing businesses in the healthcare sector. Prior to joining Summit, Erik was Vice President of Finance at Organogenesis, a US commercial-stage biotechnology company. At Organogenesis, he was involved in a wide range of activities spanning investor communications, capital raising and M&A, as well as in tactical initiatives encompassing all aspects of the business. Prior to that, Mr. Ostrowski worked in investment banking for 10 years, most recently as a Director in Leerink Partners' healthcare investment banking group. Over the course of his investment banking career he was involved in a range of capital raise activities including IPOs and secondary financings, and advised on a variety of strategic transactions. Mr Ostrowski holds an MBA from the University of Chicago's Booth School of Business and a Bachelors of Science in accounting and economics from Babson College. He began his career at PricewaterhouseCoopers and earned his certified public accountant designation in Massachusetts.

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Notes to Editors

About Summit

Summit is an Oxford, UK based drug discovery and development company targeting high-value areas of unmet medical need including Duchenne Muscular Dystrophy and C. difficile infection. Summit is quoted on the AIM market of the London Stock Exchange and trades under the ticker symbol SUMM. Further information is available at www.summitplc.com and Summit can be followed on Twitter (@summitplc).

For more information, please contact:

Summit
Glyn Edwards / Richard Pye
Tel: +44 (0)1235 443 939
Cairn Financial Advisers LLP
(Nominated Adviser)
Liam Murray / Tony Rawlinson
Tel: +44 (0)20 7148 7900
N+1 Singer
(Broker)
Aubrey Powell / Will Goode
Tel: +44 (0)20 7496 3000
Peckwater PR
(Financial public relations, UK)
Tarquin Edwards
Tel: +44 (0)7879 458 364
tarquin.edwards@peckwaterpr.co.uk
MacDougall Biomedical Communications
(US media contact)
Michelle Avery Tel: +1 781-235-3060


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