Summit Corporation plc
("Summit plc" or "the Company")
APPOINTMENT OF TONY WEIR AS CHIEF FINANCIAL OFFICER
Oxford, UK, 28 October 2008 - Summit Corporation plc (AIM: SUMM), a
leading UK biotechnology company, is pleased to announce the
appointment of Mr Tony Weir (age 48) as the new Chief Financial
Officer and member of the Board of Directors of the Company with
effect from 17 November 2008.
Mr Weir will join Summit plc from Vernalis plc (LSE: VER) where he
held the position of Chief Financial Officer for almost ten years.
During that time, he guided the company through a range of
transactions, including M&A, licensing deals and raising of finance.
He is a Fellow of the Institute of Chartered Accountants, holds a
degree in Mathematics from the University of Oxford and is also a
non-executive director of Biocompatibles International plc.
Barry Price, PhD, Chairman of Summit, commented: "On behalf of the
Board I would like to welcome Tony to Summit. We are delighted to
have attracted someone of his calibre who will bring considerable
financial experience as well as a deep understanding of the UK
biotechnology sector. These qualities will be of great importance
for Summit in meeting the future challenges we face in continuing to
build a successful business."
There is no further information required to be disclosed in
accordance with Schedule 2, paragraph (g) of the AIM Rules for
- ENDS -
For more information, please contact:
Steven Lee, PhD, Chief Executive Officer
Richard Pye, PhD, Investor Relations
Tel: +44 (0)1235 443951; +44 (0)7825 313476
Citigate Dewe Rogerson
Mark Swallow, PhD / David Dible / Emma Palmer Foster
Tel: +44 (0)207 638 9571
Andrew Burnett / Rakesh Sharma (Corporate Finance)
Ashton Clanfield (Corporate Broking)
Tel: +44 (0)207 459 3600
About Summit plc
Summit plc is a leading UK biotechnology company with a broad
preclinical and clinical pipeline, two world-leading technology
platforms and an innovative business model that is expected to
generate sustainable value for investors.
Summit is developing multiple drug programmes that target unmet
medical needs from which it intends to generate value by
out-licensing attractive late preclinical or early clinical stage
programmes in return for upfront, milestone and royalty payments.
Summit uses its scientific expertise to target orphan diseases,
neuro-disorders and infectious diseases. Summit has signed a major
licensing agreement with BioMarin in Duchenne muscular dystrophy and
has co-development agreements with Evolva (infectious diseases),
Orient Pharma (sialorrhoea) and the Lilly TB Drug Discovery
Underpinning Summit's drug pipeline are two innovative technology
platforms: carbohydrate chemistry and zebrafish biology. These
platforms support existing programmes and also will be the source of
future programmes to replenish Summit's drug pipeline. These
platform technologies also form the basis of the Company's profitable
The company listed on the alternative investment market (AIM) of the
London Stock Exchange in October 2004 - symbol: SUMM. Further
information about the company is available at www.summitplc.com.
---END OF MESSAGE---
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.