Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Summit Corporation PLC (SUMM)

  Print      Mail a friend

Tuesday 22 July, 2008

Summit Corporation PLC

Re Agreement with BioMarin to develop DMD candi...

A conference call for analysts, investors and press will take place
at 09.30hrs (BST) and the presentation is available by contacting
[email protected] or [email protected]

Dial in details are as follows:

For callers from the UK: 0808 109 0700
For callers outside the UK: +44 (0)203 003 2666

A replay will be available for seven days following the call by
dialing +44 (0)208 196 1998, PIN 6858527 and a webcast will be
available on

For Immediate Release:

     BioMarin and Summit plc Sign Worldwide Licensing Agreement
               for Duchenne Muscular Dystrophy Program

Novato, CA, and Oxford, UK,  July 22, 2008 - BioMarin  Pharmaceutical
Inc. (Nasdaq and SWX:  BMRN) and Summit  Corporation plc (AIM:  SUMM)
announced today that  they have entered  into an exclusive  worldwide
licensing agreement  for  Summit's novel  preclinical  candidate  SMT
C1100 and all follow-on molecules, which are being developed to treat
the fatal genetic disorder Duchenne muscular dystrophy (DMD).

Under the terms of  the licensing agreement,  Summit will receive  an
upfront payment of $7 million in the form of an equity investment  in
Summit shares, future development and regulatory milestones  totaling
$51 million, tiered royalties rising to low teens, depending on sales
and product sales milestones giving a total deal value of up to  $143

Summit will be responsible for completing the preclinical development
of  SMT  C1100.   BioMarin  will  be  responsible  for  the  clinical
development, regulatory filing and  commercialization of the  product

"We are  pleased  to  work  with  Summit  on  the  Duchenne  muscular
dystrophy  program.  SMT  C1100,  an  oral  small  molecule  utrophin
upregulator, has shown promise in animal  models of DMD and may  have
the potential for treating the  entire spectrum of DMD patients,  not
just those with  a particular  type of  mutation," said  Jean-Jacques
Bienaim�, Chief Executive Officer  of BioMarin.  "The DMD  indication
aligns well with our growing product development pipeline as it is  a
genetic disorder with  no approved  treatments. IND-enabling  studies
with SMT C1100 are  underway, and we plan  on entering the clinic  in
2009.  By  leveraging  our   expertise  in  rapidly  developing   and
commercializing products for focused patient populations, we hope  to
soon provide a new treatment option for all DMD patients."

Steven Lee  Ph.D.,  Chief Executive  of  Summit said,  "We  are  very
pleased that BioMarin  has become  our partner for  the DMD  program.
BioMarin has an unparalleled track record in developing orphan  drugs
to market  and has  developed and  launched successfully  three  such
drugs in record time.  The expertise and  commitment of the  BioMarin
team gives me great confidence that they are an excellent partner for
this program.  I believe they will  help to deliver SMT C1100 into  a
medicine in the shortest  timeframe possible for  the benefit of  all
DMD patients.

"For Summit, this deal is important as  it is the first of many  that
we anticipate signing from our broad pipeline of assets including two
clinical and two preclinical programs with future research driven  by
our world  leadership in  two  innovative technology  platforms.  Our
business  strategy  is   focused  on   out-licensing  or   partnering
candidates at a preclinical or early clinical stage, where there is a
strong demand from  pharma and biotech  companies looking to  enhance
their own pipelines, and this  deal provides important validation  of
this strategy."

The equity investment of $7.0 million (£3.54 million) will be made at
69 pence per share, calculated  from the 60-day trailing share  price
at the time issue, upon which BioMarin will hold approximately  9.16%
of the enlarged share capital of Summit.

About Duchenne muscular dystrophy (DMD) and SMT C1100

Duchenne muscular dystrophy  is a fatal  neuromuscular disorder  that
affects 1 in 3,500 boys with an estimated patient population of  over
40,000 in the developed world.

DMD is  caused by  a  genetic defect  meaning  DMD patients  lack  an
important protein called dystrophin, which is crucial to  maintaining
muscle integrity and function. The  absence of dystrophin results  in
extensive muscle  wasting in  all voluntary  muscles as  well as  the
heart and  breathing muscles  and causes  severe restriction  in  the
mobility of  DMD patients  by  their early  teens and  is  ultimately
fatal, generally in their  twenties. Currently there  is no cure  for
DMD; corticosteroid treatment is the only frontline therapy and  acts
to only delay the progression of the disease.

Summit has  identified SMT  C1100,  a proprietary,  orally  available
small molecule with a  novel mechanism of action  for DMD. SMT  C1100
acts to modify the progression of DMD by replacing dystrophin with an
endogenous, functionally  similar  protein  called  utrophin.  Summit
believes the  primary advantage  of SMTC1100  is that  it offers  the
potential  to  treat  the  entire  DMD  patient  population.   Summit
recently  presented  important   preclinical  data   for  SMT   C1100
demonstrating significantly improvements in the strength and function
of muscles in in vivo models.

Due to the low patient population and high unmet medical need, DMD is
designated as an orphan indication by the regulatory agencies. Orphan
products can  expect to  receive  additional regulatory  support  and
accelerated approval in  addition to  seven and ten  years of  market
exclusivity in the US and EU respectively upon designation by the FDA
and the EMEA.

For further information:

BioMarin Pharmaceutical, Inc.
Eugenia Shen, Investor Relations
Tel: +1 (415) 506-6570
Susan Berg, Media Relations
Tel: +1 (415) 506-6594

Summit plc
Steven Lee, PhD, Chief Executive Officer
Darren Millington, ACMA, Chief Financial Officer
Richard Pye, PhD, Investor Relations
Tel: +44 (0)1235 443951

Citigate Dewe Rogerson
Mark Swallow, PhD / David Dible / Sylvie Berrebi / Emma Palmer
Tel: +44 (0)207 638 9571

Panmure Gordon
Andrew Burnett / Rakesh Sharma (Corporate Finance)
Ashton Clanfield (Corporate Broking)
Tel: +44 (0)207 459 3600

About BioMarin

BioMarin develops  and commercializes  innovative  biopharmaceuticals
for serious diseases  and medical conditions.  The company's  product
portfolio comprises three approved products and multiple clinical and
preclinical product candidates. Approved products include  Naglazyme�
(galsulfase) for mucopolysaccharidosis VI (MPS VI), a product  wholly
developed and  commercialized by  BioMarin; Aldurazyme�  (laronidase)
for  mucopolysaccharidosis  I  (MPS  I),  a  product  which  BioMarin
developed through a 50/50 joint venture with Genzyme Corporation; and
Kuvan� (sapropterin  dihydrochloride)  Tablets,  a  product  for  the
treatment of  phenylketonuria (PKU),  developed in  partnership  with
Merck Serono, a division of Merck KGaA of Darmstadt, Germany.   Other
product candidates  include  6R-BH4 for  cardiovascular  indications,
which is currently in Phase 2 clinical development for the  treatment
of peripheral arterial disease and  sickle cell disease, and  PEG-PAL
(PEGylated  recombinant  phenylalanine   ammonia  lyase),  which   is
currently in Phase 1 clinical development for the treatment of  PKU.
For additional information, please visit Information on
BioMarin's website is not incorporated  by reference into this  press

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 many
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 indications, neuro-disorders and infectious diseases.
Summit's drug pipeline is supported by its world leadership in two
innovative technology platforms: carbohydrate chemistry and zebrafish
biology. These platforms support existing programmes and also will be
the source of future programmes to refuel Summit's drug pipeline.
These platform technologies also form the basis of the Company's
revenue generating service business.  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

Forward-Looking Statements

For BioMarin

This press  release  contains forward-looking  statements  about  the
business  prospects  of  BioMarin  Pharmaceutical  Inc.,   including,
without limitation, statements about: the expected development of SMT
C1100, the continued  clinical development  and commercialization  of
BioMarin's products  and  other  product candidates  and  actions  by
regulatory  authorities.   These   forward-looking   statements   are
predictions and  involve risks  and  uncertainties such  that  actual
results may differ materially from these statements. These risks  and
uncertainties include, among others:  results of planned and  ongoing
preclinical and clinical trials, including preclinical trials of  SMT
C1100; the content and timing of decisions by the U.S. Food and  Drug
Administration,  the   European  Commission   and  other   regulatory
authorities concerning  each of  the described  products and  product
candidates; and those factors detailed in BioMarin's filings with the
Securities and  Exchange Commission,  including, without  limitation,
the factors contained under the caption "Risk Factors" in  BioMarin's
2007 Annual Report on Form 10-K. Stockholders are urged not to  place
undue reliance on forward-looking statements, which speak only as  of
the date  hereof.  BioMarin is  under  no obligation,  and  expressly
disclaims any  obligation  to  update or  alter  any  forward-looking
statement, whether as a result  of new information, future events  or

For Summit plc

This press release 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 Summit Corporation plc'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. Summit's actual results may differ materially
from those contemplated by the forward-looking statements. Summit
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 include regional, national, global
political, economic, business, competitive, market and regulatory




a d v e r t i s e m e n t