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Summit Corporation PLC - Directorate change

Directorate change Oxford, UK, 22 August 2008 - Summit Corporation plc (AIM: SUMM), a leading UK biotechnology company, announces that the Company's Chief Financial Officer, Darren Millington, has decided to leave the Company to pursue an alternative career opportunity. Darren will step down from the Board and leave the Company on 29 August. Darren joined Summit in April 2005 and has been involved in a successful period of growth and corporate activities at the Company, including a successful secondary fund raising, three acquisitions, and the signing of Summit's first major programme licensing deal (with BioMarin). Darren has decided to leave Summit in order to broaden his experience and will shortly take up a Finance Director position at a private company in a different industry sector. Summit is seeking to appoint a new, high-calibre Chief Financial Officer in due course and the recruitment process is underway. Barry Price, PhD, Chairman of Summit, commented: 'On behalf of the Board and senior management team, I wish to take this opportunity to thank Darren for his dedication and hard work during this period of significant growth for Summit. He has been a key member of the executive management team and an active member of the Board during a critical period in our development and we wish him every success in his future career.' - ENDS - For more information, please contact: Summit plc 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 / 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 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. 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 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 www.summitplc.com. - ---END OF MESSAGE---

Quick facts: Summit Therapeutics PLC

Price: 22.5

Market: AIM
Market Cap: £75.58 m


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on 9/12/19