Summit Therapeutics PLC (LON:SUMM, NASDAQ:SMMT) has received a US$1mln milestone payment after enrolling initial patients at trial sites in Latin America as part of phase-III clinical trials of its ridinilazole treatment for C. difficile infection.
The payment is the first under its license and collaboration agreement with Eurofarma Laboratórios SA, under which it is entitled to receive a further US$2.75mln upon the achievement of additional staged patient enrolment targets in Latin America, along with other development and commercial milestones.
“We’re pleased with the progress we have made in enrolling our Phase 3 clinical trials, and we look forward to the results of the trials expected in the second half of 2021,” said chairman and chief executive Glyn Edwards.
Summit, which is also funding the trials with US government funds, showed in Phase 2 trials that the drug could kill C.diff infections while preserving healthy microorganisms in the gastrointestinal tract.
The firm’s Ri-CoDIFy phase III clinical trial assessment, which began in last February, is pitting next-generation antibiotic ridinilazole against vancomycin, the current standard of care.