Summit Therapeutics is to pay £10m in cash and shares for Discuva whose principal asset is a genetics-based technology platform for the generation of antibiotics.
The company believes the deal positions it as a lead in research and development for new classes of antibiotics. It also believes the deal will enhance Summit's broader business in rare and infectious diseases/
'The global threat from multi-drug resistant bacterial infections continues to rise. There are few new antibiotics in development, with most of those being iterations of known classes of antibiotics, meaning there is an urgent need for the development of novel antibiotics,' commented Glyn Edwards, CEO of Summit.
'With the acquisition, Summit is positioned as a leader in the research and development of new classes of antibiotics as exemplified by our precision antibiotic candidate ridinilazole for the treatment of C. difficile infection. Using this platform, we aim to generate a pipeline of new mechanism of action antibiotics that address other serious infectious disease threats.'