We are very encouraged to note that Summit has entered into an exclusive licence and commercialisation agreement with Eurofarma for Latin American rights to ridinilazole for the treatment of C. difficile infection (CDI). Summit is entitled to receive $2.5m upfront, up to $25m in further development, regulatory and one-time cumulative sales milestones, further additional sales milestones as well as product supply transfer payments. Summit retains commercial rights in the rest of the world. The agreement follows the substantial BARDA award worth up to $62m (announced September 2017), which we view as further validation of ridinilazole’s very positive data and its significant potential in addressing a major healthcare threat. Summit is on track to commence two Phase III trials evaluating ridinilazole vs. vancomycin in H1 2018. We remain very excited about Summit’s potential.
