Summit Therapeutics Plc plans to raise $25 million in a private share placement that will finance a Phase 3 clinical programme of the investigational antibiotic ridinilazole for the treatment of Clostridium difficile.
The funds will also support a product to treat gonorrhoea which is poised to enter Phase 1 and a group of discovery assets targeting pathogens (ESKAPE pathogens) that are responsible for the majority of nosocomial infections in the world.