Evolva and Summit sign three-year co-investment collaboration

UK biotech company Summit (formerly known as VASTox) has signed a three-year collaborative agreement with Swiss company Evolva Biotech to develop new drugs for infectious diseases.

The collaboration covers Summit's immunomodulator drug candidate SMT14400 (formerly VOX 14400) and back-up compounds from the company's proprietary imino sugar library. Evolva and Summit will work together to develop clinical-stage compounds that show efficacy against viruses and bacteria relating specifically to bio-defence targets such as Anthrax, Ebola and other infectious diseases such as HIV and Influenza.

Under the terms of the agreement the parties will make an initial co-investment of US$1m. In addition to this, Summit and Evolva will make a further co-investment in excess of $10m over the next three years with both parties working together on a 50:50 basis to develop this new opportunity in infectious diseases for SMT14400. Summit will continue the development of SMT14400 in the areas of oncology and allergy.

"Summit's world class expertise in a very promising chemical space coupled with Evolva's strength in drug development will allow both companies to fast-track SMT14400 to clinical-stage," said Neil Goldsmith, managing director and ceo of Evolva. "This co-investment into SMT14400 represents an opportunity for both companies to capitalise on each other's strength and widen the exploration of novel small molecules to fight infectious diseases.