Summit Therapeutics to raise funds for Duchenne and C diff drugs

UK biotech firm Summit Therapeutics is preparing a US share offer to raise funding for its research programmes. The Oxford-based company is already listed on London's AIM market, but will now also join the NASDAQ, where it hopes to raise around $33 million via an initial public offering next week.

Its two lead candidates are of two mid-stage drugs, SMT C1100 for Duchenne Muscular Dystrophy (DMD) and SMT19969 for C difficile infections.