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Druces advises Summit Therapeutics on USD20.1 million fundraising

Druces LLP, the City-based business and private wealth law firm is delighted to announce that a team led by partner, David Smith, has advised Summit Therapeutics PLC on the English law aspects of its fundraising of USD20.1 million before expenses. Summit’s ordinary shares are quoted on AIM and its American Depositary Shares (ADSs) are traded on the NASDAQ Global Market.

Summit raised the additional capital through an issue of 1,677,850 ADSs, representing 8,389,250 ordinary shares, and the proceeds will contribute towards the ongoing costs of the clinical development of ridinilazole, its investigational antibiotic for Clostridium difficile infection, or CDI, and for general corporate purposes.

This news was posted on 27 September 2017

 

For further information or media enquiries, contact Druces LLP or the firm’s PR partner, Infinite Global:

 

Simon Bomford                                                                  

Marketing Manager, Druces                                                      

D  +44 (0)20 7216 5539                                              

s.bomford@druces.com                          

Heather McMaster                                   Ryan McSharry

Consultant, IG                                              Director, IG

D  +44 (0) 20 7269 1435                             D  +44 20 7269 1430

E  heatherm@infiniteglobal.com              E  ryanm@infiniteglobal.com  

 

 

Notes to Editors

 

About Druces:

The firm’s core services are private wealth; corporate; banking and finance; employment; commercial property and property litigation; commercial litigation and arbitration; charities; and contentious probate.

As well as corporate and institutional clients, Druces’ clients include wealthy individuals, usually with overseas interests and both listed and privately-owned businesses across a range of industry sectors.

Druces operates from a single-site office in the City. It has established well-developed international links – primarily through its membership of the Alliance of Business Lawyers which covers 40 countries – with law firms specialising in business and private wealth law in leading cities around the world.

2017 sees the firm celebrate its 250th anniversary.  More information on the firm is available at www.druces.com or visit www.druces250.com for information on the firm’s 250th anniversary.