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
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