Summit Therapeutics announces increased BARDA award up to $63.7M
Summit Therapeutics announces that the Biomedical Advanced Research and Development Authority has increased the total value of its award for the clinical and regulatory development of Summit's precision antibiotic ridinilazole for the treatment of C. difficile infection to up to $63.7M. Under this award, BARDA has opted to exercise the next contract option for $9.6M, which will support patient enrollment and dosing in the ongoing Phase 3 clinical trials of ridinilazole. The total committed funding from the BARDA award under Contract No. HHS0100201700014C is now $53.6M, with one final option remaining. The final option provides funding support for potential applications for marketing approvals of ridinilazole. The BARDA contract provides for a cost-sharing arrangement with the committed funding drawn down over a specified development period.