CARB-X IS FUNDING SUMMIT THERAPEUTICS TO DEVELOP A NEW ANTIBIOTIC TO TREAT MULTIDRUG-RESISTANT INFECTIONS CAUSED BY CARBAPENEM-RESISTANT ENTEROBACTERIACEAE (CRE)
CARB-X is awarding Summit Therapeutics, (NASDAQ: SMMT) headquartered in Cambridge, MA, USA, with its Discuva subsidiary located in Cambridgeshire, UK, up to US$4.1 million in non-dilutive funding to develop a first-in-class antibiotic to treat multidrug-resistant infections, specifically carbapenem-resistant Enterobacteriaceae (CRE) infections including those caused by serious human pathogens such as Escherichia coli and Klebsiella pneumoniae. Under the award, Summit could receive additional funding of up to $3.7 million from CARB-X if project milestones are achieved, subject to available funds. The award will help the company progress the SMT-738 antibiotic project through preclinical and Phase 1a clinical development.
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