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news.Summit, a UK-based drug discovery company, has entered into collective agreements worth $1.5m with US-based organizations for its utrophin upregulation drug candidate SMT C1100, indicated to treat fatal neuromuscular disease Duchenne Muscular Dystrophy (DMD).
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The funding comprises $750,000 from the Muscular Dystrophy Association (MDA), $250,000 from Parent Project Muscular Dystrophy (PPMD) and $500,000 from a group of four independent Duchenne foundations spanning the US.
The foundations are Charley’s Fund, Cure Duchenne, Foundation to Eradicate Duchenne and the Nash Avery Foundation.
The grant will be used by Summit to manufacture a new formulation of SMT C1100 and conduct a Phase I clinical trial in healthy volunteers.
The trial is meant to assess the new formulation in providing consistent levels of the drug in the blood that non-clinical efficacy studies predicted would be required to confer therapeutic benefit in DMD Patients.