Summit Appoints Michael Donaldson as Chief Financial Officer
08 June 2020 - 9:00PM
Summit Therapeutics plc (‘Summit’ or the
‘Company’)
Summit Appoints Michael Donaldson as Chief Financial
Officer
Oxford, UK, and Cambridge, MA, US, June 8,
2020 – Summit Therapeutics plc (NASDAQ: SMMT) today announces
that Mr. Michael Donaldson has been appointed as Chief Financial
Officer, effective immediately. Mr. Donaldson brings to Summit over
20 years of finance experience, including the last nine years
working in corporate finance.
“Michael joins us at an exciting time in
Summit’s growth with our ongoing Phase 3 clinical trials of our
precision antibiotic candidate, ridinilazole, and the potential to
bring a superior product to patients with C. difficile infection,”
said Mr. Bob Duggan, Executive Chairman and Chief Executive
Officer of Summit. “We welcome Michael’s expertise across a
range of financial solutions for biotech companies as we look to
build an antibiotics company focused on patient- and
microbiome-friendly solutions to serious infectious diseases.”
“Summit has a clear focus and vision for
bringing much-needed new antibiotic classes to market, beginning
with ridinilazole,” commented Mr. Donaldson. “We have a
chance to significantly improve patients’ experiences with
infectious diseases by targeting the bad bacteria and preserving
the healthy bacteria of the microbiome. I look forward to building
value for the Company, shareholders and most importantly, the
patients.”
Mr. Donaldson joins Summit from Goldfinch Bio,
Inc., where he led finance and accounting as Vice President,
Finance, and Corporate Controller. Previously, he served as Vice
President, Finance, Corporate Controller and Assistant Treasurer at
ARIAD Pharmaceuticals, Inc., which was acquired by Takeda for $5.2
billion in February 2017. Prior to that, he was the Corporate
Controller for Hittite Microwave Corporation, which was acquired by
Analog Devices for $2.4 billion in July 2014. Mr. Donaldson spent
the first 11 years of his career at PricewaterhouseCoopers. He
received his undergraduate degree in accounting and information
systems from the University of Massachusetts and is a Certified
Public Accountant in Massachusetts.
About Summit Therapeutics Summit
Therapeutics, led by its Discuva Platform, the Company's discovery
engine, is a leader in antibiotic innovation. Our new mechanism
antibiotics are designed to become the patient-friendly new era
standard of care for those suffering from infectious disease,
subject to regulatory approvals, and create value for payors and
healthcare providers. In the present time, we are developing new
mechanism antibiotics to treat infections caused by C. difficile,
Enterobacteriaceae and N. gonorrhoeae and are using our proprietary
Discuva Platform to expand our pipeline. For more information,
visit www.summitplc.com and follow us on Twitter @summitplc. For
more information on the Company's Discuva Platform, visit
https://www.summitplc,com/our-science/discuva-platform.
Contacts
Summit Press Office |
investors@summitplc.com |
|
Summit Forward-looking Statements
Any statements in this press release about the
Company’s future expectations, plans and prospects, including but
not limited to, statements about the clinical and preclinical
development of the Company’s product candidates, the therapeutic
potential of the Company’s product candidates, the potential
commercialization of the Company’s product candidates, the
sufficiency of the Company’s cash resources, the timing of
initiation, completion and availability of data from clinical
trials, the potential submission of applications for marketing
approvals and other statements containing the words "anticipate,"
"believe," "continue," "could," "estimate," "expect," "intend,"
"may," "plan," "potential," "predict," "project," "should,"
"target," "would," and similar expressions, constitute
forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from those indicated by such forward-looking statements
as a result of various important factors, including: the
uncertainties inherent in the initiation of future clinical trials,
availability and timing of data from ongoing and future clinical
trials and the results of such trials, whether preliminary results
from a clinical trial will be predictive of the final results of
that trial or whether results of early clinical trials or
preclinical studies will be indicative of the results of later
clinical trials, expectations for regulatory approvals, laws and
regulations affecting government contracts and funding awards,
availability of funding sufficient for the Company’s foreseeable
and unforeseeable operating expenses and capital expenditure
requirements and other factors discussed in the "Risk Factors"
section of filings that the Company makes with the Securities and
Exchange Commission, including the Company’s Transition Report on
Form 20-F for the eleven months ended 31 December 2019.
Accordingly, readers should not place undue reliance on
forward-looking statements or information. In addition, any
forward-looking statements included in this press release represent
the Company’s views only as of the date of this release and should
not be relied upon as representing the Company’s views as of any
subsequent date. The Company specifically disclaims any obligation
to update any forward-looking statements included in this press
release.
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