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UPDATE - Summit Therapeutics hires new director as pursues US listing

Last updated: 09:15 23 Feb 2015 GMT, First published: 10:15 23 Feb 2015 GMT

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Pharma and biotech specialist David Wurzer has been hired as a non-exec director at drug developer Summit Therapeutics (LON:SUMM) as it continues to pursue a NASDAQ listing in the US.

Summit chairman Frank Armstrong said: "David's expertise in financial matters and experience in working for US listed companies will be extremely valuable in supporting the future growth of the company."

Wurzer was executive vice president, treasurer and CFO of NASDAQ listed biotechnology company CuraGen Corporation between 1997 and 2008. He also held a number of positions at Value Health Inc from 1991 to 1997.

The 56-year-old is currently the executive vice president and chief investment officer at Connecticut Innovations - a state funded venture capital fund.

As reported on February 2, the group has filed for a proposed offering of American Depository shares to be listed on the exchange under the symbol 'SMTT'.

Today, it said it filed on Friday an amended registration statement, which included a preliminary prospectus for the offering.

Summit is advancing therapies for Duchenne Muscular Dystrophy (DMD) and C. difficile infection (CDI).

Broker N+1 Singer said: "Top line data from the group’s two clinical programmes is expected in H2 2015. We continue to be upbeat about Summit’s future prospects and believe 2015 could be a very positive year for the group."

Shares added 2.37% to 151p.

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