Summit, Wellcome Trust enter revenue sharing agreement for ridinilazole

Summit Therapeutics plc (LSE:SUMM; NASDAQ:SMMT) and the Wellcome Trust (London, U.K.) entered into an equity and revenue sharing agreement that covers future revenues generated by Summit's ridinilazole to treat Clostridium difficile infection.

If a third party commercializes ridinilazole, the Wellcome Trust will be eligible for a mid-single digit percentage share of net third party sales revenues and a one-time commercial milestone in the low single digit percentage of cumulative pre-commercial payments received by Summit from the third party licensees, excluding development or grant funding...