On September 24, 2008, Summit Corporation plc, the leading UK biotechnology company, announced that it had entered into a co-development agreement for its clinical candidate SMT D001 with Orient Pharma, the R&D and manufacturing subsidiary of Taiwan-based Orient Europharma Co. Ltd.
SMT D001 is in a Phase II clinical development programme as a treatment for sialorrhoea or excessive drooling, a non-motor symptom of Parkinson's disease and other neurological disorders. Summit retains exclusive development and commercialisation rights to the new formulation of SMT D001 in North America, Europe and the rest of the world, where it will continue seek partners to continue the development and commercialisation of SMT D001.
Allistair Booth of Fasken Martineau advised Summit Corporation plc in this matter.