Summit, a biotech spin-out from Oxford University, has received £2.4m ($3.18m) for trials into treatment of Duchene muscular dystrophy (DMD) as part of the UK’s £26m Biomedical Catalyst Fund.

 The funding is a turn of fortunes for the struggling Didcot-based spin-out, which saw its headcount axed from 40 to 13 during the UK’s recession. It has since returned to 20.

DMD is a fatal muscle-wasting condition which currently affects around 1,500 young men in the UK who are not expected…

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