LONDON – Biotech billionaire Bob Duggan is taking a majority stake in Summit Therapeutics plc, as part of a proposed subscription and placing to raise $50 million. The scheme has to be voted through by shareholders, but assuming it is approved, Duggan will control approximately 73% of Summit’s enlarged share capital. Duggan previously invested $25 million in the company at the start of 2019, and already holds 49% of the stock.

BOSTON – The gut microbiome and its prospects for drug development have been matters of debate for a while, sharpened by the high-profile phase II failure of Seres Therapeutics Inc.'s candidate, SER-109, in the summer of 2016. A panel at Biopharm America surveyed the space in light of developments since the stumble with that candidate, composed of about 50 species of firmicutes spores derived from stool specimens from healthy donors, against recurrent Clostridium difficile infection.