LONDON – Summit Corp. plc said it is raising £5 million (US$7.9 million) in a placing as it announced the high-profile appointment of Glyn Edwards, former head of Antisoma plc and current interim chief executive of the UK BioIndustry Organization, as its CEO. Read More

LONDON – Inhibiting an enzyme that genetically drives the production of leukemic blood cells could provide a novel therapy for some types of leukemia, a new study suggested. Read More

Hunter Immunology Ltd. gained a back door listing on the Australian Stock Exchange last week by completing its reverse takeover of publicly quoted probiotics firm Probiomics Ltd. Read More

LONDON – Europe's small biotechs are finding it very hard to cross the health technology assessment (HTA) barriers that governments are erecting to test the cost benefits of new drugs, according to a survey carried out by the industry body EuropaBio. Read More

• China Shenghuo Pharmaceutical Holdings Inc., of Kunming, China, said its annual financial statements for 2011, as filed with the SEC, contained a going concern qualification. China Shenghuo develops Sanchi-based medicinal and pharmaceutical, nutritional supplement and cosmetic products. Read More