Summit Therapeutics (SMMT) 20-F 13 Apr 18 2018 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information Document	12 Months Ended
	Jan. 31, 2018shares
Document And Entity Information [Abstract]
Document type	20-F
Document period end date	Jan. 31, 2018
Amendment flag	false
Registrant name	Summit Therapeutics plc
Central index key	1,599,298
Current reporting status	Yes
Current fiscal year end date	--01-31
Filer category	Accelerated Filer
Entity well known seasoned issuer	No
Document fiscal year focus	2,018
Document fiscal period focus	FY
Entity common stock shares outstanding	73,563,624

Consolidated Statement of Finan

Consolidated Statement of Financial Position - GBP (£) £ in Thousands	Jan. 31, 2018	Jan. 31, 2017
Non-current assets
Goodwill	£ 2,478	£ 664
Intangible assets	14,785	3,470
Property, plant and equipment	809	116
Non-current assets	18,072	4,250
Current assets
Prepayments and other receivables	11,134	1,027
Current tax receivable	4,654	4,248
Cash and cash equivalents	20,102	28,062
Current assets	35,890	33,337
Total assets	53,962	37,587
Non-current liabilities
Deferred revenue	(18,033)	(23,615)
Financial liabilities on funding arrangements	(3,090)	(5,919)
Provisions for other liabilities and charges	(1,641)	(85)
Deferred tax liability	(2,379)	(565)
Non-current liabilities	(25,143)	(30,184)
Current liabilities
Trade and other payables	(8,932)	(3,984)
Deferred revenue	(10,012)	(6,912)
Current liabilities	(18,944)	(10,896)
Total liabilities	(44,087)	(41,080)
Net assets / (liabilities)	9,875	(3,493)
EQUITY
Share capital	736	618
Share premium account	60,237	46,420
Share-based payment reserve	6,743	5,136
Merger reserve	3,027	(1,943)
Special reserve	19,993	19,993
Currency translation reserve	37	50
Accumulated losses reserve	(80,898)	(73,767)
Total equity / (deficit)	£ 9,875	£ (3,493)

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - GBP (£) £ in Thousands	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Statement of comprehensive income [abstract]
Revenue	£ 25,419	£ 2,304	£ 0
Other operating income	2,725	72	1,281
Operating expenses
Research and development	(28,970)	(18,952)	(16,856)
General and administration	(11,999)	(8,277)	(4,771)
Total operating expenses	(40,969)	(27,229)	(21,627)
Operating loss	(12,825)	(24,853)	(20,346)
Finance income	3,096	8	30
Finance cost	(1,164)	(862)	(2,879)
Loss before income tax	(10,893)	(25,707)	(23,195)
Income tax	3,762	4,336	3,058
Loss for the year	(7,131)	(21,371)	(20,137)
Other comprehensive (loss) / income
Exchange differences on translating foreign operations	(13)	29	(41)
Loss for the year	£ (7,144)	£ (21,342)	£ (20,178)
Basic and diluted earnings per Ordinary Share from operations (in Pounds per share)	£ (0.11)	£ (0.35)	£ (0.34)

Consolidated Statement of Cash

Consolidated Statement of Cash Flows - GBP (£) £ in Thousands	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Cash flows from operating activities
Loss before income tax	£ (10,893)	£ (25,707)	£ (23,195)
Adjusted for:
Other operating income on derecognition of financial liabilities on funding arrangements	(908)	0	0
Finance income	(3,096)	(8)	(30)
Finance cost	1,164	862	2,879
Foreign exchange loss / (gain)	1,960	711	(169)
Depreciation	140	48	38
Amortization of intangible fixed assets	106	10	10
Loss on disposal of assets	40	0	0
Movement in provisions	(60)	12	28
Research and development expenditure credit	(23)	(3)	(44)
Share-based payment	1,607	1,379	1,160
Adjusted loss from operations before changes in working capital	(9,963)	(22,696)	(19,323)
(Increase) / decrease in prepayments and other receivables	(8,993)	492	1,106
(Decrease) / increase in deferred revenue	(2,482)	30,527	0
Increase / (decrease) in trade and other payables	3,375	813	(366)
Cash (used by) / generated from operations	(18,063)	9,136	(18,583)
Taxation received	3,374	3,005	1,401
Net cash (used by) / generated from operating activities	(14,689)	12,141	(17,182)
Investing activities
Acquisition of subsidiaries net of cash acquired	(4,775)	0	0
Purchase of property, plant and equipment	(360)	(81)	(66)
Purchase of intangible assets	(119)	(7)	0
Interest received	12	8	30
Net cash used in investing activities	(5,242)	(80)	(36)
Financing activities
Proceeds from issue of share capital	14,931	0	26,101
Transaction costs on share capital issued	(1,428)	0	(4,187)
Proceeds from exercise of warrants	10	107	0
Proceeds from exercise of share options	392	283	222
Cash received from funding arrangements accounted for as financial liabilities	0	23	0
Net cash generated from financing activities	13,905	413	22,136
(Decrease) / increase in cash and cash equivalents	(6,026)	12,474	4,918
Effect of exchange rates on cash and cash equivalents	(1,934)	(716)	121
Cash and cash equivalents at beginning of the year	28,062	16,304	11,265
Cash and cash equivalents at end of the year	£ 20,102	£ 28,062	£ 16,304

Consolidates Statement Of Chang

Consolidates Statement Of Change In Equity Statement - GBP (£) £ in Thousands	Total	Share capital	Share premium account	Share- based payment reserve	Merger reserve	Special reserve	Currency translation reserve	Accumulated losses reserve
Beginning balance at Jan. 31, 2015	£ 12,962	£ 411	£ 24,101	£ 2,597	£ (1,943)	£ 19,993	£ 62	£ (32,259)
Loss for the year	(20,137)	0	0	0	0	0	0	(20,137)
Currency translation adjustment	(41)	0	0	0	0	0	(41)
Total comprehensive loss for the year	(20,178)	0	0	0	0	0	(41)	(20,137)
New share capital issued	26,101	198	25,903	0	0	0	0	0
Transaction costs on share capital issued	(4,187)	0	(4,187)	0	0	0	0	0
Share options exercised	222	4	218	0	0	0	0	0
Share-based payment	1,160	0	0	1,160		0	0	0
Ending balance at Jan. 31, 2016	16,080	613	46,035	3,757	(1,943)	19,993	21	(52,396)
Loss for the year	(21,371)	0	0	0	0	0	0	(21,371)
Currency translation adjustment	29	0	0	0	0	0	29	0
Total comprehensive loss for the year	(21,342)	0	0	0	0	0	29	(21,371)
New share capital issued from exercise of warrants	107	2	105	0	0	0	0	0
Share options exercised	283	3	280	0	0	0	0	0
Share-based payment	1,379	0	0	1,379		0	0	0
Ending balance at Jan. 31, 2017	(3,493)	618	46,420	5,136	(1,943)	19,993	50	(73,767)
Loss for the year	(7,131)	0	0	0	0	0	0	(7,131)
Currency translation adjustment	(13)	0	0	0	0	0	(13)
Total comprehensive loss for the year	(7,144)	0	0	0	0	0	(13)	(7,131)
New share capital issued	14,931	84	14,847	0	0	0	0	0
Transaction costs on share capital issued	(1,428)	0	(1,428)	0	0	0	0	0
Issue of Ordinary Shares as consideration for a business combination	5,000	30	0	0	4,970	0	0	0
New share capital issued from exercise of warrants	10	1	9	0	0	0	0	0
Share options exercised	392	3	389	0	0	0	0	0
Share-based payment	1,607	0	0	1,607	0	0	0	0
Ending balance at Jan. 31, 2018	£ 9,875	£ 736	£ 60,237	£ 6,743	£ 3,027	£ 19,993	£ 37	£ (80,898)

Basis of accounting

Basis of accounting	12 Months Ended
	Jan. 31, 2018
Basis Of Presentation [Abstract]
Basis of accounting	Basis of accounting The principal accounting policies adopted by Summit Therapeutics plc and its subsidiaries in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Basis of preparation The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards and IFRS Interpretations Committee interpretations ('IFRS') as issued by the IASB. The Consolidated Financial Statements have been prepared on a going concern basis and under the historical cost convention. These consolidated financial statements were authorized by the Board of Directors on April 11, 2018. Going concern The financial information in these financial statements has been prepared on a going concern basis which assumes that the Group will continue in operational existence for the foreseeable future. The Group expects it will need to raise additional funding in the future in order to support research and development efforts, potential commercialization-related activities if any of its product candidates receive marketing approval, as well as to support activities associated with operating as a public company in both the United States and the United Kingdom. Management expects to finance its cash needs through a combination of some, or all, of the following: equity offerings, collaborations, strategic alliances, grants and clinical trial support from government entities, philanthropic, non-government and not for profit organizations and patient advocacy groups, debt financings, and marketing, distribution or licensing arrangements. After review of the future operating costs of the business in conjunction with the cash held at January 31, 2018 , management is confident about the Group’s ability to continue as a going concern. Use of estimates The preparation of the financial statements, in conformity with IFRS, requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Although these estimates are based on management’s best knowledge of the amount, event or actions, actual results may ultimately differ from those estimates. The areas involving higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 2 ‘ Critical accounting judgements and key sources of estimation uncertainty ’. Basis of consolidation The Consolidated Financial Statements incorporate the financial statements of the Group and entities controlled by the Group made up to the reporting date. Control is achieved where the Company has the power to govern the financial and operating policies of an investee entity so as to obtain benefits from its activities. The results of subsidiary undertakings acquired or disposed of in the year are included in the Consolidated Statement of Comprehensive Income from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by the Group. All intra-group transactions, balances, income and expenses are eliminated on consolidation. Revenue recognition Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business net of value added tax and other sales-related taxes. The Group recognizes revenue when the amount can be reliably measured; when it is probable that future economic benefits will flow to the Group; and when specific criteria have been met for each of the Group’s activities. Licensing agreements may consist of multiple elements and provide for varying consideration terms, such as upfront, development, regulatory and sales milestones, and sales royalties and similar payments. Where such arrangements can be divided into separate units of accounting (each unit constituting a separate earnings process), the arrangement consideration is allocated to the different units based on their relative fair values and recognized over the respective performance period. 1. Basis of accounting (continued) Revenues from non-refundable, upfront payments are assessed as to whether they relate to the provision of a license or development services. Upfront payments classified as the provision of a license are recognized in full immediately while revenue related to further development services are initially reported as deferred revenue on the Consolidated Statement of Financial Position and are recognized as revenue over the development period. Development and regulatory approval milestone payments are recognized as revenue based on the percentage of completion method on the assumption that all stages will be completed successfully. The cumulative revenue recognized is limited to non-refundable amounts already received or reasonably certain to be received. Revenues attributable to the development cost share element of a contract are recognized on an accruals basis as the underlying expenditure is incurred in accordance with the terms of the relevant agreement. Royalty revenue is recognized on an accrual basis in accordance with the substance of the relevant agreement, provided that it is probable that the economic benefits will flow to the Group and the amount of revenue can be measured reliably. Sales related milestone payments are recognized in full in the period in which the relevant milestone is achieved. Business Combinations The cost of an acquisition is measured as the fair value of the assets exchanged, equity instruments issued and liabilities incurred or assumed at the date of exchange. Identifiable assets acquired together with liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. The excess of the cost of acquisition over the fair value of the identifiable net assets is recorded as goodwill. Goodwill is not amortized but is reviewed for impairment at least annually and more frequently whenever there is an indication of impairment. See Note 27 Business combinations for details. Intangible Assets In-process research and development that is separately acquired as part of a company acquisition or in-licensing agreement is capitalized even if they have not yet demonstrated technical feasibility, which is usually signified by regulatory approval. Amortization will commence when either products underpinned by the intellectual property rights or the rights themselves become available for use . The intangible asset relating to intellectual property rights for the utrophin program capitalized as part of the acquisition of MuOx Limited in November 2013 is considered to be not yet available for use. As such, it will not be subject to amortization and will be tested for impairment at least annually or whenever there is an indicator of impairment. Amortization will commence when either products underpinned by the intellectual property rights or the rights themselves become available for use. The intangible asset relating to the acquired discovery and development platform capitalized as part of the acquisition of Discuva Limited in December 2017 is considered to be available for use. As such, it will be subject to amortization over the period of the relevant associated patents. Other intangible assets are amortized in equal installments over their useful estimated lives as follows: All patents (once filed) Over the period of the relevant patents (assumed to be 20 years) Option over non-financial assets Over the period of the relevant agreement Impairment of assets At each year end date, the Group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash-generating units). An impairment loss is recognized for the amount by which the asset’s or cash-generating unit’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of fair value, reflecting market conditions less costs to sell, and value in use based on an internal discounted cash flow evaluation. Impairment losses recognized for cash-generating units is charged pro rata to the other assets in the cash generating unit. All tangible and intangible assets are subsequently reassessed for indications that an impairment loss previously recognized may no longer exist. See Note 13 ‘ Intangible assets ’ for details. 1. Basis of accounting (continued) Property, plant and equipment Property, plant and equipment are stated at cost less depreciation. Cost comprises the purchase price plus any incidental costs of acquisition and commissioning. Depreciation is calculated to write-off the cost, less residual value, in equal annual installments over their estimated useful lives as follows: Leasehold improvements Over the period of the remaining lease Laboratory equipment 3-10 years Office and IT equipment 3-5 years The residual value, if not insignificant, is reassessed annually. Provisions Provisions are recognized when the Group has a present obligation (legal or constructive) as a result of a past event, where it is probable that an outflow of resources will be required to settle the obligation, and where a reliable estimate can be made of the amount of the obligation. If the effect of the time value of money is material, the expected future cash flows will be discounted using a pre-tax discount rate, adjusted for risk where it is inherent in a specific liability. Other operating income Other operating income includes income received and recognized from government agencies, philanthropic, non-government, not for profit organizations and patient advocacy groups which are accounted for in accordance with IAS 20, ‘Accounting for Government Grants and Disclosure of Government Assistance’. Monies received through these means are held as deferred revenue in the Consolidated Statement of Financial Position and are released to the Consolidated Statement of Comprehensive Income as the underlying expenditure is incurred and to the extent the conditions of the grant are met. Foreign currencies Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the year end date. All differences are taken to the Consolidated Statement of Comprehensive Income. Assets and liabilities of subsidiaries that have a functional currency different from the presentation currency (Pound Sterling), are translated at the closing rate at the date of each statement of financial position presented. Income and expenses are translated at average exchange rates. Any resulting differences are recognized in other comprehensive (loss)/income in the Consolidated Statement of Comprehensive Income. Employee benefits All employee benefit costs, notably holiday pay, bonuses and contributions to Company or personal defined contribution pension schemes are charged to the Consolidated Statement of Comprehensive Income on an accruals basis. Operating leases Costs in respect of operating leases are charged to the Consolidated Statement of Comprehensive Income on a straight line basis over the lease term. Assets relating to lease incentives are depreciated over the life of the lease and are included in property, plant and equipment as leasehold improvements. Research and development All ongoing research expenditure is currently expensed in the period in which it is incurred. Due to the regulatory environment inherent in the development of the Group’s products, the criteria for development costs to be recognized as an asset, as set out in IAS 38 ‘Intangible Assets’, are not met until a product has received regulatory approval, and it is probable that future economic benefit will flow to the Group. The Group currently has no qualifying expenditure. Cash and cash equivalents Cash and cash equivalents include cash in hand and deposits held on call with the bank. 1. Basis of accounting (continued) Share-based payments In accordance with IFRS 2 ‘Share-based Payment’, share options and restricted stock units are measured at fair value at their grant date. The fair value for the majority of the options is calculated using the Black-Scholes formula and charged to the Consolidated Statement of Comprehensive Income on a straight-line basis over the expected vesting period. For those options issued with vesting conditions other than remaining in employment (for example, those conditional upon the Group achieving certain predetermined financial criteria) either a Monte-Carlo model or a Hull White trinomial lattice model have been used. At each year end date, the Group revises its estimate of the number of options that are expected to become exercisable. This estimate is not revised according to estimates of changes in market based conditions. Current taxation Income tax is recognized or provided at amounts expected to be recovered or paid using the tax rates and tax laws that have been enacted or substantively enacted at the year end date. Current tax includes research and development tax credits which are calculated in accordance with the UK research and development tax credit regime applicable to small and medium sized companies. Research and development expenditure which is not eligible for reimbursement under the small and medium sized companies regime, such as expenditure incurred on projects for which we receive income, may be reimbursed under the UK Research and Development Expenditure Credit (‘RDEC’) scheme. Receipts under the RDEC scheme are presented within other operating income as they are similar in nature to grant income. Deferred taxation Deferred tax assets and liabilities are recognized where the carrying amount of an asset or liability in the Consolidated Statement of Financial Position differs from its tax base, except for differences arising on: • the initial recognition of goodwill; • the initial recognition of an asset or liability in a transaction which is not a business combination and at the time of the transaction affects neither accounting or taxable profit; and • investments in subsidiaries and jointly controlled entities where the Group is able to control the timing of the reversal of the difference, and it is probable that the difference will not reverse in the foreseeable future. Recognition of deferred tax assets is restricted to those instances where it is probable that taxable profit will be available against which the difference can be utilized. The amount of the asset or liability is determined using tax rates that have been enacted or substantively enacted by the reporting date and are expected to apply when the deferred tax liabilities/(assets) are settled/(recovered). Financial instruments The Group holds financial assets and liabilities in the respective categories ‘Loans and receivables’ and ‘Financial liabilities measured at amortized cost’. Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They arise when the Group provides money, goods or services directly to the debtor with no intention of trading the receivable. They are included in current assets, except for maturities greater than 12 months after the year end date, which are classified as non-current assets. Other liabilities consist of trade and other payables, being balances arising in the course of normal business with suppliers, contractors and other service providers, and borrowings, being loans and hire purchase funds advanced for the refit of leasehold premises and the purchase of laboratory equipment, fixtures and fittings. Loans and receivables, and other liabilities are initially recorded at fair value, and thereafter at amortized cost, if the timing difference is deemed to impact the fair value of the asset or liability. The Group assesses at each year end date whether there is objective evidence that a financial asset or a group of financial assets is impaired. The Group does not hold or trade in derivative financial instruments. Warrants Warrants issued by the Group are recognized and classified as equity when upon exercise, the Company would issue a fixed amount of its own equity instruments (Ordinary Shares) in exchange for a fixed amount of cash or another financial asset. Consideration received, net of incremental costs directly attributable to the issue of such new warrants, is shown in equity. Such warrants are not re-measured at fair value in subsequent reporting periods.

Critical accounting judgements

Critical accounting judgements and key sources of estimation uncertainty	12 Months Ended
	Jan. 31, 2018
Disclosure of changes in accounting estimates [abstract]
Critical accounting judgements and key sources of estimation uncertainty	Critical accounting judgements and key sources of estimation uncertainty The preparation of the Consolidated Financial Statements requires the Group to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expense. Actual results may differ from those estimates. Critical Judgements in Applying the Group’s Accounting Policies The following are the critical judgements, apart from those involving estimations, that the Directors have made in the process of applying the Group’s accounting policies and that have the most significant effect on the amounts recognized in the Consolidated Financial Statements. Financial liabilities on funding arrangements When entering into funding agreements with charitable and not for profit organizations, management is required to assess whether, based on the terms of the agreement, they can avoid a transfer of cash by settling using a non-financial obligation. An example of this would be the obligation to transfer the rights to the research to a funding provider. In the circumstances where the Group cannot avoid the obligation, all or part of the funding agreement should be accounted for as a financial liability rather than as a charitable grant. The financial liabilities are re-measured, and the Group is required to apply judgement, when there is a specific significant event that provides evidence of a significant change in the probability of successful development such as the completion of a phase of research or changes in use or market for a product. See Note 18 ‘ Financial liabilities on funding arrangements ’. Revenue Recognition The Group recognizes revenue from licensing fees, collaboration fees, development, regulatory and approval milestone fees, sales milestones and royalties. Agreements generally include a non-refundable up-front fee, milestone payments, the receipt of which is dependent upon the achievement of certain clinical, regulatory or commercial milestones, as well as royalties on product sales of licensed products, if and when such product sales occur. For these agreements, the Group is required to apply judgement in the allocation of total agreement consideration to the separately identifiable components on a reliable basis that reasonably reflects the selling prices that might be expected to be achieved in stand-alone transactions. The Group is required to make a judgement on those components which can be recognized immediately and those to which it applies the percentage of completion revenue recognition method. In relation to the license and collaboration agreement with Sarepta and the license and commercialization agreement with Eurofarma, management has assessed that the development services to be indistinguishable from the license. As a result the upfront payment has been initially reported as deferred revenue in the Consolidated Statement of Financial Position and is being recognized as revenue over the development period. Development and regulatory approval milestone payments associated with these contracts will be recognized to the extent that the milestone event has been completed successfully. See Note 17 ‘ Deferred revenue ’. Key sources of estimation uncertainty The key assumptions concerning the future, and other key sources of estimation uncertainty at the year end date that may have a risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are noted below. Recognition of research expenditure The Group recognizes expenditure incurred in carrying out its research and development activities in line with management’s best estimation of the stage of completion of each separately contracted study or activity. This includes the calculation of research and development accruals at each period to account for expenditure that has been incurred. This requires estimations of the full costs to complete each study or activity and also estimation of the current stage of completion. In all cases, the full cost of each study or activity is expensed by the time the final report or where applicable, product, has been received. Acquired intangible assets and assumed contingent liabilities valuations When the Group executes an acquisition resulting in a business combination as accounted under IFRS 3 Business Combinations , identifiable intangible assets and assumed contingent liabilities are required to be recognized in the Consolidated Financial Statements at fair value. In determining the fair value of such assets and liabilities a number of assumptions need to be made by management which include significant estimates. See Note 27 ' Business combinations '. 2. Critical accounting judgements and key sources of estimation uncertainty (continued) Financial liabilities on funding arrangements In calculating the financial liability, both at inception and when it is subsequently re-measured, a number of assumptions need to be made by management which include significant estimates. Assumptions included in the model include the following: reported disease prevalence; expected market share based on management’s estimates; drug reimbursement pricing in different territories, potential licensing terms which may be offered to the Group (for relevant products); expected patent life; the timing and probabilities of achieving clinical development milestones which are based on industry standards and adjusted for therapy area and; the appropriate discount rate to be used. See Note 18 ‘ Financial liabilities on funding arrangements ’. Share-based payment The Group measures share options at fair value at their grant date in accordance with IFRS 2, ‘Share-based Payment.’ The Group calculates the fair value of the share option using either the Black-Scholes model, or for options with performance conditions, a simulation model. The Group charges the fair value to the Consolidated Statement of Comprehensive Income over the expected vesting period. See Note 23 ‘ Share option scheme and Restricted Stock Units ’.

Changes to accounting policies

Changes to accounting policies	12 Months Ended
	Jan. 31, 2018
Disclosure of expected impact of initial application of new standards or interpretations [abstract]
Changes to accounting policies	Changes to accounting policies During the year ended January 31, 2018 the following new standards, amendments to standards or interpretations became effective for the first time. The adoption of these interpretations, standards or amendment to standards were either not relevant for the Group or have not led to any significant impact on the Group’s financial statements. International Accounting Standards (IAS/IFRS) Effective Date Amendments resulting from Annual Improvements 2014–2016 Cycle (clarifying scope) January 1, 2017 Amendment to IAS 7, Disclosure Initiative January 1, 2017 Amendment to IAS 12, Recognition of Deferred Tax Assets for Unrealised Losses January 1, 2017 At the date of signing these Consolidated Financial Statements, the following standards, amendments and interpretations, which have not been applied in these financial statements, were in issue but not yet effective: International Accounting Standards (IAS/IFRS) Effective Date IFRS 9, Financial Instruments (as revised in 2014) January 1, 2018 IFRS 15, Revenue from Contracts with Customers January 1, 2018 Amendment to IFRS 2 Share Based Payments, Classification and Measurement of Share-based Payment Transactions January 1, 2018 Amendments resulting from Annual Improvements 2014–2016 Cycle January 1, 2018 IFRIC 22 Foreign Currency Transactions and Advance Consideration January 1, 2018 IFRS 16, Leases January 1, 2019 Amendments to IFRS 3 Business Combinations, Remeasurement of previously held interest January 1, 2019 Amendments to IAS 12 Income Taxes, Income tax consequences of dividends January 1, 2019 Amendments to IAS 19 Employee Benefits, Plan amendments, curtailments or settlements January 1, 2019 Amendments to IAS 23 Borrowing Costs, Borrowing costs eligible for capitalisation January 1, 2019 Amendments resulting from Annual Improvements 2015–2017 Cycle January 1, 2019 IFRIC 23 Uncertainty over Income Tax Treatments January 1, 2019 Amendment to IFRS 10 and IAS 28, Sale or Contribution of Assets between an Investor and its Associate or Joint Venture To be determined IFRS 15 establishes comprehensive guidelines for determining when to recognize revenue and how much revenue to recognize. The standard is effective for reporting periods beginning on or after 1 January 2018 and replaces the accounting standard IAS 18 Revenue . Two adoption methods are permitted for transition: retrospectively to all prior reporting periods presented in accordance with IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors , with certain practical expedients permitted; or retrospectively with the cumulative effect of initially applying the standard recognized at the date of initial application. 3. Changes to accounting policies (continued) The core principle in that framework is that a company should recognize revenue to depict the transfer of control of promised goods or services to the customer in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. To determine revenue recognition for arrangements that a company determines are within the scope of IFRS 15, a company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the company satisfies a performance obligation. The standard also requires disclosure of qualitative and quantitative information about its contracts with customers, the significant judgements made in applying the Standard and any assets recognized from the costs to obtain or fulfil a contract. The Group has elected to adopt this new standard effective February 1, 2018 as required, using the full retrospective transition method in accordance with IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors. Under this method, the Group will adjust its results for the years ended January 31, 2017 and 2018, and applicable interim periods within those years, as if IFRS 15 had been effective for those periods. To date, the Group has assessed the effect of adoption of this standard as it relates to the license and collaboration agreement with Sarepta Therapeutics Inc. (‘Sarepta’), the license and commercialization agreement with Eurofarma Laboratórios SA ('Eurofarma') and the research collaboration agreement with F. Hoffmann - La Roche Limited ('Roche'). Currently, the Group anticipates the effects of adoption of IFRS 15 to be as described below. Estimated impacts from the adoption could differ upon the final adoption and implementation of the standard. The Group will continue to monitor interpretations released by the IFRS Interpretations Committee and amendments to IFRS 15, and will adopt these from the effective dates as appropriate. The Group expects the accounting for contingent milestone payments and development cost share income to be the most significant change in the accounting for its license and collaboration agreements. IFRS 15 requires an entity to identify goods or services (or a bundle of goods of goods or services) that are distinct where the customer can benefit from the good or service either on its own or together with other resources and the entity’s promise to transfer the good or service to the customer is separately identifiable from other promises in the contract. The Group expects this assessment to result in the license and the development services elements of the Group’s licensing agreements being identified as one performance obligation as these elements are not considered to be distinct, and this represents a critical accounting judgement for the Group. The impact of this assessment would result in the contingent milestone payments and development cost share income being recognized over the estimated development services period, with initial recognition occurring when it becomes highly probable that a significant reversal in the amount of cumulative revenue recognized will not occur. The Group has performed an evaluation of the expected effect of adoption on the accounting for the license and collaboration agreement with Sarepta, the license and commercialization with Eurofarma and the research collaboration agreement with Roche. The Group currently estimates the following cumulative effect to total license and collaboration agreements revenues and research collaboration agreement revenue for the year ended January 31, 2018 after the adoption of IFRS 15: Year ended January 31, 2018 £000 Estimated decrease in revenue by category: Licensing agreements 13,059 Research collaboration agreement — The estimated decrease in collaboration and license agreement revenues for the year ended January 31, 2018 relates to the difference between the accounting treatment of the Sarepta development milestone payment and development cost share income under IAS 18 and IFRS 15 as described above, which has been recognized as revenue in full during the year ended January 31, 2018 under IAS 18. The difference will be reported as deferred revenue in the Consolidated Statement of Financial Position and recognized as revenue over the development period. In addition to the effects on collaboration and license agreement revenues described above, the Group expects to revise balances of working capital components associated with collaboration and license agreement revenues, such as accounts receivable and deferred revenue. Overall, the Company currently expects current and non-current liabilities to increase as a result of these changes by £3.8 million and £9.2 million as of January 31, 2018 (2017: nil ), respectively. 3. Changes to accounting policies (continued) The quantitative amount provided above is an estimate of the expected effects of the Group’s adoption of IFRS 15. This amount represents management’s best estimates of the effects of adopting IFRS 15 at the time of the preparation of these financial statements. The actual quantitative effects of the adoption of IFRS 15 are subject to change from these estimates and such change may be significant, pending the completion of the Group’s assessment in the first quarter to April 30, 2018. Finally, IFRS 15 requires more robust disclosures than required by previous guidance, including disclosures related to disaggregation of revenue into appropriate categories, performance obligations, the judgments made in revenue recognition determinations, adjustments to revenue which relate to activities from previous quarters or years, any significant reversals of revenue, and costs to obtain or fulfill contracts. IFRS 9 'Financial Instruments' will replace IAS 39 for accounting period beginning on or after January 1, 2018. The key changes are the classification and measurement of financial assets and financial liabilities after initial recognition, impairment of financial assets and a new criteria for reclassification. The Group has elected to adopt this new standard effective February 1, 2018 as required. The Group has performed an evaluation of the expected effect of adoption of IFRS 9 for all financial instruments within the scope of the standard and it is expected that there will be no impact on the Group’s net results or net assets. The expected effects of the Group’s adoption of IFRS 9 is based on management’s assessment at the time of the preparation of these financial statements. The actual effects of the adoption of IFRS 9 are subject to change from this assessment and such changes may be significant, pending the completion of the Group’s assessment in the first quarter to April 30, 2018. IFRS 16 ‘Leases’ will replace IAS 17 for accounting periods beginning on or after January 1, 2019. In so doing, it will eliminate the distinction between classification of leases as finance or operating leases for lessees. The adoption of IFRS 16 is not expected to have a significant impact on the Group’s net results or net assets, although the full impact will be subject to further assessment following the conclusion of the ongoing consultations. The Directors do not expect that the adoption of the remaining standards and interpretations in future periods will have a material impact on the financial statements of the Group.

Segmental reporting

Segmental reporting	12 Months Ended
	Jan. 31, 2018
Disclosure of operating segments [abstract]
Segmental reporting	Segmental reporting The Summit Group comprises eleven legal entities, of which four are trading. These included the ten subsidiary companies and the Group holding company, Summit Therapeutics plc. The Group operates in one reportable segment: Drug Development. The chief operating decision-maker has been identified as the Executive Management Team consisting of the Chief Executive Officer, the Chief Financial Officer and the Chief Operating Officer. The Executive Management Team reviews the consolidated operating results regularly to make decisions about the financial and organizational resources and to assess overall performance. The Drug Development segment covers Summit’s research and development activities carried out by the Group, primarily comprising the DMD and the CDI programs. The corporate and other activities of Summit Therapeutics plc, Summit (Oxford) Limited, Summit Therapeutics Inc and Discuva Limited, which comprise the costs incurred in providing the facilities, finance, human resource and information technology services, are incurred by the main segment of the Group. Substantially all of the Group’s assets are held in the United Kingdom.

Revenue

Revenue	12 Months Ended
	Jan. 31, 2018
Revenue [abstract]
Revenue	Revenue Year ended January 31, 2018 Year ended January 31, 2017 Year ended January 31, 2016 £000 £000 £000 Analysis of revenue by category: Licensing agreements 25,109 2,304 — Research collaboration agreement 310 — — 25,419 2,304 — Revenue recognized in the year consists of amounts received from the license and collaboration agreement with Sarepta Therapeutics, Inc., the license and commercialization agreement with Eurofarma Laboratórios S.A., and amounts received from a research collaboration agreement with F. Hoffmann-La Roche Ltd. See Note 17 ‘ Deferred revenue ’ for further details. Year ended January 31, 2018 Year ended January 31, 2017 Year ended January 31, 2016 £000 £000 £000 Analysis of revenue by geography: United States 25,067 2,304 — Latin America 42 — — Europe 310 — — 25,419 2,304 — The analysis of revenue by geography has been identified on the basis of the customer’s geographical location.

Directors and employees

Directors and employees	12 Months Ended
	Jan. 31, 2018
Disclosure Directors And Employees [Abstract]
Directors and employees	Directors and employees The average monthly number of employees of the Group, including Executive Directors, during the year was: January 31, 2018 January 31, 2017 January 31, 2016 Technical, research and development 34 23 19 Corporate and administration 26 21 18 60 44 37 Their aggregate remuneration comprised: Year ended January 31, 2018 Year ended January 31, 2017 Year ended January 31, 2016 £000 £000 £000 Wages and salaries 7,493 5,932 3,876 Social security costs 643 434 247 Other pension costs 350 332 90 Share-based payment 1,607 1,379 1,160 10,093 8,077 5,373 6. Directors and employees (continued) Key management of the Group are members of the Executive Management Team. The aggregate amounts of key management compensation are set out below: Year ended January 31, 2018 Year ended January 31, 2017 Year ended January 31, 2016 £000 £000 £000 Short-term employee benefits Wages and salaries 1,520 1,252 934 Social security costs 162 98 58 1,682 1,350 992 Post-employment benefits Amounts paid in lieu of employer pension contributions 32 17 17 Other pension costs 14 11 — 46 28 17 Share-based payment 705 327 626 Total remuneration 2,433 1,705 1,635

Loss before income tax

Loss before income tax	12 Months Ended
	Jan. 31, 2018
Analysis of income and expense [abstract]
Loss before income tax	Loss before income tax Year ended January 31, 2018 Year ended January 31, 2017 Year ended January 31, 2016 £000 £000 £000 Other operating income Income recognized in respect of BARDA 1,772 — — Income on derecognition of the Wellcome Trust financial liability 908 — — Income recognized in respect of the Wellcome Trust — 13 592 Grant income 13 56 645 Research and development credit 23 3 44 Other income 9 — — 2,725 72 1,281 Research and development Employee benefit expense 5,616 4,218 2,848 Share-based payment expense 327 374 356 Program related costs 21,810 13,605 13,093 Amortization of intangible assets 105 10 10 Other research and development costs 1,112 745 549 28,970 18,952 16,856 General and administration Employee benefit expense 2,870 2,480 1,365 Share-based payment expense 1,280 1,005 804 Foreign exchange loss 1,986 533 (501 ) Depreciation of property, plant and equipment 141 48 38 Loss on disposal of assets 42 — — Operating lease rentals 289 213 131 Other general and administration costs 5,322 3,998 2,934 Royalty expense 69 — — 11,999 8,277 4,771 7. Loss before income tax (continued) In September 2017 the Group was awarded a funding contract from the Biomedical Advanced Research and Development Authority ('BARDA'), an agency of the US government's Department of Health and Human Services' Office of the Assistant Secretary for Preparedness and Response, worth up to $62 million . The BARDA contract provides for a cost-sharing arrangement under which BARDA funds a specified portion of estimated costs for specified activities related to the continued clinical and regulatory development of ridinilazole for the treatment of CDI. Under the terms of the contract, Summit is initially eligible to receive $32 million from BARDA to fund, in part, obtaining regulatory approval for and commencing enrollment and dosing into Summit's two planned Phase 3 clinical trials of ridinilazole. In addition, Summit is eligible for additional funding under the contract pursuant to three independent option work segments, which if exercised in full by BARDA would provide for an additional $30 million of funding from BARDA and would support the development of ridinilazole through to potential submission of applications for marketing approval. During the year ended January 31, 2018 the Group recognized funding income from BARDA of £1.8 million for the CDI program (year ended January 31, 2017 : nil ), income is recognized in respect of BARDA as the underlying research and development expenditure is incurred. During the year ended January 31, 2018 , the Group also recognized £0.9 million of other operating income related to the derecognition of the Wellcome Trust financial liability (year ended January 31, 2017 : nil ). See Note 18 ‘ Financial liabilities on funding arrangements ’ for further details.

Auditors_ remuneration

Auditors’ remuneration	12 Months Ended
	Jan. 31, 2018
Analysis of income and expense [abstract]
Auditors’ remuneration	Auditors’ remuneration Services provided by the Group’s auditors During the year the Group obtained the following services from the Group’s auditors at the cost detailed below: Year ended January 31, 2018 Year ended January 31, 2017 Year ended January 31, 2016 £000 £000 £000 Fees payable to the auditors and its associates for the audit of the Company and Consolidated Financial Statements 132 110 44 Fees payable to the auditors and its associates for other services: - Audit of the Company’s subsidiaries (2) 209 120 71 - Audit-related assurance services — 3 6 - Other assurance services (1) 118 163 158 - Tax advisory services 2 15 9 - Tax compliance services 21 47 11 Total fees payable 482 458 299 (1) For the year ended January 31, 2018, other assurance services includes assurance reporting on information included in information used for the Company's underwritten public offering completed on 18 September 2017. These amounts were recognized directly in share premium. For the year ended January 31, 2017, other assurance services includes assurance reporting on information included in the Company’s registration statement on Form F-3 that was originally filed with the U.S. Securities and Exchange Commission on May 12, 2016. (2) For the year ended January 31, 2018, fees payable for the Consolidated Financial Statements and fees payable for the Company's subsidiaries includes audit services relating to the initial audit and business combination accounting for Discuva Limited. These amounts will be non recurring fees.

Finance income and costs

Finance income and costs	12 Months Ended
	Jan. 31, 2018
Disclosure of finance income and costs [Abstract]
Finance income and costs	Finance income and costs Note Year ended January 31, 2018 Year ended January 31, 2017 Year ended January 31, 2016 £000 £000 £000 Finance income Derecognition of financial liabilities 18 3,085 — — Interest income on deposits 11 8 30 Finance income 3,096 8 30 Finance costs Unwinding of discount factor 18 (754 ) (862 ) (268 ) Re-measurement of financial liabilities on funding arrangements 18 (410 ) — (2,611 ) Finance costs (1,164 ) (862 ) (2,879 ) Net finance income / (costs) 1,932 (854 ) (2,849 )

Income tax

Income tax	12 Months Ended
	Jan. 31, 2018
Disclosure of income tax [Abstract]
Income tax	Income tax Year ended January 31, 2018 Year ended January 31, 2017 Year ended January 31, 2016 £000 £000 £000 Analysis of credit in the period Current tax : Current tax income 3,767 4,245 2,971 Adjustments in respect of prior years (5 ) (9 ) 87 Total current tax 3,762 4,236 3,058 Total deferred tax — 100 — Total tax 3,762 4,336 3,058 The difference between the total tax shown above and the amount calculated by applying the standard rate of UK corporation tax to the loss before tax is as follows: Year ended January 31, 2018 Year ended January 31, 2017 Year ended January 31, 2016 £000 £000 £000 Loss before tax (10,893 ) (25,707 ) (23,195 ) Loss multiplied by the standard rate of corporation tax in the United Kingdom (Current tax) 19.17% (2017: 20%) (2,088 ) (5,141 ) (4,678 ) Change in unrecognized tax losses 751 2,169 2,691 Non-deductible expenses 402 331 184 Tax relief for qualifying research and development expenditure (3,043 ) (1,699 ) (1,170 ) Prior year adjustments 5 9 (87 ) Share options exercised (40 ) (84 ) (45 ) Overseas profits taxed at different rates 251 179 47 Change in rate of deferred tax — (100 ) — Total tax (3,762 ) (4,336 ) (3,058 ) 10. Income tax (continued) There are no current tax liabilities as at January 31, 2018 ( 2017 : Nil; 2016 : Nil). Tax credits relate to UK research and development tax credits claimed under the Finance Act 2015. The Finance (No 2) Act 2015, which provides for reductions in the main rate of corporation tax from 20% to 19% effective from April 1, 2017, and to 18% effective from April 1, 2020, was substantively enacted on October 26, 2015. Subsequently, the Finance Act 2016, which provides for a further reduction in the main rate of corporation tax to 17% effective from April 1, 2020, was substantively enacted on September 6, 2016. These rate reductions have been reflected in the calculation of deferred tax at the year end date. The closing deferred tax liability at January 31, 2018 has been calculated at 17% reflecting the tax rate at which the deferred tax liability is expected to be reversed in future periods. Unrecognized deferred tax has been calculated at 17% reflecting the latest enacted rate. In respect of unrecognized deferred tax on losses, the new loss restriction rules effective from April 1, 2017 limit the amount of brought forward losses available to use against future taxable profits on a year by year basis to the extent that taxable profits exceed £ 5m in year. However, the losses will not lapse and therefore the full amount will be relieved over time provided there are sufficient profits against which the losses can be utilized. Please see Note 21 ‘ Deferred tax liability ’ for information on the unrecognized tax losses carried forward.

Loss per share

Loss per share	12 Months Ended
	Jan. 31, 2018
Earnings per share [abstract]
Loss per share	Loss per share The loss per share has been calculated using the loss for the year of £ 7,131,000 (year ended January 31, 2017 : loss of £ 21,371,000 ; year ended January 31, 2016 : loss of £ 20,137,000 ) and dividing this by the weighted average number of Ordinary Shares in issue during the year to January 31, 2018 : 65,434,294 (year ended January 31, 2017 : 61,548,557 ; year ended January 31, 2016 : 59,102,292 ). Since the Group has reported a net loss, diluted loss per share is equal to basic loss per share. Potentially dilutive shares capable of vesting under the share options currently in issue totaled 8,577,236 as at January 31, 2018 ( January 31, 2017 : 7,383,401 ; year ended January 31, 2016 : 7,006,306 ).

Goodwill

Goodwill	12 Months Ended
	Jan. 31, 2018
Disclosure of detailed information about intangible assets [abstract]
Goodwill	Goodwill Discuva Limited £000 MuOx Limited £000 Total £000 Cost At February 1, 2017 — 664 664 Additions 1,814 — 1,814 At January 31, 2018 1,814 664 2,478 Accumulated impairment At February 1, 2017 — — — At January 31, 2018 — — — Net book amount At February 1, 2017 — 664 664 At January 31, 2018 1,814 664 2,478 12. Goodwill (continued) Discuva Limited £000 MuOx Limited £000 Total £000 Cost At February 1, 2016 — 664 664 At January 31, 2017 — 664 664 Accumulated impairment At February 1, 2016 — — — At January 31, 2017 — — — Net book amount At February 1, 2016 — 664 664 At January 31, 2017 — 664 664 Goodwill represents the difference between the fair value of the identifiable assets acquired and liabilities assumed and the amount paid in consideration . In accordance with IAS 36 ‘Goodwill’ has been reviewed for impairment and no provision is considered necessary. The impairment review is included as part of the intangible assets impairment review in Note 13 ‘ Intangible assets ’. Goodwill relating to Muox Limited forms part of the same cash-generating unit as the utrophin program acquired. Goodwill relating to Discuva Limited forms part of the same cash-generating unit as the bacterial genetics-based platform acquired. On December 23, 2017, the Group acquired 100% of the share capital of Discuva Limited a privately held UK-based company, resulting in the recognition of £1.8 million of goodwill. See Note 27 ' Business combinations ' for details. Goodwill recognized in respect of Discuva Limited is attributable to the synergies expected with the Group's ongoing business as a result of the acquisition and the existing Discuva Limited workforce (which cannot be separately valued under IFRS accounting standards). Goodwill recognized in respect of MuOx Limited is attributable to synergies expected from the Group’s collaboration with the University of Oxford and other founders of MuOx Limited.

Intangible assets

Intangible assets	12 Months Ended
	Jan. 31, 2018
Disclosure of detailed information about intangible assets [abstract]
Intangible assets	Intangible assets Iminosugar Utrophin Bacterial genetics-based platform acquired Option over non-financial assets Other Total Cost At February 1, 2017 1,380 3,321 — — 204 4,905 Acquisition of subsidiary (Note 27) — — 10,670 668 — 11,338 Additions — — — — 119 119 Disposals (1,380 ) — — — (58 ) (1,438 ) At January 31, 2018 — 3,321 10,670 668 265 — 14,924 Accumulated amortization At February 1, 2017 (1,380 ) — — — (55 ) — (1,435 ) Charge for the year — — (79 ) (4 ) (23 ) (106 ) Disposals 1,380 — — — 22 1,402 At January 31, 2018 — — (79 ) (4 ) (56 ) — (139 ) Net book amount At February 1, 2017 — 3,321 — — 149 3,470 At January 31, 2018 — 3,321 10,591 664 209 14,785 Iminosugar Utrophin Bacterial genetics-based platform acquired Option over non-financial assets Other Total Cost At February 1, 2016 1,380 3,321 — — 197 4,898 Additions — — — — 7 7 At January 31, 2017 1,380 3,321 — — 204 4,905 Accumulated amortization At February 1, 2016 (1,380 ) — — — (45 ) (1,425 ) Charge for the year — — — — (10 ) (10 ) At January 31, 2017 (1,380 ) — — — (55 ) (1,435 ) Net book amount At February 1, 2016 — 3,321 — — 152 3,473 At January 31, 2017 — 3,321 — — 149 3,470 Amortization of intangible assets is included in the line ‘Research and development’ shown on the face of the Consolidated Statement of Comprehensive Income. On December 23, 2017, the Group recognized £ 10.6 million of identified intangible assets related to the bacterial genetics-based platform and £ 1.8 million of goodwill upon acquisition of Discuva Limited. See Note 27 ' Business combinations ' for further details. In accordance with IAS 38, intangible assets not subject to amortization and the associated goodwill have been reviewed for impairment. The key assumptions used in the valuation model to determine the value in use are as follows: • expected research and development costs based on management’s past experience and knowledge; • probabilities of achieving development milestones based on industry standards; • reported disease prevalence; • expected discovery pipeline; • expected market share based on management’s estimates; • drug reimbursement, costs of goods and marketing estimates; and • expected patent life. 13. Intangible assets (continued) The valuation models cover periods significantly longer than five years which is based on expected patent life, once filed, due to the length of the development cycle for assets of this nature. A discount factor of 18% has been used over the forecast period for the valuation model used to determine the value in use of the utrophin program acquired and the associated goodwill amounts recognized. Based on sensitivity analysis, no reasonably possible change in assumptions would cause the carrying value of this asset to exceed its recoverable amount.

Property, plant and equipment

Property, plant and equipment	12 Months Ended
	Jan. 31, 2018
Disclosure of detailed information about property, plant and equipment [abstract]
Property, plant and equipment	Property, plant and equipment Cost Leasehold improvements £000 Laboratory equipment £000 Office and IT equipment £000 Total £000 At February 1, 2017 9 19 284 312 Acquisition of subsidiary (Note 27) — 280 49 329 Additions 340 — 173 513 Disposals (9 ) (14 ) (23 ) Revaluation — — (6 ) (6 ) At January 31, 2018 340 299 486 1,125 Accumulated depreciation At February 1, 2017 (9 ) (17 ) (170 ) (196 ) Charge for the year (31 ) (19 ) (90 ) (140 ) Disposals 9 — 10 19 Revaluation — — 1 1 At January 31, 2018 (31 ) (36 ) (249 ) (316 ) Net book value At February 1, 2017 — 2 114 116 At January 31, 2018 309 263 237 809 Cost Leasehold improvements £000 Laboratory equipment £000 Office and IT equipment £000 Total £000 At February 1, 2016 9 137 228 374 Additions — — 81 81 Disposals — (118 ) (25 ) (143 ) At January 31, 2017 9 19 284 312 Accumulated depreciation At February 1, 2016 (7 ) (135 ) (149 ) (291 ) Charge for the year (2 ) — (46 ) (48 ) Disposals — 118 25 143 At January 31, 2017 (9 ) (17 ) (170 ) (196 ) Net book value At February 1, 2016 2 2 79 83 At January 31, 2017 — 2 114 116

Prepayments and other receivabl

Prepayments and other receivables	12 Months Ended
	Jan. 31, 2018
Prepayments and other receivables [Abstract]
Prepayments and other receivables	Prepayments and other receivables January 31, 2018 January 31, 2017 £000 £000 Other receivables 3,600 342 Prepayments 6,498 685 Accrued income 1,036 — 11,134 1,027

Trade and other payables

Trade and other payables	12 Months Ended
	Jan. 31, 2018
Trade and other payables [abstract]
Trade and other payables	Trade and other payables January 31, 2018 January 31, 2017 £000 £000 Trade payables 4,414 906 Other taxes and social security 164 94 Accruals 4,078 2,884 Other creditors 276 100 8,932 3,984

Deferred revenue

Deferred revenue	12 Months Ended
	Jan. 31, 2018
Accruals and deferred income [abstract]
Deferred revenue	January 31, 2018 January 31, 2017 £000 £000 Due within one year 10,012 6,912 Due more than one year 18,033 23,615 Sarepta Therapeutics Inc. On October 4, 2016, Summit announced its entry into an exclusive license and collaboration agreement with Sarepta Therapeutics Inc. (‘Sarepta’), pursuant to which Summit granted Sarepta the exclusive right to commercialize products in the Group’s utrophin modulator pipeline in the European Union, Switzerland, Norway, Iceland, Turkey and the Commonwealth of Independent States. Such products include the Group’s lead product candidate, ezutromid, for the treatment of Duchenne muscular dystrophy and its pipeline of second generation and future generation small molecule utrophin modulators. The Group also granted Sarepta an option to expand the licensed territory to include specified countries in Central and South America. The Group retains commercialization rights in the rest of the world. Under the license and collaboration agreement with Sarepta, Summit received an upfront payment of $ 40.0 million (£ 32.8 million ) from Sarepta. The terms of the contract have been assessed, and the Group believes the development services to be indistinguishable from the license and as a result the upfront payment was initially reported as deferred revenue in the Consolidated Statement of Financial Position and is being recognized as revenue over the development period. In May 2017, the Group announced the first dosing of the last patient in PhaseOut DMD, its ongoing Phase 2 clinical trial of ezutromid, which triggered a $ 22 million (£ 17.2 million ) development milestone payment to Summit. The Group believes this development milestone has been achieved, hence the payment has met the recognition criteria of International Accounting Standard 18 ‘Revenue’ and has been recognized as revenue in full during the year ended January 31, 2018 . In addition, the Group will be eligible to receive up to an additional $ 20 million from Sarepta in specified development milestones for ezutromid and up to $ 150 million from Sarepta in specified regulatory milestones related to ezutromid in the licensed territory. The Group are also eligible to receive up to $65 million in specified development milestones and up to $ 225 million in specified regulatory milestones from Sarepta for our future generation small molecule utrophin modulators in the licensed territory. In addition, the Group are also eligible to receive up to $ 330 million from Sarepta in specified sales milestones on a product-by-product basis, as well as tiered, escalating royalties ranging from a low to high teens percentage of net sales on a product-by-product basis in the licensed territory. Under the license and collaboration agreement with Sarepta, the Group have agreed to collaborate with Sarepta on the research and development of the licensed products pursuant to a joint development plan through a joint steering committee comprised of an equal number of representatives from each party. The Group have been solely responsible for all research and development costs for the licensed products until December 31, 2017. From January 1, 2018, the Group is responsible for 55.0% of the budgeted research and development costs related to the licensed products in the licensed territory, and Sarepta is responsible for 45.0% of such costs. Any costs in excess of 110.0% of the budgeted amount are borne by the party that incurred such costs. The Group is also obligated to spend a specified minimum amount on the research and development of certain licensed products prior to the end of 2019. 17. Deferred revenue (continued) Eurofarma Laboratórios S.A. On December 21, 2017, Summit announced it had entered into an exclusive license and commercialization agreement with Eurofarma Laboratórios S.A. ('Eurofarma'), pursuant to which the Group granted Eurofarma the exclusive right to commercialize ridinilazole in specified countries in South America, Central America and the Caribbean. The Group has retained commercialization rights in the rest of the world. Under the terms of the license agreement with Eurofarma, the Group received an upfront payment of $2.5 million ( £1.9 million ) from Eurofarma. The terms of the contract have been assessed, and the Group believes the development services to be indistinguishable from the license and as a result the upfront payment was initially reported as deferred revenue in the Consolidated Statement of Financial Position and is being recognized as revenue over the development period. In addition, the Group will be entitled to receive an additional $3.75 million in development milestones upon the achievement of staged patient enrollment targets in the licensed territory in one of our two planned Phase 3 clinical trials of ridinilazole. The Group is eligible to receive up to $21.5 million in development, commercial and sales milestones when cumulative net sales equal or exceed $100.0 million in the Eurofarma licensed territory. Each subsequent achievement of an additional $100.0 million in cumulative net sales will result in the Group receiving additional milestone payments, which, when combined with anticipated product supply transfer payments from Eurofarma paid to the Group in connection with a commercial supply agreement to be entered into between the two parties, will provide payments estimated to range from a mid- to high-teens percentage of cumulative net sales in the Eurofarma licensed territory. The Group estimate such product supply transfer payments from Eurofarma will range from a high single-digit to low double-digit percentage of cumulative net sales in the licensed territory.

Financial liabilities on fundin

Financial liabilities on funding arrangements	12 Months Ended
	Jan. 31, 2018
Financial liabilities at amortised cost [Abstract]
Financial liabilities on funding arrangements	Financial liabilities on funding arrangements The Group has entered into charitable funding arrangements with the Wellcome Trust and the US not for profit organizations, the Muscular Dystrophy Association (‘MDA’) and Duchenne Partners Fund (‘DPF’). In exchange for the funding provided, these arrangements require the Group to pay royalties on potential future revenues generated from the CDI and DMD programs respectively. Under IFRS, when such arrangements also give the counterparties rights over unexploited intellectual property, this results in a financial liability, recognized in the Statement of Financial Position. The estimated financial liability is initially recognized at fair value using a discounted cash flow model with the difference between the fair value of the liability and the cash received considered to represent a charitable grant. The financial liabilities are subsequently measured at amortized cost using discounted cash flow models which calculate the risk adjusted net present values of estimated potential future cash flows for the respective projects related to the Wellcome Trust and MDA and DPF agreements. The financial liabilities are re-measured when there is a specific significant event that provides evidence of a significant change in the probability of successful development such as the completion of a phase of research or public reporting of significant interim data and changes in use or market for a product. The models will be updated for changes in the clinical probability of success and other associated assumptions with the discount factor to remain unchanged within the model. Discount factors have been calculated using appropriate measures and rates which could have been obtained in the period that the funding agreements were entered into and are in the range of 16% to 18% . In October 2017, the Company and the Wellcome Trust entered into an equity and revenue sharing agreement (‘RS Agreement’). This was a follow-on to Summit’s October 2012 Translational Award funding agreement with the Wellcome Trust ('TA Agreement'), which provided funding for the now completed Phase 1 and Phase 2 clinical trials for ridinilazole. The commercial terms in the RS Agreement replaced those detailed in the TA Agreement. Under the RS Agreement, the Wellcome Trust also agreed to terminate all of its rights under the TA Agreement pertaining to the exploitation of intellectual property related to the CDI program, meaning the arrangement no longer meets the definition of a financial liability under IFRS. Therefore, the portion of the financial liability on the Group’s Statement of Financial Position related to the Wellcome Trust funding has been derecognized in full as a credit to the Statement of Comprehensive Income, with £0.9 million classified as Other income and £3.1 million classified as Finance income. The portion of the derecognized financial liability presented as Other income represents the component of the funding received from the Wellcome Trust not previously credited to the Statement of Comprehensive Income upon initial recognition of the financial liability. The portion of the derecognized financial liability presented as Finance income relates to previous re-measurements and discounts associated with the financial liability which were recognized as finance costs. The value of the estimated financial liabilities for funding arrangements as of January 31, 2018 amounted to £3.1 million ( January 31, 2017 : £5.9 million ) relating to the charitable funding arrangements with MDA and DPF. Since initial recognition, the remaining estimated financial liabilities were re-measured following significant successful events in the DMD and CDI clinical programs. The financial liabilities were re-measured in the year ended January 31, 2018 following positive interim 24-week data in the Phase 2 clinical trial of ezutormid for DMD which increased the probability of success. 18. Financial liabilities on funding arrangements (continued) January 31, 2018 January 31, 2017 £000 £000 At February 1 5,919 5,034 Unwinding of discount factor 754 862 Derecognition of financial liabilities – Finance income (3,085 ) — Re-measurement of financial liabilities on funding arrangements 410 — Net finance income / (costs) on funding arrangements accounting for as financial liabilities (1,921 ) 862 Derecognition of financial liabilities – Other operating income (908 ) — Cash received from funding arrangements accounted for as financial liabilities — 23 At January 31 3,090 5,919 Changing one or more assumptions to reasonable possible alternative assumptions would not materially change the fair value. The table below describes the value of the liability as at January 31, 2018 of £ 3.1 million compared to what the total value would be following the presented variations to the underlying assumptions in the model: January 31, 2018 £000 Estimated financial liabilities on funding arrangements 3,090 1% lower discount rate 3,354 1% higher discount rate 2,850 10% lower revenue assumptions 2,818 10% higher revenue assumptions 3,362 10% lower probability of success 1,005 10% higher probability of success 5,123 Summary of milestone payments and royalty arrangements contained in the funding arrangements US Not for Profit Organizations Muscular Dystrophy Association The Group has agreed to pay the Muscular Dystrophy Association (‘MDA’) a specified lump sum amount, less the previously paid MDA cash infusion milestone payment, following the regulatory approval of any project product for use in the United States or European Union in the treatment of DMD or Becker muscular dystrophy (‘BMD’) and an additional specified sum upon achievement of a commercial milestone. The Group would be obligated to pay MDA a low single-digit percentage royalty of worldwide net sales by the Group, its affiliates or licensees of any project product. Duchenne Partners Fund Inc. The Group has agreed to pay Duchenne Partners Fund Inc., (‘DPF’) a specified lump sum amount, less the previously paid DPF cash infusion milestone payment, following the regulatory approval of any project product for use in the United States or European Union in the treatment of DMD or BMD and an additional specified sum upon achievement of a commercial milestone. The Group would be obligated to pay DPF a low single-digit percentage royalty of worldwide net sales by the Group, its affiliates or licensees of any project product. The total amount payable with respect to regulatory milestones under the two agreements with the US not for profit organizations would be $ 2.5 million if the Group meets all regulatory milestones.

Financial instruments

Financial instruments	12 Months Ended
	Jan. 31, 2018
Financial Instruments [Abstract]
Financial instruments	Financial instruments January 31, 2018 January 31, 2017 Note £000 £000 Loans and receivables Other receivables (1) 15 3,600 342 Cash and cash equivalents 20,102 28,062 23,702 28,404 Financial liabilities measured at amortized cost Trade and other payables 16 8,932 3,984 Financial liabilities on funding arrangements 18 3,090 5,919 12,022 9,903 (1) Prepayments and accrued income have been excluded as they are not considered to be a financial instrument. The Group’s activities expose it to a variety of financial risks: foreign currency risk; interest rate risk; credit risk; and liquidity risk. The Group’s principal financial instrument comprises cash and cash equivalents, and this is used to finance the Group’s operations. Other financial instruments include other receivables and trade and other payables that arise directly from its operations. The category of other receivables all mature within one year . The Group has compared fair value to book value for each class of financial asset and liability: no difference was identified other than in respect of financial liabilities on funding arrangements. The Group has a policy, which has been consistently followed, of not trading in financial instruments. The Group considers the financial liabilities on funding arrangements to be a level 3 financial instrument, and the fair value as at January 31, 2018 was calculated to be £4.7 million . The key inputs to the model are described more fully within Note 2 ‘ Critical accounting judgements and key sources of estimation uncertainty ’. Foreign currency risk Foreign currency risk refers to the risk that the value of a financial commitment or recognized asset or liability will fluctuate due to changes in foreign currency rates. The Group’s net income and financial position, as expressed in Pounds Sterling, are exposed to movements in foreign exchange rates against the US Dollar and the Euro. The main trading currencies of the Group are Pounds Sterling, the US Dollar, and the Euro. The Group is exposed to foreign currency risk as a result of trading transactions, including the receipt of potential payments related to the Group’s agreements with Sarepta, Eurofarma and BARDA, capital raises in the US and the translation of foreign bank accounts. The exposure to foreign exchange is monitored by the Group’s finance function. Exposures are generally managed through natural hedging via the currency denomination of cash balances and any realized impact currently is not material to the Group. January 31, 2018 January 31, 2017 £000 £000 Cash at bank and in hand Pounds Sterling 5,535 8,969 US Dollar 14,567 19,093 20,102 28,062 Interest rate risk One of the risks arising from the Group’s financial instruments is interest rate risk. The Group holds no derivative instruments to manage interest rate risk; instead the Group placed deposits surplus to short-term working capital requirements with a variety of reputable UK- and US-based banks and building societies. There were no amounts on short term deposits at the year end. These balances are placed at fixed rates of deposit with maturities between one month and three months. 19. Financial instruments (continued) The Group’s cash and short-term deposits were as follows: January 31, 2018 January 31, 2017 £000 £000 On current account 20,102 28,062 20,102 28,062 The interest rates for dated deposits were dependent on the rates offered by the Group’s borrowers. The interest rate for short-term deposits is variable dependent on the rates offered by the Group’s banks. During the year to January 31, 2018 , the banking facilities returned an average rate after fees of 0.02% ( 2017 : 0.04% ). The Group’s exposure to interest rate risk is illustrated with regard to the opening and closing cash balances and the difference that an increase or decrease of 1% in interest rates would have made based on the average cash balance of £ 24,082,000 ( 2017 : £ 22,183,000 ) in the year: Year ended January 31, 2018 (1)% Actual 1% Interest rate — 0.02 1.02 Interest received (£000) — 5 246 Year ended January 31, 2017 (1)% Actual 1% Interest rate — 0.04 1.04 Interest received (£000) — 8 230 Credit risk The credit risk with respect to customers is limited and the Group had no trade receivables outstanding at January 31, 2018 . Financial instruments that potentially expose the Group to concentrations of credit risk consist primarily of short-term cash investments and trade accounts receivable. Excess cash is invested in short-term money market instruments, including bank term deposits, money market and liquidity funds, and other debt securities provided by a variety of financial institutions with strong credit ratings; these investments typically bore minimal credit risk in the year. Cash balances maintained during the year have been principally held with reputable UK- and-US based banks and building societies. The Group does not believe that this constituted a major credit risk. As of January 31, 2018 and January 31, 2017 , the majority of cash and cash equivalents were placed with HSBC Bank plc. Liquidity risk Prudent liquidity risk management implies maintaining sufficient cash and the availability of funding through an adequate amount of committed credit facilities. The Group ordinarily finances its activities through cash generated from operating activities, and private and public offerings of equity securities. The Group anticipates that its operating cash flow together with available cash and cash equivalents will be sufficient to meet its anticipated needs. See Note 1 ‘Going concern’. All of the financial liability categories at each balance sheet date, excluding the financial liabilities on funding arrangements, have maturity dates of less than twelve months from the year end date. Provisions are amounts contingent upon events taking place and the recognition of deferred taxation is dependent upon future profits arising. Capital management The primary aim of the Group’s capital management, defined as its share capital and share premium, is to safeguard the Group’s ability to continue as a going concern, to support its programs and maximize shareholder value. The Group monitors its capital structure and makes adjustments, as and when it is deemed necessary and appropriate to do so, using such methods as the issuing of new ordinary shares. The capital structure of the Group has come entirely from equity issues.

Provisions for other liabilitie

Provisions for other liabilities and charges and contingent liabilities	12 Months Ended
	Jan. 31, 2018
Disclosure of contingent liabilities [abstract]
Provisions for other liabilities and charges and contingent liabilities	Provisions for other liabilities and charges and contingent liabilities Assumed contingent liabilities £000s Dilapidations £000s Royalties £000s Total At February 1, 2017 — 85 — 85 Additions 1,466 150 25 1,641 Used during the year — (85 ) — (85 ) At January 31, 2018 1,466 150 25 1,641 Assumed contingent liabilities £000s Dilapidations £000s Royalties £000s Total At February 1, 2016 — 73 — 73 Additions — 12 — 12 Used during the year — — — At January 31, 2017 — 85 — 85 Dilapidations Management has made a provision in respect of the dilapidation costs associated with the reinstatement obligations on their current lease based on best estimates. It is management’s intention to utilize the provision at the end of the lease term. During the year ended January 31, 2018 , the Group utilized the provisions classified as falling due within one year to settle its obligations in respect of the Group’s expired lease in Oxford, UK. Royalties The provision in respect of royalties relates to the amounts due to the Wellcome Trust being a share of the cumulative net revenue that the Group or its affiliates receive from exploiting the exploitation intellectual property or award products. The provision has been discounted to take account of the effect of the time value of money, applying an discount rate of 13% . Further information on the contingencies included in the Wellcome Trust arrangement are detailed below. Assumed contingent liability On December 23, 2017, the Group acquired Discuva Limited for total consideration of £11.1 million comprising £6.1 million of cash (being £5.0 million plus the value of net cash acquired by the Group as part of the acquisition) and £5.0 million of new ordinary shares of Summit of one penny nominal value issued to Discuva shareholders at a price of 170.4 pence per share. In addition, the Group assumed certain contingent liabilities as, certain employees, former employees and former directors of Discuva are eligible for payments from Discuva based on specified development and clinical milestones related to proprietary product candidates developed under the bacterial genetics-based platform. The timing of these potential payments is uncertain. On the date of acquisition the fair value of the assumed contingent liability was estimated using the expected value of the payments. The assumed contingent liabilities are subsequently measured at amortized cost using discounted cash flow models which calculate the risk adjusted net present values of estimated potential future cash flows of the payments. The assumed contingent liabilities are re-measured when there is a specific significant event that provides evidence of a significant change in the probability of successful development and clinical milestones being achieved. The models will be updated for changes in the probability of successful development and clinical milestones being achieved and other associated assumptions with the discount factor to remain unchanged within the model. A discount factor of 13% has been used to discount the contingent liabilities back to net present value. This discount factor has been calculated using appropriate measures and rates which could have been obtained in the period that the contingent liabilities were assumed. The estimated initial fair value of the assumed contingent liability as at January 31, 2018 is £1.5 million . The contingent liability has not been re-measured during the period. 20. Provisions for other liabilities and charges and contingent liabilities (continued) The table below describes the value of the assumed contingent liabilities as at January 31, 2018 of £1.5 million compared to what the total value would be following the presented variations to the underlying assumptions in the model: January 31, 2018 £000 Estimated assumed contingent liabilities 1,466 1% lower discount rate 1,579 1% higher discount rate 1,368 10% lower probability of success 1,208 10% higher probability of success 1,705 In addition to those items provided for above, the Group also has the following contingencies: MuOx Limited Under the research sponsorship agreement that the Group and Oxford University Innovation Limited, formerly known as Isis Innovation Limited, (‘OUI’) entered into in November 2013, amended and restated in July 2014 and amended in November 2015, the Group agreed to fund a drug research and discovery program in the University of Oxford laboratories to identify and research utrophin modulators to treat DMD. The Group will fund up to £4.6 million for this purpose over the initial six-year research period ending in November 2019. If the Group exercises its right to extend the research period by an additional year, the Group would be obliged to pay OUI an additional £0.8 million , for a total of £5.4 million . Under the option agreement that the Group and OUI entered into in November 2013, and as amended in November 2015, OUI granted to the Group an exclusive option to license the intellectual property (‘IP’) arising from the research carried out under the sponsored research agreement within specified periods. If the Group exercises its option to obtain a license under arising IP, the Group would be obliged to pay OUI up to a specified sum in option exercise fees. For any IP arising from the research carried out under the sponsored research agreement and for which the Group has exercised the option and that comprises new chemical entities or compounds, the Group would obtain an exclusive, sub licensable license. The Group is obligated to pay milestone payments of up to £ 75,000 upon the achievement of specified development milestones, whether such milestones occur prior to or after the Group’s exercise of the option to obtain an exclusive sub- licensable license. Following exercise of such an option, the Group would also be obligated to pay milestone payments upon the achievement of specified regulatory milestones with respect to each optioned compound. The specified regulatory milestone payment is due each time the specified regulatory milestone is achieved with respect to an optioned compound and, if each optioned compound achieved each regulatory milestone, the Group would be obligated to pay OUI a total of £ 3.7 million in regulatory milestone payments for each optioned compound. The Group would also be obligated to pay OUI a low single-digit royalty of net sales by the Group, its affiliates or sub-licensees of any product containing an optioned compound. The School of Pharmacy, University of London The Group has agreed to pay The School of Pharmacy, University of London, a low single-digit share of all revenue, pre and post commercialization, received by the Group in respect of ridinilazole up to a maximum of £ 1.0 million in consideration of their role in the development of the initial compound series from which ridinilazole was later identified. Following the license and commercialization agreement entered into with Eurofarma Laboratórios S.A., an initial payment became due to The School of Pharmacy and has been provided for at the year end date. Wellcome Trust Under the renewed terms of the funding arrangement the Wellcome Trust are entitled to a share of the cumulative net revenue that the Group or its affiliates receive from exploiting the exploitation IP or award products. If Summit undertakes the commercialization of ridinilazole, the Wellcome Trust would be eligible to receive a low-single digit percentage share of net revenues. If a third-party undertakes the commercialization of ridinilazole, the Wellcome Trust would be eligible to receive a mid-single digit percentage share of net revenues received by Summit from sales by the third-party and a milestone payment of a low-single digit percentage of any cumulative pre-commercial payments received by Summit from third-party licensees. In both instances outlined above the Group would also be obligated to pay the Wellcome Trust a milestone of a specified amount if cumulative net revenue exceeds a specified amount. Following the license and commercialization agreement entered into with Eurofarma, an initial payment became due to the Wellcome Trust upon commercialization of ridinilazole. The payment has been provided for by the Group as at the year end date and has been discounted back to net present value relative to the expected timing of commercialization of ridinilazole.

Deferred tax liability

Deferred tax liability	12 Months Ended
	Jan. 31, 2018
Deferred tax assets and liabilities [abstract]
Deferred tax liability	Deferred tax liability The Group's deferred tax liability includes amounts recognized upon acquisition of MuOx Limited, which took place in the year ended January 31, 2014, and amounts recognized upon acquisition of Discuva Limited, which took place in the year ended January 31, 2018. January 31, 2018 January 31, 2017 £000 £000 Amounts falling due after more than one year At February 1 565 664 Acquisition of subsidiary (Note 27) 1,814 — Credited to the income statement — (99 ) At January 31 2,379 565 There is an unrecognized deferred tax asset in relation to the trading losses carried forward of £ 11,944,000 ( 2017 : £ 10,882,000 ), £ 26,000 in relation to provisions ( 2017 : £ 14,000 ) and £ 588,000 ( 2017 : £ 230,000 ) in relation to future exercisable shares. There is a deferred tax liability of £ 71,000 ( 2017 : £ 3,000 ) in respect of accelerated capital allowances, which has been offset against the deferred tax asset in relation to trading losses carried forward. The unrecognized deferred tax asset would be recovered against future company taxable profits. In the opinion of the Directors, there is insufficient evidence that the asset will be recovered, and as such the deferred tax asset has not been recognized in the financial statements.

Share capital

Share capital	12 Months Ended
	Jan. 31, 2018
Disclosure of share capital, reserves and other equity interest [Abstract]
Share capital	Share capital January 31, 2018 January 31, 2017 £000 £000 Allotted, called up and fully paid 73,563,624 (2017: 61,841,566) Ordinary shares of 1p each 736 618 736 618 Changes to the number of Ordinary Shares in issue have been as follows: Number of Shares Total Nominal Value £000 Total Share Premium £000 Total Consideration £000 At February 1, 2016 61,290,740 613 46,035 46,648 New share capital issued from exercise of warrants 177,045 2 105 107 Share options exercised 373,781 3 280 283 At January 31, 2017 61,841,566 618 46,420 47,038 At February 1, 2017 61,841,566 618 46,420 47,038 New share capital issued (net of transaction costs) 8,389,250 84 13,419 13,503 Issue of Ordinary Shares as consideration for a business combination (1) 2,934,272 30 — 30 New share capital issued from exercise of warrants 50,000 1 9 10 Share options exercised 348,536 3 389 392 At January 31, 2018 73,563,624 736 60,237 60,973 (1) The difference between the nominal value of the share capital acquired in Discuva Limited and fair value of shares issued in the business combination using the acquisition method of accounting was recognized as part of the Group's merger reserve arising as a result of certain requirements in the United Kingdom. 22. Share capital (continued) On February 22, 2017, warrants over 50,000 Ordinary Shares were exercised at a price of 20 pence per share. The issue of shares raised net proceeds of £10,000 . On September 18, 2017, the Group completed an underwritten public offering on the Nasdaq Global Market issuing 1,459,000 American Depositary Shares (‘ADS’) at a price of $12.00 per ADS. The underwriters also exercised in full their over-allotment option to purchase an additional 218,850 ADSs on the same terms which was also completed on September 18, 2017. Each ADS represents five Ordinary Shares of one penny nominal value each in the capital of the Company, meaning 8,389,250 new Ordinary Shares were issued. Total gross proceeds of $20.1 million ( £14.9 million ) were raised and directly attributable transaction costs of £1.4 million were incurred and accounted as a deduction from equity. On December 23, 2017, the Group acquired 100% of the share capital of Discuva Limited, a privately held UK-based company. As part of the consideration the Group issued £5.0 million in new Ordinary Shares of Summit of one penny nominal value to Discuva shareholders at a price of 170.4 pence per share, meaning 2,934,272 Ordinary Shares were issued. See note 27 ' Business combinations ' for details. During the year to January 31, 2018 , the following exercises of share options took place: Date Number of options exercised April 10, 2017 16,667 June 27, 2017 19,425 September 28, 2017 32,500 September 29, 2017 94,425 October 2, 2017 97,199 October 4, 2017 88,320 348,536 The total net proceeds from exercised share options during the year was £ 0.39 million . All new Ordinary Shares rank pari passu with existing Ordinary Shares. Following the public offering and exercise of the over-allotment option, the issuance of shares as consideration for a business combination and the exercise of the above share options and warrants, the number of Ordinary Shares in issue was 73,563,624 . Dividends No dividends were paid or declared in the year ended January 31, 2018 (year ended January 31, 2017 : £ nil ).

Share option scheme and Restric

Share option scheme and Restricted Stock Units	12 Months Ended
	Jan. 31, 2018
Disclosure of share-based payment arrangements [Abstract]
Share option scheme and Restricted Stock Units	Share option scheme and Restricted Stock Units At January 31, 2018 , the outstanding share options, which include the share options granted to Directors, are shown below: Date of grant Exercise price (£) Number of shares Date from which exercisable Expiry date Approved EMI scheme April 7, 2011 0.65 5,873 April 8, 2014 April 7, 2021 May 10, 2012 0.60 150,046 May 10, 2014 May 10, 2022 December 24, 2012 0.85 21,500 December 24, 2015 December 24, 2022 January 31, 2013 0.20 72,973 July 31, 2013 January 31, 2023 July 15, 2014 1.26 249,621 July 15, 2016 July 15, 2024 January 21, 2015 1.23 25,000 January 21, 2017 January 21, 2025 June 23, 2016 1.05 560,343 June 23, 2017 June 23, 2026 1,085,356 23. Share option scheme and Restricted Stock Units (continued) Date of grant Exercise price (£) Number of shares Date from which exercisable Expiry date Unapproved scheme April 7, 2011 0.65 13,981 April 8, 2014 April 8, 2021 December 18, 2013 0.20 76,364 June 19, 2013 June 19, 2023 June 23, 2014 1.48 400,000 June 23, 2015 June 23, 2024 July 15, 2014 1.26 847,500 July 15, 2016 July 15, 2024 July 15, 2014 0.80 100,000 May 30, 2015 May 30, 2023 January 21, 2015 1.23 75,000 January 21, 2017 January 21, 2025 June 16, 2015 1.43 2,252,333 June 16, 2017 June 16, 2025 October 15, 2015 1.31 50,000 October 15, 2017 October 15, 2025 June 23, 2016 0.01 110,576 July 21, 2016 June 23, 2026 June 23, 2016 1.05 250,000 June 23, 2019 June 23, 2026 June 23, 2016 1.05 363,092 June 23, 2017 June 23, 2026 April 11, 2017 1.85 150,436 April 11, 2018 April 11, 2027 April 11, 2017 1.85 324,324 April 11, 2020 April 11, 2027 April 11, 2017 1.85 762,764 June 23, 2019 April 11, 2027 June 27, 2017 1.80 34,711 June 27, 2017 June 27, 2027 July 18, 2017 1.83 533,629 June 18, 2018 June 18, 2027 July 18, 2017 1.83 367,924 July 18, 2020 July 18, 2027 October 24, 2017 1.80 481,975 October 24, 2018 October 24, 2027 October 24, 2017 1.80 297,271 October 24, 2020 October 24, 2027 7,491,880 8,577,236 The Group has no legal or constructive obligation to repurchase or settle the options in cash. The movement in the number of share options is set out below: Weighted average exercise price £ Year ended January 31, 2018 Weighted average exercise price £ Year ended January 31, 2017 Outstanding at February 1, 1.17 7,383,401 1.29 7,006,306 Granted during the year 1.83 2,972,903 0.98 1,667,576 Lapsed during the year 0.99 (1,430,532 ) 1.90 (916,700 ) Exercised during the year 1.13 (348,536 ) 0.76 (373,781 ) Number of outstanding options at January 31, 1.43 8,577,236 1.17 7,383,401 As at January 31, 2018 , 2,042,546 share options were capable of being exercised with a weighted average exercise price per option of 100 pence ( 2017 : 1,972,654 with a weighted average exercise price per option of 84 pence). The options outstanding at January 31, 2018 had a weighted average exercise price per option of 143 pence ( 2017 : 117 pence), and a weighted average remaining contractual life of 7.9 years ( 2017 : 8.9 years). 23. Share option scheme and Restricted Stock Units (continued) The fair value per share option award granted and the assumptions used in the calculations are as follows: Date of grant Type of award Number of shares Exercise price (£) Share price at grant date (£) Fair value per option (£) Award life (years) Risk free rate April 07, 2011 EMI 5,873 0.65 0.65 0.47 5.00 2.70 % April 07, 2011 Unapproved 13,981 0.65 0.65 0.47 5.00 2.70 % May 10, 2012 EMI 150,046 0.60 0.52 0.24 5.00 1.00 % December 24, 2012 EMI 21,500 0.85 0.85 0.59 5.00 0.90 % January 31, 2013 EMI 72,973 0.20 0.94 0.74 5.00 1.00 % December 18, 2013 Unapproved 76,364 0.20 1.85 1.65 5.00 1.00 % June 23, 2014 Unapproved 400,000 1.48 1.50 0.92 3.80 1.30 % July 15, 2014 EMI 249,621 1.26 1.26 0.65 3.00 1.30 % July 15, 2014 Unapproved 847,500 1.26 1.26 0.65 3.00 1.30 % July 15, 2014 Unapproved 100,000 0.80 0.81 0.65 1.90 0.50 % January 21, 2015 EMI 25,000 1.23 1.22 0.64 3.00 0.60 % January 21, 2015 Unapproved 75,000 1.23 1.22 0.64 3.00 0.60 % June 15, 2015 Unapproved 2,252,333 1.43 1.44 0.65 3.00 0.91 % October 15, 2015 Unapproved 50,000 1.31 1.36 0.57 3.00 0.70 % June 23, 2016 EMI 560,343 1.05 1.05 0.25 3.00 0.30 % June 23, 2016 Unapproved 110,576 0.01 1.05 1.04 0.50 0.30 % June 23, 2016 Unapproved 250,000 1.05 1.05 0.24 3.00 0.30 % June 23, 2016 Unapproved 363,092 1.05 1.05 0.25 3.00 0.30 % April 11, 2017 Unapproved 150,436 1.85 1.85 0.68 3.00 0.07 % April 11, 2017 Unapproved 324,324 1.85 1.85 0.72 3.00 0.13 % April 11, 2017 Unapproved 762,764 1.85 1.85 0.76 2.20 0.07 % June 27, 2017 Unapproved 34,711 1.80 1.78 0.64 3.00 0.23 % July 18, 2017 Unapproved 533,629 1.83 1.83 0.66 3.00 0.26 % July 18, 2017 Unapproved 367,924 1.83 1.83 0.74 3.00 0.31 % October 24, 2017 Unapproved 481,975 1.80 1.70 0.57 3.00 0.46 % October 24, 2017 Unapproved 297,271 1.80 1.70 0.66 3.00 0.55 % 8,577,236 The key assumptions used in calculating the share-based payments are as follows: a. Black-Scholes valuation methodology was used for all share options issued since 2016. b. The majority of share option awards made before 2016 are performance related and have been modeled using the Monte-Carlo methodology. The options granted on January 31, 2013 and December 18, 2013 at an exercise price of 20 pence respectively, and 16,667 of the unapproved options granted on June 23, 2014 are not performance related. c. Figures in the range of 39% - 134% have been used for expected volatility. This has been derived from historic share price performance, weighted to exclude periods of unusually high volatility. d. Expected dividend yield is nil, consistent with the Directors’ view that the Group’s business model is to generate value through capital growth rather than the payment of dividends. e. The risk free rate is equal to the prevailing UK Gilts rate at grant date that most closely matches the expected term of the grant. f. Share options are assumed to be exercised immediately on vesting. g. The fair value of share options awarded where there are different vesting installments is the average of the fair values calculated per installment. 23. Share option scheme and Restricted Stock Units (continued) At January 31, 2018 , the outstanding Restricted Stock Units (‘RSUs’) in the form of nominal-cost options, which have been granted to Non-Executive Directors, are shown below: Date of grant Exercise price (£) Number of shares Date from which exercisable Expiry date July 18, 2017 0.01 136,991 July 18, 2018 December 31, 2018 October 24, 2017 0.01 138,886 October 24, 2018 December 31, 2018 275,877 The movement in the number of RSUs is set out below: Weighted Year ended January 31, 2018 Weighted Year ended January 31, 2017 Outstanding at February 1, — — — — Granted during the year 0.01 275,877 — — Number of outstanding RSUs at January 31, 0.01 275,877 — — As at January 31, 2018 , nil RSUs were capable of being exercised ( 2017 : nil ). The RSUs outstanding at January 31, 2018 had a weighted average exercise price per RSU of 1 penny ( 2017 : nil ), and a weighted average remaining contractual life of 0.9 years. The fair value per RSU's award granted and the assumptions used in the calculations are as follows: Date of grant Number of shares Exercise price (£) Share price at grant date (£) Fair value per option (£) Award life (years) Risk free rate July 18, 2017 136,991 0.01 1.83 1.82 1.00 0.24 % October 24, 2017 138,886 0.01 1.70 1.69 1.00 0.40 % 275,877 The key assumptions used in calculating the share-based payments are as follows: a. Black-Scholes valuation methodology was used for all RSUs. b. Figures in the range of 47% - 84% have been used for expected volatility. This has been derived from historic share price performance, weighted to exclude periods of unusually high volatility. c. Expected dividend yield is nil, consistent with the Directors’ view that the Group’s business model is to generate value through capital growth rather than the payment of dividends. d. The risk free rate is equal to the prevailing UK Gilts rate at grant date that most closely matches the expected term of the grant. e. RSUs are assumed to be exercised immediately on vesting.

Fixed assets purchase commitmen

Fixed assets purchase commitments	12 Months Ended
	Jan. 31, 2018
Fixed Assets Purchase Commitments [Abstract]
Fixed assets purchase commitments	Fixed assets purchase commitments At January 31, 2018 , the Group had no capital commitments ( January 31, 2017 : nil ).

Leasing and other commitments

Leasing and other commitments	12 Months Ended
	Jan. 31, 2018
Leases1 [Abstract]
Leasing and other commitments	Leasing and other commitments The Group’s total commitments under non-cancelable operating leases are as follows: Land & Buildings January 31, 2018 January 31, 2017 £000 £000 Leases which expire Not later than one year 337 88 Later than one year and not later than five years 1,143 122 1,480 210 On February 17, 2017, the Group signed a ten year lease for new UK office premises. The total commitment of the new lease from the year end January 31, 2018 up until the break clause is £687,000 . In addition to land and buildings, the Group enters into contracts in the normal course of business with contract research organizations to assist in the performance of research and development activities and other services and products for operating purposes. These contracts generally provide for termination on notice, and therefore are cancelable contracts and not reflected in the table above.

Related party transactions

Related party transactions	12 Months Ended
	Jan. 31, 2018
Disclosure of transactions between related parties [abstract]
Related party transactions	Related party transactions Dr. Frank Armstrong was a member of the board of Directors of Juniper Pharmaceuticals Inc., during the year until September 2017. During the year £nil ( 2017 : £ 65,000 ) was paid to Juniper Pharma Services Limited, a wholly owned subsidiary of Juniper Pharmaceuticals Inc, in respect of clinical manufacturing services. Of this amount £ nil was outstanding at the year end ( 2017 : £ nil ). Professor Stephen Davies is a member of the board of directors of Oxford University Innovation Limited. During the year £24,000 ( 2017 : £36,000 ) was charged by Oxford University Innovation Limited in connection with payments due in respect of the strategic alliance between the Group and Oxford University that was entered into in November 2013. Of this amount £12,000 was outstanding at the year end ( 2017 : £nil ). See Note 6 ‘ Directors and employees ’ for details of key management emoluments.

Business combinations

Business combinations	12 Months Ended
	Jan. 31, 2018
Disclosure of detailed information about business combination [abstract]
Business combinations	Business combinations On December 23, 2017, the Group acquired 100% of the share capital of Discuva Limited ('Discuva'), a privately held UK-based company. As part of the acquisition the Group has obtained a bacterial genetics-based platform to generate new mechanism antibiotics . Under the terms of the acquisition, the consideration to Discuva shareholders comprised of £6.1 million in cash (being £5.0 million plus the value of net cash acquired by the Group as part of the acquisition) and £5.0 million in new ordinary shares of Summit of one penny nominal value issued to Discuva shareholders at a price of 170.4 pence per share, representing 2,934,272 Ordinary Shares. The Group recognized £1.8 million of goodwill upon the acquisition of Discuva. Goodwill represents the difference between the fair value of the identifiable assets acquired and liabilities assumed for Discuva and the amount paid in consideration and is attributable to the existing Discuva workforce (which cannot be separately valued under accounting standards). The goodwill recognized will not be deductible for tax purposes. 27. Business combinations (continued) The consideration paid for Discuva and the identifiable assets acquired and liabilities assumed are as follows: £000 Consideration Cash 6,091 2,934,272 new Summit Therapeutics plc Ordinary Shares issued 5,000 Total consideration 11,091 Book value £000 Fair value adjustment £000 Fair value £000 Recognized amounts of identifiable assets acquired and liabilities assumed Cash and cash equivalents 1,316 — 1,316 Property, plant and equipment 329 — 329 Intangible assets - option over non-financial assets 668 — 668 Intangible assets - bacterial genetics-based platform — 10,670 10,670 Trade and other receivables 1,129 — 1,129 Trade and other payables (1,555 ) — (1,555 ) Assumed contingent liabilities — (1,466 ) (1,466 ) Deferred tax liabilities — (1,814 ) (1,814 ) Book and fair value of identifiable net assets 1,887 7,390 9,277 Goodwill — 1,814 1,814 Total consideration 1,887 9,204 11,091 The Group has recognized £10.7 million of identified intangible assets acquired related to the bacterial genetics-based platform. See Note 13 ' Intangible assets ' for further details. The Group has assumed £1.5 million of contingent liabilities as part of the acquisition as, certain employees, former employees and former directors of Discuva are eligible for payments from Discuva based on specified development and clinical milestones related to proprietary product candidates developed under the platform. The timing of these potential payments is uncertain. See Note 20 ' Provisions for other liabilities and charges and contingent liabilities ' for further details. The gross contractual amount for trade and other receivables due is £1.1 million , all of which is expected to be collectible. The results of Discuva have been included in the Group’s Consolidated Income Statement from December 23, 2017, contributing £0.3 million ( 1.2% ) of Group revenues for the year ending January 31, 2018. Discuva contributed a gain of £0.02 million to the Group's total comprehensive loss for the year ended January 31, 2018 . If the acquisition had occurred on February 1, 2017, unaudited pro forma combined revenue for the year ended January 31, 2018 would have been £28.1 million , unaudited pro forma combined total comprehensive loss for the year ended January 31, 2018 would have been £7.3 million and unaudited pro forma combined basic and diluted loss per Ordinary Share from operations for the year ended January 31, 2018 would have been 11 pence. These amounts have been calculated using Discuva's results and adjusting them for costs associated with the acquisition, differences in the accounting policies between the Group and Discuva and amounts restated in Discuva's financial information. Transaction costs Acquisition related costs of £0.4 million have been excluded from the consideration transferred and recognized as a general and administration expense in the Consolidated Statement of Comprehensive Income for the year ended January 31, 2018 .

Subsequent events

Subsequent events	12 Months Ended
	Jan. 31, 2018
Disclosure of events after reporting period [Abstract]
Subsequent events	Subsequent events On March 29, 2018, the Group completed a placing on the AIM market of the London Stock Exchange, issuing 8,333,333 new Ordinary Shares at a price of 180 pence per share. Total proceeds of £15.0 million were raised (before expenses). Following the placing the number of Ordinary Shares in issue was 81,901,173 .

Basis of accounting (Policies)

Basis of accounting (Policies)	12 Months Ended
	Jan. 31, 2018
Basis Of Presentation [Abstract]
Basis of preparation	Basis of preparation The consolidated financial statements have been prepared in accordance with International Financial Reporting Standards and IFRS Interpretations Committee interpretations ('IFRS') as issued by the IASB. The Consolidated Financial Statements have been prepared on a going concern basis and under the historical cost convention. These consolidated financial statements were authorized by the Board of Directors on April 11, 2018.
Going concern	Going concern The financial information in these financial statements has been prepared on a going concern basis which assumes that the Group will continue in operational existence for the foreseeable future. The Group expects it will need to raise additional funding in the future in order to support research and development efforts, potential commercialization-related activities if any of its product candidates receive marketing approval, as well as to support activities associated with operating as a public company in both the United States and the United Kingdom. Management expects to finance its cash needs through a combination of some, or all, of the following: equity offerings, collaborations, strategic alliances, grants and clinical trial support from government entities, philanthropic, non-government and not for profit organizations and patient advocacy groups, debt financings, and marketing, distribution or licensing arrangements. After review of the future operating costs of the business in conjunction with the cash held at January 31, 2018 , management is confident about the Group’s ability to continue as a going concern.
Use of estimates	Use of estimates The preparation of the financial statements, in conformity with IFRS, requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Although these estimates are based on management’s best knowledge of the amount, event or actions, actual results may ultimately differ from those estimates. The areas involving higher degree of judgement or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 2 ‘ Critical accounting judgements and key sources of estimation uncertainty ’.
Basis of consolidation	Basis of consolidation The Consolidated Financial Statements incorporate the financial statements of the Group and entities controlled by the Group made up to the reporting date. Control is achieved where the Company has the power to govern the financial and operating policies of an investee entity so as to obtain benefits from its activities. The results of subsidiary undertakings acquired or disposed of in the year are included in the Consolidated Statement of Comprehensive Income from the effective date of acquisition or up to the effective date of disposal, as appropriate. Where necessary, adjustments are made to the financial statements of subsidiaries to bring the accounting policies used into line with those used by the Group. All intra-group transactions, balances, income and expenses are eliminated on consolidation.
Revenue recognition	Revenue recognition Revenue is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business net of value added tax and other sales-related taxes. The Group recognizes revenue when the amount can be reliably measured; when it is probable that future economic benefits will flow to the Group; and when specific criteria have been met for each of the Group’s activities. Licensing agreements may consist of multiple elements and provide for varying consideration terms, such as upfront, development, regulatory and sales milestones, and sales royalties and similar payments. Where such arrangements can be divided into separate units of accounting (each unit constituting a separate earnings process), the arrangement consideration is allocated to the different units based on their relative fair values and recognized over the respective performance period. 1. Basis of accounting (continued) Revenues from non-refundable, upfront payments are assessed as to whether they relate to the provision of a license or development services. Upfront payments classified as the provision of a license are recognized in full immediately while revenue related to further development services are initially reported as deferred revenue on the Consolidated Statement of Financial Position and are recognized as revenue over the development period. Development and regulatory approval milestone payments are recognized as revenue based on the percentage of completion method on the assumption that all stages will be completed successfully. The cumulative revenue recognized is limited to non-refundable amounts already received or reasonably certain to be received. Revenues attributable to the development cost share element of a contract are recognized on an accruals basis as the underlying expenditure is incurred in accordance with the terms of the relevant agreement. Royalty revenue is recognized on an accrual basis in accordance with the substance of the relevant agreement, provided that it is probable that the economic benefits will flow to the Group and the amount of revenue can be measured reliably. Sales related milestone payments are recognized in full in the period in which the relevant milestone is achieved.
Business Combinations	Business Combinations The cost of an acquisition is measured as the fair value of the assets exchanged, equity instruments issued and liabilities incurred or assumed at the date of exchange. Identifiable assets acquired together with liabilities and contingent liabilities assumed in a business combination are measured initially at their fair values at the acquisition date. The excess of the cost of acquisition over the fair value of the identifiable net assets is recorded as goodwill. Goodwill is not amortized but is reviewed for impairment at least annually and more frequently whenever there is an indication of impairment. See Note
Intangible Assets	Intangible Assets In-process research and development that is separately acquired as part of a company acquisition or in-licensing agreement is capitalized even if they have not yet demonstrated technical feasibility, which is usually signified by regulatory approval. Amortization will commence when either products underpinned by the intellectual property rights or the rights themselves become available for use . The intangible asset relating to intellectual property rights for the utrophin program capitalized as part of the acquisition of MuOx Limited in November 2013 is considered to be not yet available for use. As such, it will not be subject to amortization and will be tested for impairment at least annually or whenever there is an indicator of impairment. Amortization will commence when either products underpinned by the intellectual property rights or the rights themselves become available for use. The intangible asset relating to the acquired discovery and development platform capitalized as part of the acquisition of Discuva Limited in December 2017 is considered to be available for use. As such, it will be subject to amortization over the period of the relevant associated patents. Other intangible assets are amortized in equal installments over their useful estimated lives as follows: All patents (once filed) Over the period of the relevant patents (assumed to be 20 years) Option over non-financial assets Over the period of the relevant agreement
Impairment of assets	Impairment of assets At each year end date, the Group reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (cash-generating units). An impairment loss is recognized for the amount by which the asset’s or cash-generating unit’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of fair value, reflecting market conditions less costs to sell, and value in use based on an internal discounted cash flow evaluation. Impairment losses recognized for cash-generating units is charged pro rata to the other assets in the cash generating unit. All tangible and intangible assets are subsequently reassessed for indications that an impairment loss previously recognized may no longer exist. See Note 13 ‘ Intangible assets ’ for details.
Property, plant and equipment	Property, plant and equipment Property, plant and equipment are stated at cost less depreciation. Cost comprises the purchase price plus any incidental costs of acquisition and commissioning. Depreciation is calculated to write-off the cost, less residual value, in equal annual installments over their estimated useful lives as follows: Leasehold improvements Over the period of the remaining lease Laboratory equipment 3-10 years Office and IT equipment 3-5 years The residual value, if not insignificant, is reassessed annually.
Provisions	Provisions Provisions are recognized when the Group has a present obligation (legal or constructive) as a result of a past event, where it is probable that an outflow of resources will be required to settle the obligation, and where a reliable estimate can be made of the amount of the obligation. If the effect of the time value of money is material, the expected future cash flows will be discounted using a pre-tax discount rate, adjusted for risk where it is inherent in a specific liability.
Other operating income	Other operating income Other operating income includes income received and recognized from government agencies, philanthropic, non-government, not for profit organizations and patient advocacy groups which are accounted for in accordance with IAS 20, ‘Accounting for Government Grants and Disclosure of Government Assistance’. Monies received through these means are held as deferred revenue in the Consolidated Statement of Financial Position and are released to the Consolidated Statement of Comprehensive Income as the underlying expenditure is incurred and to the extent the conditions of the grant are met.
Foreign currencies	Foreign currencies Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the year end date. All differences are taken to the Consolidated Statement of Comprehensive Income. Assets and liabilities of subsidiaries that have a functional currency different from the presentation currency (Pound Sterling), are translated at the closing rate at the date of each statement of financial position presented. Income and expenses are translated at average exchange rates. Any resulting differences are recognized in other comprehensive (loss)/income in the Consolidated Statement of Comprehensive Income.
Employee benefits	Employee benefits All employee benefit costs, notably holiday pay, bonuses and contributions to Company or personal defined contribution pension schemes are charged to the Consolidated Statement of Comprehensive Income on an accruals basis.
Operating leases	Operating leases Costs in respect of operating leases are charged to the Consolidated Statement of Comprehensive Income on a straight line basis over the lease term. Assets relating to lease incentives are depreciated over the life of the lease and are included in property, plant and equipment as leasehold improvements.
Research and development	Research and development All ongoing research expenditure is currently expensed in the period in which it is incurred. Due to the regulatory environment inherent in the development of the Group’s products, the criteria for development costs to be recognized as an asset, as set out in IAS 38 ‘Intangible Assets’, are not met until a product has received regulatory approval, and it is probable that future economic benefit will flow to the Group. The Group currently has no qualifying expenditure.
Cash and cash equivalents	Cash and cash equivalents Cash and cash equivalents include cash in hand and deposits held on call with the bank.
Share-based payments	Share-based payments In accordance with IFRS 2 ‘Share-based Payment’, share options and restricted stock units are measured at fair value at their grant date. The fair value for the majority of the options is calculated using the Black-Scholes formula and charged to the Consolidated Statement of Comprehensive Income on a straight-line basis over the expected vesting period. For those options issued with vesting conditions other than remaining in employment (for example, those conditional upon the Group achieving certain predetermined financial criteria) either a Monte-Carlo model or a Hull White trinomial lattice model have been used. At each year end date, the Group revises its estimate of the number of options that are expected to become exercisable. This estimate is not revised according to estimates of changes in market based conditions.
Current taxation	Current taxation Income tax is recognized or provided at amounts expected to be recovered or paid using the tax rates and tax laws that have been enacted or substantively enacted at the year end date. Current tax includes research and development tax credits which are calculated in accordance with the UK research and development tax credit regime applicable to small and medium sized companies. Research and development expenditure which is not eligible for reimbursement under the small and medium sized companies regime, such as expenditure incurred on projects for which we receive income, may be reimbursed under the UK Research and Development Expenditure Credit (‘RDEC’) scheme. Receipts under the RDEC scheme are presented within other operating income as they are similar in nature to grant income.
Deferred taxation	Deferred taxation Deferred tax assets and liabilities are recognized where the carrying amount of an asset or liability in the Consolidated Statement of Financial Position differs from its tax base, except for differences arising on: • the initial recognition of goodwill; • the initial recognition of an asset or liability in a transaction which is not a business combination and at the time of the transaction affects neither accounting or taxable profit; and • investments in subsidiaries and jointly controlled entities where the Group is able to control the timing of the reversal of the difference, and it is probable that the difference will not reverse in the foreseeable future. Recognition of deferred tax assets is restricted to those instances where it is probable that taxable profit will be available against which the difference can be utilized. The amount of the asset or liability is determined using tax rates that have been enacted or substantively enacted by the reporting date and are expected to apply when the deferred tax liabilities/(assets) are settled/(recovered).
Financial instruments	Financial instruments The Group holds financial assets and liabilities in the respective categories ‘Loans and receivables’ and ‘Financial liabilities measured at amortized cost’. Loans and receivables are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market. They arise when the Group provides money, goods or services directly to the debtor with no intention of trading the receivable. They are included in current assets, except for maturities greater than 12 months after the year end date, which are classified as non-current assets. Other liabilities consist of trade and other payables, being balances arising in the course of normal business with suppliers, contractors and other service providers, and borrowings, being loans and hire purchase funds advanced for the refit of leasehold premises and the purchase of laboratory equipment, fixtures and fittings. Loans and receivables, and other liabilities are initially recorded at fair value, and thereafter at amortized cost, if the timing difference is deemed to impact the fair value of the asset or liability. The Group assesses at each year end date whether there is objective evidence that a financial asset or a group of financial assets is impaired. The Group does not hold or trade in derivative financial instruments.
Warrants	Warrants Warrants issued by the Group are recognized and classified as equity when upon exercise, the Company would issue a fixed amount of its own equity instruments (Ordinary Shares) in exchange for a fixed amount of cash or another financial asset. Consideration received, net of incremental costs directly attributable to the issue of such new warrants, is shown in equity. Such warrants are not re-measured at fair value in subsequent reporting periods.

Changes to accounting policies

Changes to accounting policies (Tables)	12 Months Ended
	Jan. 31, 2018
Disclosure of expected impact of initial application of new standards or interpretations [abstract]
Disclosure of detailed information about effective accounting standards	During the year ended January 31, 2018 the following new standards, amendments to standards or interpretations became effective for the first time. The adoption of these interpretations, standards or amendment to standards were either not relevant for the Group or have not led to any significant impact on the Group’s financial statements. International Accounting Standards (IAS/IFRS) Effective Date Amendments resulting from Annual Improvements 2014–2016 Cycle (clarifying scope) January 1, 2017 Amendment to IAS 7, Disclosure Initiative January 1, 2017 Amendment to IAS 12, Recognition of Deferred Tax Assets for Unrealised Losses January 1, 2017
Disclosure of detailed information about accounting standards not yet effective	At the date of signing these Consolidated Financial Statements, the following standards, amendments and interpretations, which have not been applied in these financial statements, were in issue but not yet effective: International Accounting Standards (IAS/IFRS) Effective Date IFRS 9, Financial Instruments (as revised in 2014) January 1, 2018 IFRS 15, Revenue from Contracts with Customers January 1, 2018 Amendment to IFRS 2 Share Based Payments, Classification and Measurement of Share-based Payment Transactions January 1, 2018 Amendments resulting from Annual Improvements 2014–2016 Cycle January 1, 2018 IFRIC 22 Foreign Currency Transactions and Advance Consideration January 1, 2018 IFRS 16, Leases January 1, 2019 Amendments to IFRS 3 Business Combinations, Remeasurement of previously held interest January 1, 2019 Amendments to IAS 12 Income Taxes, Income tax consequences of dividends January 1, 2019 Amendments to IAS 19 Employee Benefits, Plan amendments, curtailments or settlements January 1, 2019 Amendments to IAS 23 Borrowing Costs, Borrowing costs eligible for capitalisation January 1, 2019 Amendments resulting from Annual Improvements 2015–2017 Cycle January 1, 2019 IFRIC 23 Uncertainty over Income Tax Treatments January 1, 2019 Amendment to IFRS 10 and IAS 28, Sale or Contribution of Assets between an Investor and its Associate or Joint Venture To be determined
Schedule of prospective changes to revenue	The Group has performed an evaluation of the expected effect of adoption on the accounting for the license and collaboration agreement with Sarepta, the license and commercialization with Eurofarma and the research collaboration agreement with Roche. The Group currently estimates the following cumulative effect to total license and collaboration agreements revenues and research collaboration agreement revenue for the year ended January 31, 2018 after the adoption of IFRS 15: Year ended January 31, 2018 £000 Estimated decrease in revenue by category: Licensing agreements 13,059 Research collaboration agreement —

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Jan. 31, 2018
Revenue [abstract]
Disclosure of detailed information about revenue	Year ended January 31, 2018 Year ended January 31, 2017 Year ended January 31, 2016 £000 £000 £000 Analysis of revenue by category: Licensing agreements 25,109 2,304 — Research collaboration agreement 310 — — 25,419 2,304 —
Disclosure of revenue from contracts with customers	Year ended January 31, 2018 Year ended January 31, 2017 Year ended January 31, 2016 £000 £000 £000 Analysis of revenue by geography: United States 25,067 2,304 — Latin America 42 — — Europe 310 — — 25,419 2,304 —

Directors and employees (Tables

Directors and employees (Tables)	12 Months Ended
	Jan. 31, 2018
Disclosure Directors And Employees [Abstract]
Detailed disclosure about average number of employees	The average monthly number of employees of the Group, including Executive Directors, during the year was: January 31, 2018 January 31, 2017 January 31, 2016 Technical, research and development 34 23 19 Corporate and administration 26 21 18 60 44 37
Detailed disclosure about employee expense	Their aggregate remuneration comprised: Year ended January 31, 2018 Year ended January 31, 2017 Year ended January 31, 2016 £000 £000 £000 Wages and salaries 7,493 5,932 3,876 Social security costs 643 434 247 Other pension costs 350 332 90 Share-based payment 1,607 1,379 1,160 10,093 8,077 5,373 6. Directors and employees (continued) Key management of the Group are members of the Executive Management Team. The aggregate amounts of key management compensation are set out below: Year ended January 31, 2018 Year ended January 31, 2017 Year ended January 31, 2016 £000 £000 £000 Short-term employee benefits Wages and salaries 1,520 1,252 934 Social security costs 162 98 58 1,682 1,350 992 Post-employment benefits Amounts paid in lieu of employer pension contributions 32 17 17 Other pension costs 14 11 — 46 28 17 Share-based payment 705 327 626 Total remuneration 2,433 1,705 1,635

Loss before income tax (Tables)

Loss before income tax (Tables)	12 Months Ended
	Jan. 31, 2018
Analysis of income and expense [abstract]
Loss before income tax	Year ended January 31, 2018 Year ended January 31, 2017 Year ended January 31, 2016 £000 £000 £000 Other operating income Income recognized in respect of BARDA 1,772 — — Income on derecognition of the Wellcome Trust financial liability 908 — — Income recognized in respect of the Wellcome Trust — 13 592 Grant income 13 56 645 Research and development credit 23 3 44 Other income 9 — — 2,725 72 1,281 Research and development Employee benefit expense 5,616 4,218 2,848 Share-based payment expense 327 374 356 Program related costs 21,810 13,605 13,093 Amortization of intangible assets 105 10 10 Other research and development costs 1,112 745 549 28,970 18,952 16,856 General and administration Employee benefit expense 2,870 2,480 1,365 Share-based payment expense 1,280 1,005 804 Foreign exchange loss 1,986 533 (501 ) Depreciation of property, plant and equipment 141 48 38 Loss on disposal of assets 42 — — Operating lease rentals 289 213 131 Other general and administration costs 5,322 3,998 2,934 Royalty expense 69 — — 11,999 8,277 4,771

Auditors_ remuneration (Tables)

Auditors’ remuneration (Tables)	12 Months Ended
	Jan. 31, 2018
Analysis of income and expense [abstract]
Detailed disclosure about auditors' remuneration	During the year the Group obtained the following services from the Group’s auditors at the cost detailed below: Year ended January 31, 2018 Year ended January 31, 2017 Year ended January 31, 2016 £000 £000 £000 Fees payable to the auditors and its associates for the audit of the Company and Consolidated Financial Statements 132 110 44 Fees payable to the auditors and its associates for other services: - Audit of the Company’s subsidiaries (2) 209 120 71 - Audit-related assurance services — 3 6 - Other assurance services (1) 118 163 158 - Tax advisory services 2 15 9 - Tax compliance services 21 47 11 Total fees payable 482 458 299 (1) For the year ended January 31, 2018, other assurance services includes assurance reporting on information included in information used for the Company's underwritten public offering completed on 18 September 2017. These amounts were recognized directly in share premium. For the year ended January 31, 2017, other assurance services includes assurance reporting on information included in the Company’s registration statement on Form F-3 that was originally filed with the U.S. Securities and Exchange Commission on May 12, 2016. (2) For the year ended January 31, 2018, fees payable for the Consolidated Financial Statements and fees payable for the Company's subsidiaries includes audit services relating to the initial audit and business combination accounting for Discuva Limited. These amounts will be non recurring fees.

Finance income and costs (Table

Finance income and costs (Tables)	12 Months Ended
	Jan. 31, 2018
Disclosure of finance income and costs [Abstract]
Schedule of finance income (costs)	Note Year ended January 31, 2018 Year ended January 31, 2017 Year ended January 31, 2016 £000 £000 £000 Finance income Derecognition of financial liabilities 18 3,085 — — Interest income on deposits 11 8 30 Finance income 3,096 8 30 Finance costs Unwinding of discount factor 18 (754 ) (862 ) (268 ) Re-measurement of financial liabilities on funding arrangements 18 (410 ) — (2,611 ) Finance costs (1,164 ) (862 ) (2,879 ) Net finance income / (costs) 1,932 (854 ) (2,849 )

Income tax (Tables)

Income tax (Tables)	12 Months Ended
	Jan. 31, 2018
Disclosure of income tax [Abstract]
Reconciliation of income tax charge	Year ended January 31, 2018 Year ended January 31, 2017 Year ended January 31, 2016 £000 £000 £000 Analysis of credit in the period Current tax : Current tax income 3,767 4,245 2,971 Adjustments in respect of prior years (5 ) (9 ) 87 Total current tax 3,762 4,236 3,058 Total deferred tax — 100 — Total tax 3,762 4,336 3,058
Analysis of income tax charge	The difference between the total tax shown above and the amount calculated by applying the standard rate of UK corporation tax to the loss before tax is as follows: Year ended January 31, 2018 Year ended January 31, 2017 Year ended January 31, 2016 £000 £000 £000 Loss before tax (10,893 ) (25,707 ) (23,195 ) Loss multiplied by the standard rate of corporation tax in the United Kingdom (Current tax) 19.17% (2017: 20%) (2,088 ) (5,141 ) (4,678 ) Change in unrecognized tax losses 751 2,169 2,691 Non-deductible expenses 402 331 184 Tax relief for qualifying research and development expenditure (3,043 ) (1,699 ) (1,170 ) Prior year adjustments 5 9 (87 ) Share options exercised (40 ) (84 ) (45 ) Overseas profits taxed at different rates 251 179 47 Change in rate of deferred tax — (100 ) — Total tax (3,762 ) (4,336 ) (3,058 )

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Jan. 31, 2018
Disclosure of detailed information about intangible assets [abstract]
Disclosure of reconciliation of changes in goodwill	Discuva Limited £000 MuOx Limited £000 Total £000 Cost At February 1, 2017 — 664 664 Additions 1,814 — 1,814 At January 31, 2018 1,814 664 2,478 Accumulated impairment At February 1, 2017 — — — At January 31, 2018 — — — Net book amount At February 1, 2017 — 664 664 At January 31, 2018 1,814 664 2,478 12. Goodwill (continued) Discuva Limited £000 MuOx Limited £000 Total £000 Cost At February 1, 2016 — 664 664 At January 31, 2017 — 664 664 Accumulated impairment At February 1, 2016 — — — At January 31, 2017 — — — Net book amount At February 1, 2016 — 664 664 At January 31, 2017 — 664 664

Intangible assets (Tables)

Intangible assets (Tables)	12 Months Ended
	Jan. 31, 2018
Disclosure of detailed information about intangible assets [abstract]
Disclosure of reconciliation of changes in intangible assets	Iminosugar Utrophin Bacterial genetics-based platform acquired Option over non-financial assets Other Total Cost At February 1, 2017 1,380 3,321 — — 204 4,905 Acquisition of subsidiary (Note 27) — — 10,670 668 — 11,338 Additions — — — — 119 119 Disposals (1,380 ) — — — (58 ) (1,438 ) At January 31, 2018 — 3,321 10,670 668 265 — 14,924 Accumulated amortization At February 1, 2017 (1,380 ) — — — (55 ) — (1,435 ) Charge for the year — — (79 ) (4 ) (23 ) (106 ) Disposals 1,380 — — — 22 1,402 At January 31, 2018 — — (79 ) (4 ) (56 ) — (139 ) Net book amount At February 1, 2017 — 3,321 — — 149 3,470 At January 31, 2018 — 3,321 10,591 664 209 14,785 Iminosugar Utrophin Bacterial genetics-based platform acquired Option over non-financial assets Other Total Cost At February 1, 2016 1,380 3,321 — — 197 4,898 Additions — — — — 7 7 At January 31, 2017 1,380 3,321 — — 204 4,905 Accumulated amortization At February 1, 2016 (1,380 ) — — — (45 ) (1,425 ) Charge for the year — — — — (10 ) (10 ) At January 31, 2017 (1,380 ) — — — (55 ) (1,435 ) Net book amount At February 1, 2016 — 3,321 — — 152 3,473 At January 31, 2017 — 3,321 — — 149 3,470

Property, plant and equipment (

Property, plant and equipment (Tables)	12 Months Ended
	Jan. 31, 2018
Disclosure of detailed information about property, plant and equipment [abstract]
Disclosure of detailed information about property, plant and equipment	Property, plant and equipment Cost Leasehold improvements £000 Laboratory equipment £000 Office and IT equipment £000 Total £000 At February 1, 2017 9 19 284 312 Acquisition of subsidiary (Note 27) — 280 49 329 Additions 340 — 173 513 Disposals (9 ) (14 ) (23 ) Revaluation — — (6 ) (6 ) At January 31, 2018 340 299 486 1,125 Accumulated depreciation At February 1, 2017 (9 ) (17 ) (170 ) (196 ) Charge for the year (31 ) (19 ) (90 ) (140 ) Disposals 9 — 10 19 Revaluation — — 1 1 At January 31, 2018 (31 ) (36 ) (249 ) (316 ) Net book value At February 1, 2017 — 2 114 116 At January 31, 2018 309 263 237 809 Cost Leasehold improvements £000 Laboratory equipment £000 Office and IT equipment £000 Total £000 At February 1, 2016 9 137 228 374 Additions — — 81 81 Disposals — (118 ) (25 ) (143 ) At January 31, 2017 9 19 284 312 Accumulated depreciation At February 1, 2016 (7 ) (135 ) (149 ) (291 ) Charge for the year (2 ) — (46 ) (48 ) Disposals — 118 25 143 At January 31, 2017 (9 ) (17 ) (170 ) (196 ) Net book value At February 1, 2016 2 2 79 83 At January 31, 2017 — 2 114 116

Prepayments and other receiva45

Prepayments and other receivables (Tables)	12 Months Ended
	Jan. 31, 2018
Prepayments and other receivables [Abstract]
Prepayments and other receivables	January 31, 2018 January 31, 2017 £000 £000 Other receivables 3,600 342 Prepayments 6,498 685 Accrued income 1,036 — 11,134 1,027

Trade and other payables (Table

Trade and other payables (Tables)	12 Months Ended
	Jan. 31, 2018
Trade and other payables [abstract]
Components of trade and other payables	January 31, 2018 January 31, 2017 £000 £000 Trade payables 4,414 906 Other taxes and social security 164 94 Accruals 4,078 2,884 Other creditors 276 100 8,932 3,984

Deferred revenue (Tables)

Deferred revenue (Tables)	12 Months Ended
	Jan. 31, 2018
Accruals and deferred income [abstract]
Detailed disclosure about deferred income	January 31, 2018 January 31, 2017 £000 £000 Due within one year 10,012 6,912 Due more than one year 18,033 23,615

Financial liabilities on fund48

Financial liabilities on funding arrangements (Tables)	12 Months Ended
	Jan. 31, 2018
Financial liabilities at amortised cost [Abstract]
Reconciliation of financial liabilities on funding arrangements	The financial liabilities were re-measured in the year ended January 31, 2018 following positive interim 24-week data in the Phase 2 clinical trial of ezutormid for DMD which increased the probability of success. 18. Financial liabilities on funding arrangements (continued) January 31, 2018 January 31, 2017 £000 £000 At February 1 5,919 5,034 Unwinding of discount factor 754 862 Derecognition of financial liabilities – Finance income (3,085 ) — Re-measurement of financial liabilities on funding arrangements 410 — Net finance income / (costs) on funding arrangements accounting for as financial liabilities (1,921 ) 862 Derecognition of financial liabilities – Other operating income (908 ) — Cash received from funding arrangements accounted for as financial liabilities — 23 At January 31 3,090 5,919
Sensitivity analysis of financial liabilities on funding arrangements	Changing one or more assumptions to reasonable possible alternative assumptions would not materially change the fair value. The table below describes the value of the liability as at January 31, 2018 of £ 3.1 million compared to what the total value would be following the presented variations to the underlying assumptions in the model: January 31, 2018 £000 Estimated financial liabilities on funding arrangements 3,090 1% lower discount rate 3,354 1% higher discount rate 2,850 10% lower revenue assumptions 2,818 10% higher revenue assumptions 3,362 10% lower probability of success 1,005 10% higher probability of success 5,123

Financial instruments (Tables)

Financial instruments (Tables)	12 Months Ended
	Jan. 31, 2018
Financial Instruments [Abstract]
Disclosure of detailed information about financial instruments	January 31, 2018 January 31, 2017 Note £000 £000 Loans and receivables Other receivables (1) 15 3,600 342 Cash and cash equivalents 20,102 28,062 23,702 28,404 Financial liabilities measured at amortized cost Trade and other payables 16 8,932 3,984 Financial liabilities on funding arrangements 18 3,090 5,919 12,022 9,903 (1) Prepayments and accrued income have been excluded as they are not considered to be a financial instrument.
Disclosure of cash deposits	January 31, 2018 January 31, 2017 £000 £000 Cash at bank and in hand Pounds Sterling 5,535 8,969 US Dollar 14,567 19,093 20,102 28,062 The Group’s cash and short-term deposits were as follows: January 31, 2018 January 31, 2017 £000 £000 On current account 20,102 28,062 20,102 28,062
Sensitivity analysis for types of market risk	The Group’s exposure to interest rate risk is illustrated with regard to the opening and closing cash balances and the difference that an increase or decrease of 1% in interest rates would have made based on the average cash balance of £ 24,082,000 ( 2017 : £ 22,183,000 ) in the year: Year ended January 31, 2018 (1)% Actual 1% Interest rate — 0.02 1.02 Interest received (£000) — 5 246 Year ended January 31, 2017 (1)% Actual 1% Interest rate — 0.04 1.04 Interest received (£000) — 8 230

Provisions for other liabilit50

Provisions for other liabilities and charges and contingent liabilities (Tables)	12 Months Ended
	Jan. 31, 2018
Disclosure of contingent liabilities [abstract]
Provisions for other liabilities and charges and contingent liabilities	Assumed contingent liabilities £000s Dilapidations £000s Royalties £000s Total At February 1, 2017 — 85 — 85 Additions 1,466 150 25 1,641 Used during the year — (85 ) — (85 ) At January 31, 2018 1,466 150 25 1,641 Assumed contingent liabilities £000s Dilapidations £000s Royalties £000s Total At February 1, 2016 — 73 — 73 Additions — 12 — 12 Used during the year — — — At January 31, 2017 — 85 — 85
Disclosure of contingent liabilities in business combination	The table below describes the value of the assumed contingent liabilities as at January 31, 2018 of £1.5 million compared to what the total value would be following the presented variations to the underlying assumptions in the model: January 31, 2018 £000 Estimated assumed contingent liabilities 1,466 1% lower discount rate 1,579 1% higher discount rate 1,368 10% lower probability of success 1,208 10% higher probability of success 1,705

Deferred tax liability (Tables)

Deferred tax liability (Tables)	12 Months Ended
	Jan. 31, 2018
Deferred tax assets and liabilities [abstract]
Detailed disclosure about deferred tax liability	The Group's deferred tax liability includes amounts recognized upon acquisition of MuOx Limited, which took place in the year ended January 31, 2014, and amounts recognized upon acquisition of Discuva Limited, which took place in the year ended January 31, 2018. January 31, 2018 January 31, 2017 £000 £000 Amounts falling due after more than one year At February 1 565 664 Acquisition of subsidiary (Note 27) 1,814 — Credited to the income statement — (99 ) At January 31 2,379 565

Share capital (Tables)

Share capital (Tables)	12 Months Ended
	Jan. 31, 2018
Disclosure of share capital, reserves and other equity interest [Abstract]
Disclosure of share capital	January 31, 2018 January 31, 2017 £000 £000 Allotted, called up and fully paid 73,563,624 (2017: 61,841,566) Ordinary shares of 1p each 736 618 736 618 Changes to the number of Ordinary Shares in issue have been as follows: Number of Shares Total Nominal Value £000 Total Share Premium £000 Total Consideration £000 At February 1, 2016 61,290,740 613 46,035 46,648 New share capital issued from exercise of warrants 177,045 2 105 107 Share options exercised 373,781 3 280 283 At January 31, 2017 61,841,566 618 46,420 47,038 At February 1, 2017 61,841,566 618 46,420 47,038 New share capital issued (net of transaction costs) 8,389,250 84 13,419 13,503 Issue of Ordinary Shares as consideration for a business combination (1) 2,934,272 30 — 30 New share capital issued from exercise of warrants 50,000 1 9 10 Share options exercised 348,536 3 389 392 At January 31, 2018 73,563,624 736 60,237 60,973 (1) The difference between the nominal value of the share capital acquired in Discuva Limited and fair value of shares issued in the business combination using the acquisition method of accounting was recognized as part of the Group's merger reserve arising as a result of certain requirements in the United Kingdom.
Reconciliation of share capital and share premiums	Changes to the number of Ordinary Shares in issue have been as follows: Number of Shares Total Nominal Value £000 Total Share Premium £000 Total Consideration £000 At February 1, 2016 61,290,740 613 46,035 46,648 New share capital issued from exercise of warrants 177,045 2 105 107 Share options exercised 373,781 3 280 283 At January 31, 2017 61,841,566 618 46,420 47,038 At February 1, 2017 61,841,566 618 46,420 47,038 New share capital issued (net of transaction costs) 8,389,250 84 13,419 13,503 Issue of Ordinary Shares as consideration for a business combination (1) 2,934,272 30 — 30 New share capital issued from exercise of warrants 50,000 1 9 10 Share options exercised 348,536 3 389 392 At January 31, 2018 73,563,624 736 60,237 60,973 (1) The difference between the nominal value of the share capital acquired in Discuva Limited and fair value of shares issued in the business combination using the acquisition method of accounting was recognized as part of the Group's merger reserve arising as a result of certain requirements in the United Kingdom.
Detailed disclosure about share capital, options exercised	During the year to January 31, 2018 , the following exercises of share options took place: Date Number of options exercised April 10, 2017 16,667 June 27, 2017 19,425 September 28, 2017 32,500 September 29, 2017 94,425 October 2, 2017 97,199 October 4, 2017 88,320 348,536

Share option scheme and Restr53

Share option scheme and Restricted Stock Units (Tables)	12 Months Ended
	Jan. 31, 2018
Disclosure of share-based payment arrangements [Abstract]
Disclosure of number and weighted average remaining contractual life of outstanding share options	At January 31, 2018 , the outstanding Restricted Stock Units (‘RSUs’) in the form of nominal-cost options, which have been granted to Non-Executive Directors, are shown below: Date of grant Exercise price (£) Number of shares Date from which exercisable Expiry date July 18, 2017 0.01 136,991 July 18, 2018 December 31, 2018 October 24, 2017 0.01 138,886 October 24, 2018 December 31, 2018 275,877 At January 31, 2018 , the outstanding share options, which include the share options granted to Directors, are shown below: Date of grant Exercise price (£) Number of shares Date from which exercisable Expiry date Approved EMI scheme April 7, 2011 0.65 5,873 April 8, 2014 April 7, 2021 May 10, 2012 0.60 150,046 May 10, 2014 May 10, 2022 December 24, 2012 0.85 21,500 December 24, 2015 December 24, 2022 January 31, 2013 0.20 72,973 July 31, 2013 January 31, 2023 July 15, 2014 1.26 249,621 July 15, 2016 July 15, 2024 January 21, 2015 1.23 25,000 January 21, 2017 January 21, 2025 June 23, 2016 1.05 560,343 June 23, 2017 June 23, 2026 1,085,356 23. Share option scheme and Restricted Stock Units (continued) Date of grant Exercise price (£) Number of shares Date from which exercisable Expiry date Unapproved scheme April 7, 2011 0.65 13,981 April 8, 2014 April 8, 2021 December 18, 2013 0.20 76,364 June 19, 2013 June 19, 2023 June 23, 2014 1.48 400,000 June 23, 2015 June 23, 2024 July 15, 2014 1.26 847,500 July 15, 2016 July 15, 2024 July 15, 2014 0.80 100,000 May 30, 2015 May 30, 2023 January 21, 2015 1.23 75,000 January 21, 2017 January 21, 2025 June 16, 2015 1.43 2,252,333 June 16, 2017 June 16, 2025 October 15, 2015 1.31 50,000 October 15, 2017 October 15, 2025 June 23, 2016 0.01 110,576 July 21, 2016 June 23, 2026 June 23, 2016 1.05 250,000 June 23, 2019 June 23, 2026 June 23, 2016 1.05 363,092 June 23, 2017 June 23, 2026 April 11, 2017 1.85 150,436 April 11, 2018 April 11, 2027 April 11, 2017 1.85 324,324 April 11, 2020 April 11, 2027 April 11, 2017 1.85 762,764 June 23, 2019 April 11, 2027 June 27, 2017 1.80 34,711 June 27, 2017 June 27, 2027 July 18, 2017 1.83 533,629 June 18, 2018 June 18, 2027 July 18, 2017 1.83 367,924 July 18, 2020 July 18, 2027 October 24, 2017 1.80 481,975 October 24, 2018 October 24, 2027 October 24, 2017 1.80 297,271 October 24, 2020 October 24, 2027 7,491,880 8,577,236
Additional information about share-based payment arrangements	The movement in the number of share options is set out below: Weighted average exercise price £ Year ended January 31, 2018 Weighted average exercise price £ Year ended January 31, 2017 Outstanding at February 1, 1.17 7,383,401 1.29 7,006,306 Granted during the year 1.83 2,972,903 0.98 1,667,576 Lapsed during the year 0.99 (1,430,532 ) 1.90 (916,700 ) Exercised during the year 1.13 (348,536 ) 0.76 (373,781 ) Number of outstanding options at January 31, 1.43 8,577,236 1.17 7,383,401 The movement in the number of RSUs is set out below: Weighted Year ended January 31, 2018 Weighted Year ended January 31, 2017 Outstanding at February 1, — — — — Granted during the year 0.01 275,877 — — Number of outstanding RSUs at January 31, 0.01 275,877 — —
Disclosure of number and weighted average exercise prices of share options	The fair value per share option award granted and the assumptions used in the calculations are as follows: Date of grant Type of award Number of shares Exercise price (£) Share price at grant date (£) Fair value per option (£) Award life (years) Risk free rate April 07, 2011 EMI 5,873 0.65 0.65 0.47 5.00 2.70 % April 07, 2011 Unapproved 13,981 0.65 0.65 0.47 5.00 2.70 % May 10, 2012 EMI 150,046 0.60 0.52 0.24 5.00 1.00 % December 24, 2012 EMI 21,500 0.85 0.85 0.59 5.00 0.90 % January 31, 2013 EMI 72,973 0.20 0.94 0.74 5.00 1.00 % December 18, 2013 Unapproved 76,364 0.20 1.85 1.65 5.00 1.00 % June 23, 2014 Unapproved 400,000 1.48 1.50 0.92 3.80 1.30 % July 15, 2014 EMI 249,621 1.26 1.26 0.65 3.00 1.30 % July 15, 2014 Unapproved 847,500 1.26 1.26 0.65 3.00 1.30 % July 15, 2014 Unapproved 100,000 0.80 0.81 0.65 1.90 0.50 % January 21, 2015 EMI 25,000 1.23 1.22 0.64 3.00 0.60 % January 21, 2015 Unapproved 75,000 1.23 1.22 0.64 3.00 0.60 % June 15, 2015 Unapproved 2,252,333 1.43 1.44 0.65 3.00 0.91 % October 15, 2015 Unapproved 50,000 1.31 1.36 0.57 3.00 0.70 % June 23, 2016 EMI 560,343 1.05 1.05 0.25 3.00 0.30 % June 23, 2016 Unapproved 110,576 0.01 1.05 1.04 0.50 0.30 % June 23, 2016 Unapproved 250,000 1.05 1.05 0.24 3.00 0.30 % June 23, 2016 Unapproved 363,092 1.05 1.05 0.25 3.00 0.30 % April 11, 2017 Unapproved 150,436 1.85 1.85 0.68 3.00 0.07 % April 11, 2017 Unapproved 324,324 1.85 1.85 0.72 3.00 0.13 % April 11, 2017 Unapproved 762,764 1.85 1.85 0.76 2.20 0.07 % June 27, 2017 Unapproved 34,711 1.80 1.78 0.64 3.00 0.23 % July 18, 2017 Unapproved 533,629 1.83 1.83 0.66 3.00 0.26 % July 18, 2017 Unapproved 367,924 1.83 1.83 0.74 3.00 0.31 % October 24, 2017 Unapproved 481,975 1.80 1.70 0.57 3.00 0.46 % October 24, 2017 Unapproved 297,271 1.80 1.70 0.66 3.00 0.55 % 8,577,236 The fair value per RSU's award granted and the assumptions used in the calculations are as follows: Date of grant Number of shares Exercise price (£) Share price at grant date (£) Fair value per option (£) Award life (years) Risk free rate July 18, 2017 136,991 0.01 1.83 1.82 1.00 0.24 % October 24, 2017 138,886 0.01 1.70 1.69 1.00 0.40 % 275,877

Leasing and other commitments (

Leasing and other commitments (Tables)	12 Months Ended
	Jan. 31, 2018
Leases1 [Abstract]
Commitments under non-cancelable operating leases	The Group’s total commitments under non-cancelable operating leases are as follows: Land & Buildings January 31, 2018 January 31, 2017 £000 £000 Leases which expire Not later than one year 337 88 Later than one year and not later than five years 1,143 122 1,480 210

Business combinations (Tables)

Business combinations (Tables)	12 Months Ended
	Jan. 31, 2018
Disclosure of detailed information about business combination [abstract]
Detailed disclosure of total consideration paid	The consideration paid for Discuva and the identifiable assets acquired and liabilities assumed are as follows: £000 Consideration Cash 6,091 2,934,272 new Summit Therapeutics plc Ordinary Shares issued 5,000 Total consideration 11,091
Schedule of Assets Acquired and Liabilities Assumed	Book value £000 Fair value adjustment £000 Fair value £000 Recognized amounts of identifiable assets acquired and liabilities assumed Cash and cash equivalents 1,316 — 1,316 Property, plant and equipment 329 — 329 Intangible assets - option over non-financial assets 668 — 668 Intangible assets - bacterial genetics-based platform — 10,670 10,670 Trade and other receivables 1,129 — 1,129 Trade and other payables (1,555 ) — (1,555 ) Assumed contingent liabilities — (1,466 ) (1,466 ) Deferred tax liabilities — (1,814 ) (1,814 ) Book and fair value of identifiable net assets 1,887 7,390 9,277 Goodwill — 1,814 1,814 Total consideration 1,887 9,204 11,091

Basis of accounting - Narrative

Basis of accounting - Narrative (Details)	12 Months Ended
	Jan. 31, 2018year
Patent
Disclosure of detailed information about property, plant and equipment [line items]
Intangible asset, useful life	20
Top of range | Laboratory equipment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment useful life	10
Top of range | Office equipment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment useful life	5
Bottom of range | Laboratory equipment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment useful life	3
Bottom of range | Office equipment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment useful life	3

Changes to accounting policie57

Changes to accounting policies (Details) - GBP (£)	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Disclosure of initial application of standards or interpretations [line items]
Licensing agreements	£ 25,109,000	£ 2,304,000	£ 0
Research collaboration agreement	310,000	0	£ 0
Current liabilities	18,944,000	10,896,000
Non-current liabilities	25,143,000	30,184,000
Increase (decrease) due to application of IFRS 15
Disclosure of initial application of standards or interpretations [line items]
Licensing agreements	13,059,000
Research collaboration agreement	0
Current liabilities	3,800,000	0
Non-current liabilities	£ 9,200,000	£ 0

Segmental reporting - Narrative

Segmental reporting - Narrative (Details)	Jan. 31, 2018entiysubsidiarysegment
Disclosure of operating segments [abstract]
Number of legal entities	11
Number of trading entities	4
Number of subsidiaries | subsidiary	10
Number of reportable segments | segment	1

Revenue - Analysis of revenue b

Revenue - Analysis of revenue by category (Details) - GBP (£) £ in Thousands	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Revenue [abstract]
Licensing agreements	£ 25,109	£ 2,304	£ 0
Research collaboration agreement	310	0	0
Revenue	£ 25,419	£ 2,304	£ 0

Revenue - Analysis of revenue60

Revenue - Analysis of revenue by geography (Details) - GBP (£) £ in Thousands	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	£ 25,419	£ 2,304	£ 0
United States
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	25,067	2,304	0
Latin America
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	42	0	0
Europe
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	£ 310	£ 0	£ 0

Directors and employees - Numbe

Directors and employees - Number of employees (Details) - employee	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Disclosure of operating segments [line items]
Number of employees	60	44	37
Technical, research and development
Disclosure of operating segments [line items]
Number of employees	34	23	19
Corporate and administration
Disclosure of operating segments [line items]
Number of employees	26	21	18

Directors and employees - Emplo

Directors and employees - Employee compensation (Details) - GBP (£) £ in Thousands	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Disclosure Directors And Employees [Abstract]
Wages and salaries	£ 7,493	£ 5,932	£ 3,876
Social security costs	643	434	247
Other pension costs	350	332	90
Share-based payment	1,607	1,379	1,160
Employee benefits expense	£ 10,093	£ 8,077	£ 5,373

Directors and employees - Manag

Directors and employees - Management compensation (Details) - GBP (£) £ in Thousands	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Short-term employee benefits
Wages and salaries	£ 1,520	£ 1,252	£ 934
Social security costs	162	98	58
Short-term employee benefits expense	1,682	1,350	992
Post-employment benefits
Amounts paid in lieu of employer pension contributions	32	17	17
Other pension costs	14	11	0
Key management personnel compensation, other long-term employee benefits	46	28	17
Share-based payment	705	327	626
Total remuneration	£ 2,433	£ 1,705	£ 1,635

Loss before income tax - Loss b

Loss before income tax - Loss before income tax (Details) - GBP (£)	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Other operating income
Income recognized in respect of BARDA	£ 1,772,000	£ 0	£ 0
Income on derecognition of the Wellcome Trust financial liability	908,000	0	0
Income recognized in respect of the Wellcome Trust	0	13,000	592,000
Grant income	13,000	56,000	645,000
Research and development credit	23,000	3,000	44,000
Other income	9,000	0	0
Other operating income	2,725,000	72,000	1,281,000
Research and development
Employee benefit expense	10,093,000	8,077,000	5,373,000
Share-based payment expense	1,607,000	1,379,000	1,160,000
Amortization of intangible assets	106,000	10,000	10,000
Research and development expense	28,970,000	18,952,000	16,856,000
General and administration
Other operating income (expense)	11,999,000	8,277,000	4,771,000
Research and development
Research and development
Employee benefit expense	5,616,000	4,218,000	2,848,000
Share-based payment expense	327,000	374,000	356,000
Program related costs	21,810,000	13,605,000	13,093,000
Amortization of intangible assets	105,000	10,000	10,000
Other research and development costs	1,112,000	745,000	549,000
Research and development expense	28,970,000	18,952,000	16,856,000
General and administration
Research and development
Employee benefit expense	2,870,000	2,480,000	1,365,000
Share-based payment expense	1,280,000	1,005,000	804,000
General and administration
Foreign exchange loss	1,986,000	533,000	(501,000)
Depreciation of property, plant and equipment	141,000	48,000	38,000
Loss on disposal of assets	42,000	0	0
Operating lease rentals	289,000	213,000	131,000
Other general and administration costs	5,322,000	3,998,000	2,934,000
Royalty expense	69,000	0	0
Other operating income (expense)	£ 11,999,000	£ 8,277,000	£ 4,771,000

Loss before income tax - Narrat

Loss before income tax - Narrative (Details)	Sep. 08, 2017GBP (£)trialphase	Jan. 31, 2018GBP (£)	Jan. 31, 2017GBP (£)	Jan. 31, 2016GBP (£)
Disclosure of analysis of other comprehensive income by item [line items]
Income recognized in respect of BARDA		£ 1,772,000	£ 0	£ 0
Income on derecognition of the Wellcome Trust financial liability		£ 908,000	£ 0	£ 0
BARDA
Disclosure of analysis of other comprehensive income by item [line items]
Cost sharing arrangement, initial portion	£ 32,000,000
Number of clinical trials | trial	2
Number of phases included in contract | phase	3
Cost sharing arrangement, additional portion	£ 30,000,000
Top of range | BARDA
Disclosure of analysis of other comprehensive income by item [line items]
Cost sharing arrangement, contractual amount	£ 62,000,000

Auditors_ remuneration (Details

Auditors’ remuneration (Details) - GBP (£) £ in Thousands	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Auditor Renumeration [Line Items]
Auditor's remuneration for audit services	£ 132	£ 110	£ 44
Audit-related assurance services	0	3	6
Other assurance services	118	163	158
Tax advisory services	2	15	9
Tax compliance services	21	47	11
Total fees payable	482	458	299
Subsidiaries
Auditor Renumeration [Line Items]
Auditor's remuneration for audit services	£ 209	£ 120	£ 71

Finance income and costs (Detai

Finance income and costs (Details) - GBP (£) £ in Thousands	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Finance income
Derecognition of financial liabilities	£ 3,085	£ 0	£ 0
Interest income on deposits	11	8	30
Finance income	3,096	8	30
Finance costs
Unwinding of discount factor	(754)	(862)	(268)
Re-measurement of financial liabilities on funding arrangements	(410)	0	(2,611)
Finance costs	(1,164)	(862)	(2,879)
Net finance income / (costs)	£ 1,932	£ (854)	£ (2,849)

Income tax - Tax (Details)

Income tax - Tax (Details) - GBP (£) £ in Thousands	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Disclosure of income tax [Abstract]
Current tax income	£ 3,767	£ 4,245	£ 2,971
Adjustments in respect of prior years	(5)	(9)	87
Total current tax	3,762	4,236	3,058
Total deferred tax	0	100	0
Total tax	£ 3,762	£ 4,336	£ 3,058

Income tax - Tax reconciliation

Income tax - Tax reconciliation (Details) - GBP (£) £ in Thousands	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Disclosure of income tax [Abstract]
Loss before tax	£ (10,893)	£ (25,707)	£ (23,195)
Loss multiplied by the standard rate of corporation tax in the United Kingdom (Current tax) 19.17% (2017: 20%)	(2,088)	(5,141)	(4,678)
Change in unrecognized tax losses	751	2,169	2,691
Non-deductible expenses	402	331	184
Tax relief for qualifying research and development expenditure	(3,043)	(1,699)	(1,170)
Prior year adjustments	5	9	(87)
Share options exercised	(40)	(84)	(45)
Overseas profits taxed at different rates	251	179	47
Change in rate of deferred tax	0	(100)	0
Total tax	£ (3,762)	£ (4,336)	£ (3,058)
Standard rate of corporation tax	19.17%	20.00%

Income tax - Narrative (Details

Income tax - Narrative (Details) - GBP (£)	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Disclosure of income tax [Line Items]
Current tax liabilities	£ 0	£ 0	£ 0
Operating loss carryforward, maximum annual limit	£ 5,000,000
Finance (No 2) Act 2015
Disclosure of income tax [Line Items]
Corporate income tax rate	20.00%
Finance (No 2) Act 2015 | April 1, 2017
Disclosure of income tax [Line Items]
Corporate income tax rate	19.00%
Finance (No 2) Act 2015 | April 1, 2020
Disclosure of income tax [Line Items]
Corporate income tax rate	18.00%
Finance Act 2016 | April 1, 2020
Disclosure of income tax [Line Items]
Corporate income tax rate	17.00%

Loss per share (Details)

Loss per share (Details) - GBP (£) £ in Thousands	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Earnings per share [abstract]
Loss for the year	£ 7,131	£ 21,371	£ 20,137
Weighted average number of ordinary shares outstanding	65,434,294	61,548,557	59,102,292
Potentially dilutive shares	8,577,236	7,383,401	7,006,306

Goodwill (Details)

Goodwill (Details) - GBP (£) £ in Thousands	Dec. 23, 2017	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill		£ 2,478	£ 664
Goodwill
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill		2,478	664	£ 664
Cost | Goodwill
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill		2,478	664	664
Additions		1,814
Accumulated impairment | Goodwill
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill		0	0	0
Discuva Limited
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill	£ 1,814
Percentage of voting equity interests acquired	100.00%
Discuva Limited | Goodwill
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill		1,814	0	0
Discuva Limited | Cost | Goodwill
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill		1,814	0	0
Additions	£ 1,800	1,814
Discuva Limited | Accumulated impairment | Goodwill
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill		0	0	0
MuOx Limited | Goodwill
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill		664	664	664
MuOx Limited | Cost | Goodwill
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill		664	664	664
Additions		0
MuOx Limited | Accumulated impairment | Goodwill
Disclosure of reconciliation of changes in goodwill [line items]
Goodwill		£ 0	£ 0	£ 0

Intangible assets - Disclosure

Intangible assets - Disclosure of reconciliation of changes in intangible assets (Details) - GBP (£) £ in Thousands	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets, beginning balance	£ 3,470	£ 3,473
Accumulated amortization	(106)	(10)	£ (10)
Intangible assets, ending balance	14,785	3,470	3,473
Cost
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets, beginning balance	4,905	4,898
Acquisitions of subsidiary	11,338
Additions	119	7
Disposals	(1,438)
Intangible assets, ending balance	14,924	4,905	4,898
Accumulated depreciation
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets, beginning balance	(1,435)	(1,425)
Accumulated amortization	(106)	(10)
Disposals	1,402
Intangible assets, ending balance	(139)	(1,435)	(1,425)
Other patents and licenses
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets, beginning balance	149	152
Intangible assets, ending balance	209	149	152
Other patents and licenses | Cost
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets, beginning balance	204	197
Acquisitions of subsidiary	0
Additions	119	7
Disposals	(58)
Intangible assets, ending balance	265	204	197
Other patents and licenses | Accumulated depreciation
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets, beginning balance	(55)	(45)
Accumulated amortization	(23)	(10)
Disposals	22
Intangible assets, ending balance	(56)	(55)	(45)
Iminosugar
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets, beginning balance	0	0
Intangible assets, ending balance	0	0	0
Iminosugar | Cost
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets, beginning balance	1,380	1,380
Acquisitions of subsidiary	0
Additions	0	0
Disposals	(1,380)
Intangible assets, ending balance	0	1,380	1,380
Iminosugar | Accumulated depreciation
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets, beginning balance	(1,380)	(1,380)
Accumulated amortization	0	0
Disposals	1,380
Intangible assets, ending balance	0	(1,380)	(1,380)
Utrophin
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets, beginning balance	3,321	3,321
Intangible assets, ending balance	3,321	3,321	3,321
Utrophin | Cost
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets, beginning balance	3,321	3,321
Acquisitions of subsidiary	0
Additions	0	0
Disposals	0
Intangible assets, ending balance	3,321	3,321	3,321
Utrophin | Accumulated depreciation
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets, beginning balance	0	0
Accumulated amortization	0	0
Disposals	0
Intangible assets, ending balance	0	0	0
Bacterial genetics-based platform
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets, beginning balance	0	0
Intangible assets, ending balance		0	0
Bacterial genetics-based platform | Cost
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets, beginning balance	0	0
Acquisitions of subsidiary	10,670
Additions	0	0
Disposals	0
Intangible assets, ending balance	10,670	0	0
Bacterial genetics-based platform | Accumulated depreciation
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets, beginning balance	0	0
Accumulated amortization	(79)	0
Disposals	0
Intangible assets, ending balance	(79)	0	0
Discuva Limited | Option over non-financial assets
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets, beginning balance	0	0
Intangible assets, ending balance	664	0	0
Discuva Limited | Option over non-financial assets | Cost
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets, beginning balance	0	0
Acquisitions of subsidiary	668
Additions	0	0
Disposals	0
Intangible assets, ending balance	668	0	0
Discuva Limited | Option over non-financial assets | Accumulated depreciation
Reconciliation of changes in intangible assets other than goodwill [abstract]
Intangible assets, beginning balance	0	0
Accumulated amortization	(4)	0
Disposals	0
Intangible assets, ending balance	£ (4)	£ 0	£ 0

Intangible assets - Narrative (

Intangible assets - Narrative (Details) - GBP (£) £ in Thousands	Dec. 23, 2017	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Disclosure of detailed information about intangible assets [line items]
Intangible assets		£ 14,785	£ 3,470	£ 3,473
Cost
Disclosure of detailed information about intangible assets [line items]
Intangible assets		14,924	4,905	4,898
Bacterial genetics-based platform
Disclosure of detailed information about intangible assets [line items]
Intangible assets	£ 10,591		0	0
Bacterial genetics-based platform | Cost
Disclosure of detailed information about intangible assets [line items]
Intangible assets		10,670	0	0
Utrophin
Disclosure of detailed information about intangible assets [line items]
Intangible assets		3,321	3,321	3,321
Discount factor	18.00%
Utrophin | Cost
Disclosure of detailed information about intangible assets [line items]
Intangible assets		3,321	£ 3,321	£ 3,321
Goodwill | Cost
Disclosure of detailed information about intangible assets [line items]
Additions		1,814
Goodwill | Discuva Limited | Cost
Disclosure of detailed information about intangible assets [line items]
Additions	£ 1,800	£ 1,814

Property, plant and equipment75

Property, plant and equipment (Details) - GBP (£) £ in Thousands	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	£ (116)	£ (83)
Property, plant and equipment	(809)	(116)
Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(312)	(374)
Acquisition of subsidiary (Note 27)	329
Additions	513	81
Disposals	23	143
Revaluation	6
Property, plant and equipment	(1,125)	(312)
Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(196)	(291)
Charge for the year	(140)	(48)
Disposals	19	143
Revaluation	1
Property, plant and equipment	(316)	(196)
Leasehold improvements
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	0	(2)
Property, plant and equipment	(309)	0
Leasehold improvements | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(9)	(9)
Acquisition of subsidiary (Note 27)	0
Additions	340	0
Disposals	(9)	0
Revaluation	0
Property, plant and equipment	(340)	(9)
Leasehold improvements | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(9)	(7)
Charge for the year	(31)	(2)
Disposals	9	0
Revaluation	0
Property, plant and equipment	(31)	(9)
Laboratory equipment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(2)	(2)
Property, plant and equipment	(263)	(2)
Laboratory equipment | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(19)	(137)
Acquisition of subsidiary (Note 27)	280
Additions	0	0
Disposals		(118)
Revaluation	0
Property, plant and equipment	(299)	(19)
Laboratory equipment | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(17)	(135)
Charge for the year	(19)	0
Disposals	0	118
Revaluation	0
Property, plant and equipment	(36)	(17)
Office equipment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(114)	(79)
Property, plant and equipment	(237)	(114)
Office equipment | Cost
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(284)	(228)
Acquisition of subsidiary (Note 27)	49
Additions	173	81
Disposals	(14)	(25)
Revaluation	6
Property, plant and equipment	(486)	(284)
Office equipment | Accumulated depreciation
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment	(170)	(149)
Charge for the year	(90)	(46)
Disposals	10	25
Revaluation	1
Property, plant and equipment	£ (249)	£ (170)

Prepayments and other receiva76

Prepayments and other receivables (Details) - GBP (£) £ in Thousands	Jan. 31, 2018	Jan. 31, 2017
Prepayments and other receivables [Abstract]
Other receivables	£ 3,600	£ 342
Prepayments	6,498	685
Accrued income	1,036	0
Trade and other receivables	£ 11,134	£ 1,027

Trade and other payables (Detai

Trade and other payables (Details) - GBP (£) £ in Thousands	Jan. 31, 2018	Jan. 31, 2017
Trade and other payables [abstract]
Trade payables	£ 4,414	£ 906
Other taxes and social security	164	94
Accruals	4,078	2,884
Other creditors	276	100
Trade and other current payables	£ 8,932	£ 3,984

Deferred revenue - Detailed dis

Deferred revenue - Detailed disclosure about deferred income (Details) - GBP (£) £ in Thousands	Jan. 31, 2018	Jan. 31, 2017
Accruals and deferred income [abstract]
Due within one year	£ 10,012	£ 6,912
Due more than one year	£ 18,033	£ 23,615

Deferred revenue - Narrative (D

Deferred revenue - Narrative (Details) $ in Thousands, £ in Millions	Jan. 01, 2018	Dec. 21, 2017GBP (£)	Dec. 21, 2017USD ($)	Oct. 04, 2016GBP (£)	Oct. 04, 2016USD ($)
Sarepta Deferred Revenue Agreement
Disclosure of disaggregation of revenue from contracts with customers [line items]
Deferred income				£ 32.8	$ 40,000
Research and development costs percentage, entity responsibility	55.00%
Research and development costs percentage, third party responsibility	45.00%
Research and development costs, minimum percentage of budgeted amount	110.00%
Sarepta Deferred Revenue Agreement | PhaseOut DMD Trial
Disclosure of disaggregation of revenue from contracts with customers [line items]
Future milestone payments				£ 17.2	22,000
Sarepta Deferred Revenue Agreement | Specified Development Milestones | Ezutromid
Disclosure of disaggregation of revenue from contracts with customers [line items]
Future milestone payments					20,000
Sarepta Deferred Revenue Agreement | Specified Development Milestones | Utrophin Modulators
Disclosure of disaggregation of revenue from contracts with customers [line items]
Future milestone payments					65,000
Sarepta Deferred Revenue Agreement | Specified Regulatory Milestones | Ezutromid
Disclosure of disaggregation of revenue from contracts with customers [line items]
Future milestone payments					150,000
Sarepta Deferred Revenue Agreement | Specified Regulatory Milestones | Utrophin Modulators
Disclosure of disaggregation of revenue from contracts with customers [line items]
Future milestone payments					225,000
Sarepta Deferred Revenue Agreement | Specified Sales Milestones
Disclosure of disaggregation of revenue from contracts with customers [line items]
Future milestone payments					$ 330,000
Eurofarma Deferred Revenue Agreement
Disclosure of disaggregation of revenue from contracts with customers [line items]
Deferred income		£ 1.9	$ 2,500
Eurofarma Deferred Revenue Agreement | Specified Development Milestones
Disclosure of disaggregation of revenue from contracts with customers [line items]
Future milestone payments			3,750
Eurofarma Deferred Revenue Agreement | Other Milestones
Disclosure of disaggregation of revenue from contracts with customers [line items]
Future milestone payments			21,500
Future milestone payments, maximum cumulative net sales benchmark			100,000
Future milestone payments, cumulative net sales incremental benchmark			$ 100,000

Financial liabilities on fund80

Financial liabilities on funding arrangements - Narrative (Details) £ in Thousands, $ in Millions	12 Months Ended
	Jan. 31, 2018GBP (£)	Jan. 31, 2017GBP (£)	Jan. 31, 2016GBP (£)	Jan. 31, 2018USD ($)
Disclosure of financial liabilities [line items]
Derecognition of financial liabilities – Other operating income	£ 908	£ 0
Estimated financial liabilities on funding arrangements	3,090	5,919	£ 5,034
Derecognition of financial liabilities – Finance income	£ 3,085	£ 0	£ 0
Bottom of range
Disclosure of financial liabilities [line items]
Discount factors	16.00%			16.00%
Top of range
Disclosure of financial liabilities [line items]
Discount factors	18.00%			18.00%
Specified Regulatory Milestones
Disclosure of financial liabilities [line items]
Estimated financial liabilities on funding arrangements | $				$ 2.5

Financial liabilities on fund81

Financial liabilities on funding arrangements - Reconciliation of financial liabilities on funding arrangements - GBP (£) £ in Thousands	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Financial liabilities at amortised cost [Abstract]
At February 1	£ 5,919	£ 5,034
Unwinding of discount factor	754	862	£ 268
Derecognition of financial liabilities – Finance income	(3,085)	0	0
Re-measurement of financial liabilities on funding arrangements	410	0	2,611
Net finance income / (costs) on funding arrangements accounting for as financial liabilities	(1,921)	862
Derecognition of financial liabilities – Other operating income	(908)	0
Cash received from funding arrangements accounted for as financial liabilities	0	23	0
At January 31	£ 3,090	£ 5,919	£ 5,034

Financial liabilities on fund82

Financial liabilities on funding arrangements - Sensitivity analysis of financial liabilities on funding arrangements - GBP (£) £ in Thousands	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Financial liabilities at amortised cost [Abstract]
Estimated financial liabilities on funding arrangements	£ 3,090	£ 5,919	£ 5,034
1% lower discount rate	3,354
1% higher discount rate	2,850
10% lower revenue assumptions	2,818
10% higher revenue assumptions	3,362
10% lower probability of success	1,005
10% higher probability of success	£ 5,123

Financial instruments - Disclos

Financial instruments - Disclosure of detailed information about financial instruments (Details) - GBP (£) £ in Thousands	Jan. 31, 2018	Jan. 31, 2017
Financial liabilities measured at amortized cost
Disclosure of financial liabilities [line items]
Financial liabilities	£ 12,022	£ 9,903
Loans and receivables
Disclosure of financial assets [line items]
Financial assets	23,702	28,404
Trade and other payables | Financial liabilities measured at amortized cost
Disclosure of financial liabilities [line items]
Financial liabilities	8,932	3,984
Financial liabilities on funding arrangements | Financial liabilities measured at amortized cost
Disclosure of financial liabilities [line items]
Financial liabilities	3,090	5,919
Other receivables | Loans and receivables
Disclosure of financial assets [line items]
Financial assets	3,600	342
Cash and cash equivalents | Loans and receivables
Disclosure of financial assets [line items]
Financial assets	£ 20,102	£ 28,062

Financial instruments - Narrati

Financial instruments - Narrative (Details) - GBP (£)	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017
Disclosure of financial liabilities [line items]
Interest rate fee percentage	0.02%	0.04%
Average cash balance	£ 24,082,000	£ 22,183,000
Trade receivables	0
Financial liabilities on funding arrangements | Financial liabilities measured at fair value
Disclosure of financial liabilities [line items]
Financial liabilities	£ 4,700,000

Financial instruments - Foreign

Financial instruments - Foreign currency and interest rate risk (Details) - GBP (£) £ in Thousands	Jan. 31, 2018	Jan. 31, 2017
Foreign currency risk
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure	£ 20,102	£ 28,062
Interest rate risk
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure	20,102	28,062
Pounds Sterling | Foreign currency risk
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure	5,535	8,969
US Dollar | Foreign currency risk
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure	£ 14,567	£ 19,093

Financial instruments - Interes

Financial instruments - Interest rate sensitivity analysis (Details) - GBP (£) £ in Thousands	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2016
Disclosure of nature and extent of risks arising from financial instruments [line items]
Interest received	£ 11	£ 8	£ 30
Interest rate risk
Disclosure of nature and extent of risks arising from financial instruments [line items]
Interest rate, Actual	2.00%	4.00%
Interest received	£ 5	£ 8
Interest rate, 1% increase	102.00%	104.00%
Interest received, 1% increase	£ 246	£ 230

Provisions for other liabilit87

Provisions for other liabilities and charges and contingent liabilities - Disclosure of contingent liabilities (Details) - GBP (£) £ in Thousands	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017
Disclosure of other provisions [line items]
At February 1, 2017	£ 85	£ 73
Additions	1,641	12
Used during the year	(85)	0
At January 31, 2018	1,641	85
Assumed contingent liabilities
Disclosure of other provisions [line items]
At February 1, 2017	0	0
Additions	1,466	0
Used during the year	0	0
At January 31, 2018	1,466	0
Dilapidations
Disclosure of other provisions [line items]
At February 1, 2017	85	73
Additions	150	12
Used during the year	(85)
At January 31, 2018	150	85
Royalties
Disclosure of other provisions [line items]
At February 1, 2017	0	0
Additions	25	0
Used during the year	0	0
At January 31, 2018	£ 25	£ 0

Provisions for other liabilit88

Provisions for other liabilities and charges and contingent liabilities - Narrative (Details) - GBP (£) £ / shares in Units, £ in Thousands	Dec. 23, 2017	Jan. 31, 2018	Nov. 30, 2013
OUI Agreement
Disclosure of other provisions [line items]
Funding liability, initial period		£ 4,600
Funding liability, additional period		800
Funding liability		5,400
The School Of Pharmacy, University Of London
Disclosure of other provisions [line items]
Financial liabilities		1,000
Specified Regulatory Milestones | OUI Agreement
Disclosure of other provisions [line items]
Financial liabilities			£ 3,700
Discuva Limited
Disclosure of other provisions [line items]
Total consideration	£ 11,091
Cash transferred	6,091
Cash transferred, net of cash acquired	5,000
Equity interests of acquirer	£ 5,000
Shares issued, business combination, price per share (in pounds per share)	£ 1.704
Contingent liabilities, discount factor	13.00%
Contingent liabilities recognised as of acquisition date	£ 1,466	£ 1,466
Royalties
Disclosure of other provisions [line items]
Discount rate used in measurement of contingent liabilities		13.00%
Top of range | Specified Development Milestones | OUI Agreement
Disclosure of other provisions [line items]
Financial liabilities			£ 75

Provisions for other liabilit89

Provisions for other liabilities and charges and contingent liabilities - Disclosure of contingent liabilities in business combination (Details) - Discuva Limited - GBP (£) £ in Thousands	Jan. 31, 2018	Dec. 23, 2017
Disclosure of contingent liabilities [line items]
Estimated assumed contingent liabilities	£ 1,466	£ 1,466
1% lower discount rate	1,579
1% higher discount rate	1,368
10% lower probability of success	1,208
10% higher probability of success	£ 1,705

Deferred tax liability - Detail

Deferred tax liability - Detailed disclosure about deferred tax liability (Details) - GBP (£) £ in Thousands	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017
Deferred tax assets and liabilities [abstract]
At February 1	£ 565	£ 664
Acquisition of subsidiary (Note 27)	1,814	0
Credited to the income statement	0	99
At January 31	£ 2,379	£ 565

Deferred tax liability - Narrat

Deferred tax liability - Narrative (Details) - GBP (£) £ in Thousands	Jan. 31, 2018	Jan. 31, 2017
Deferred tax assets and liabilities [abstract]
Unrecognized deferred tax asset in relation to trading losses carried forward	£ 11,944	£ 10,882
Unrecognized deferred tax asset in relation to provisions	26	14
Unrecognized deferred tax asset in respect of accelerated capital allowances	588	230
Deferred tax liability in respect of accelerated capital allowances	£ 71	£ 3

Share capital - Disclosure of s

Share capital - Disclosure of share capital (Details) - GBP (£) £ / shares in Units, £ in Thousands	Jan. 31, 2018	Sep. 18, 2017	Jan. 31, 2017	Jan. 31, 2016
Disclosure of classes of share capital [line items]
Alloted, called up and fully paid	£ 736		£ 618
Ordinary Shares
Disclosure of classes of share capital [line items]
Alloted, called up and fully paid	£ 736		£ 618
Number of shares issued and fully paid (in shares)	73,563,624	8,389,250	61,841,566	61,290,740
Par value per share (in pounds per share)	£ 0.01		£ 0.01

Share capital - Change in Ordin

Share capital - Change in Ordinary Shares (Details) £ in Thousands	Mar. 29, 2018shares	Oct. 04, 2017shares	Oct. 02, 2017shares	Sep. 29, 2017shares	Sep. 28, 2017shares	Jun. 27, 2017shares	Apr. 10, 2017shares	Feb. 22, 2017shares	Jan. 31, 2018GBP (£)shares	Jan. 31, 2017GBP (£)shares	Jan. 31, 2016GBP (£)shares
Number of Shares
Share options exercised (in shares) | shares		88,320	97,199	94,425	32,500	19,425	16,667		348,536	373,781
Disclosure of classes of share capital [abstract]
Share capital, beginning balance									£ 618
New share capital issued (net of transaction costs)									14,931		£ 26,101
Issue of Ordinary Shares as consideration for a business combination									5,000
New share capital issued from exercise of warrants									10	£ 107
Share options exercised									392	283	£ 222
Share capital, ending balance									£ 736	£ 618
Ordinary Shares
Number of Shares
Number of shares issued and fully paid, beginning balance (in shares) | shares									61,841,566	61,290,740
New share capital issued (net of transaction costs) (in shares) | shares	8,333,333								8,389,250
Issue of Ordinary Shares as consideration for a business combination (in shares) | shares									2,934,272
New share capital issued from exercise of warrants (in shares) | shares								50,000	50,000	177,045
Share options exercised (in shares) | shares									348,536	373,781
Number of shares issued and fully paid, ending balance (in shares) | shares									73,563,624	61,841,566	61,290,740
Disclosure of classes of share capital [abstract]
Share capital, beginning balance									£ 618
Share capital, ending balance									736	£ 618
Share capital
Disclosure of classes of share capital [abstract]
New share capital issued (net of transaction costs)									84		£ 198
Issue of Ordinary Shares as consideration for a business combination									30
New share capital issued from exercise of warrants									1	2
Share options exercised									3	3	4
Share capital | Ordinary Shares
Disclosure of classes of share capital [abstract]
Share capital, beginning balance									618	613
New share capital issued (net of transaction costs)									84
Issue of Ordinary Shares as consideration for a business combination									30
New share capital issued from exercise of warrants									1	2
Share options exercised									3	3
Share capital, ending balance									736	618	613
Share premium
Disclosure of classes of share capital [abstract]
New share capital issued (net of transaction costs)									14,847		25,903
Issue of Ordinary Shares as consideration for a business combination									0
New share capital issued from exercise of warrants									9	105
Share options exercised									389	280	218
Share premium | Ordinary Shares
Disclosure of classes of share capital [abstract]
Share capital, beginning balance									46,420	46,035
New share capital issued (net of transaction costs)									13,419
Issue of Ordinary Shares as consideration for a business combination									0
New share capital issued from exercise of warrants									9	105
Share options exercised									389	280
Share capital, ending balance									60,237	46,420	46,035
Total consideration | Ordinary Shares
Disclosure of classes of share capital [abstract]
Share capital, beginning balance									47,038	46,648
New share capital issued (net of transaction costs)									13,503
Issue of Ordinary Shares as consideration for a business combination									30
New share capital issued from exercise of warrants									10	107
Share options exercised									392	283
Share capital, ending balance									£ 60,973	£ 47,038	£ 46,648

Share capital - Narrative (Deta

Share capital - Narrative (Details) £ / shares in Units, $ in Millions	Sep. 18, 2017GBP (£)£ / sharesshares	Feb. 22, 2017GBP (£)£ / sharesshares	Jan. 31, 2018GBP (£)£ / sharesshares	Jan. 31, 2017GBP (£)£ / sharesshares	Jan. 31, 2016GBP (£)shares	Jan. 31, 2018USD ($)shares	Dec. 23, 2017GBP (£)shares£ / shares
Disclosure of classes of share capital [line items]
Proceeds from exercise of warrants			£ 10,000	£ 107,000	£ 0
Share capital			736,000	618,000
Proceeds from exercise of share options			392,000	283,000	£ 222,000
Dividends declared			0	0
Dividends paid			£ 0	£ 0
Ordinary Shares
Disclosure of classes of share capital [line items]
Warrants exercised (in shares) | shares		50,000	50,000	177,045
Exercise price of warrants (in pounds per share) | £ / shares		£ 0.20
Proceeds from exercise of warrants		£ 10,000
Number of shares issued and fully paid (in shares) | shares	8,389,250		73,563,624	61,841,566	61,290,740	73,563,624
Par value per share (in pounds per share) | £ / shares			£ 0.01	£ 0.01
Share capital			£ 736,000	£ 618,000
American Depository Shares
Disclosure of classes of share capital [line items]
Number of shares issued and fully paid (in shares) | shares	1,459,000
Par value per share (in pounds per share) | £ / shares	£ 12
Over-allotment option (in shares) | shares	218,850
Relative number of ordinary shares (in shares) | shares	5
Share capital			£ 14,900,000			$ 20.1
Share issue related cost	£ 1,400,000
Discuva Limited
Disclosure of classes of share capital [line items]
Percentage of voting equity interests acquired							100.00%
Equity interests of acquirer							£ 5,000,000
Shares issued, business combination, price per share (in pounds per share) | £ / shares							£ 1.704
Shares issued, business acquisition (in shares) | shares							2,934,272

Share capital - Number of optio

Share capital - Number of options exercised (Details) - shares	Oct. 04, 2017	Oct. 02, 2017	Sep. 29, 2017	Sep. 28, 2017	Jun. 27, 2017	Apr. 10, 2017	Jan. 31, 2018	Jan. 31, 2017
Disclosure of share capital, reserves and other equity interest [Abstract]
Exercised during the year (in shares)	88,320	97,199	94,425	32,500	19,425	16,667	348,536	373,781

Share option scheme and Restr96

Share option scheme and Restricted Stock Units - Outstanding share options (Details)	Jan. 31, 2018GBP (£)shares	Jan. 31, 2017GBP (£)shares	Jan. 31, 2016GBP (£)shares
Share Options
Number of shares (in shares)	8,577,236	7,383,401	7,006,306
RSU's
Exercise price (in Pounds per share) | £	£ 0.01	£ 0	£ 0
Number of shares (in shares)	275,877	0	0
Approved EMI scheme
Share Options
Number of shares (in shares)	1,085,356
Unapproved scheme
Share Options
Number of shares (in shares)	7,491,880
April 7, 2011 | Approved EMI scheme
Share Options
Exercise price of outstanding share options (in Pounds per share) | £	£ 0.65
Number of shares (in shares)	5,873
April 7, 2011 | Unapproved scheme
Share Options
Exercise price of outstanding share options (in Pounds per share) | £	£ 0.65
Number of shares (in shares)	13,981
May 10, 2012 | Approved EMI scheme
Share Options
Exercise price of outstanding share options (in Pounds per share) | £	£ 0.60
Number of shares (in shares)	150,046
December 24, 2012 | Approved EMI scheme
Share Options
Exercise price of outstanding share options (in Pounds per share) | £	£ 0.85
Number of shares (in shares)	21,500
December 18, 2013 | Unapproved scheme
Share Options
Exercise price of outstanding share options (in Pounds per share) | £	£ 0.20
Number of shares (in shares)	76,364
January 31, 2013 | Approved EMI scheme
Share Options
Exercise price of outstanding share options (in Pounds per share) | £	£ 0.20
Number of shares (in shares)	72,973
June 23, 2014 | Unapproved scheme
Share Options
Number of shares (in shares)	400,000
July 15, 2014 | Approved EMI scheme
Share Options
Exercise price of outstanding share options (in Pounds per share) | £	£ 1.26
Number of shares (in shares)	249,621
January 21, 2015 | Approved EMI scheme
Share Options
Exercise price of outstanding share options (in Pounds per share) | £	£ 1.23
Number of shares (in shares)	25,000
January 21, 2015 | Unapproved scheme
Share Options
Exercise price of outstanding share options (in Pounds per share) | £	£ 1.23
Number of shares (in shares)	75,000
June 16, 2015 | Unapproved scheme
Share Options
Exercise price of outstanding share options (in Pounds per share) | £	£ 1.43
Number of shares (in shares)	2,252,333
October 15, 2015 | Unapproved scheme
Share Options
Exercise price of outstanding share options (in Pounds per share) | £	£ 1.31
Number of shares (in shares)	50,000
June 23, 2016 | Approved EMI scheme
Share Options
Exercise price of outstanding share options (in Pounds per share) | £	£ 1.05
Number of shares (in shares)	560,343
June 27, 2017 | Unapproved scheme
Share Options
Exercise price of outstanding share options (in Pounds per share) | £	£ 1.80
Number of shares (in shares)	34,711
July 18, 2017 | Unapproved scheme
RSU's
Exercise price (in Pounds per share) | £	£ 0.01
Number of shares (in shares)	136,991
October 24, 2017 | Unapproved scheme
RSU's
Exercise price (in Pounds per share) | £	£ 0.01
Number of shares (in shares)	138,886
Tranche one | June 23, 2014 | Unapproved scheme
Share Options
Number of shares (in shares)	16,667
Tranche one | July 15, 2014 | Unapproved scheme
Share Options
Exercise price of outstanding share options (in Pounds per share) | £	£ 1.26
Number of shares (in shares)	847,500
Tranche one | June 23, 2016 | Unapproved scheme
Share Options
Exercise price of outstanding share options (in Pounds per share) | £	£ 0.01
Number of shares (in shares)	110,576
Tranche one | April 11, 2017 | Unapproved scheme
Share Options
Exercise price of outstanding share options (in Pounds per share) | £	£ 1.85
Number of shares (in shares)	150,436
Tranche one | July 18, 2017 | Unapproved scheme
Share Options
Exercise price of outstanding share options (in Pounds per share) | £	£ 1.83
Number of shares (in shares)	533,629
Tranche one | October 24, 2017 | Unapproved scheme
Share Options
Exercise price of outstanding share options (in Pounds per share) | £	£ 1.80
Number of shares (in shares)	481,975
Tranche two | June 23, 2014 | Unapproved scheme
Share Options
Exercise price of outstanding share options (in Pounds per share) | £	£ 1.48
Number of shares (in shares)	400,000
Tranche two | July 15, 2014 | Unapproved scheme
Share Options
Exercise price of outstanding share options (in Pounds per share) | £	£ 0.80
Number of shares (in shares)	100,000
Tranche two | June 23, 2016 | Unapproved scheme
Share Options
Exercise price of outstanding share options (in Pounds per share) | £	£ 1.05
Number of shares (in shares)	250,000
Tranche two | April 11, 2017 | Unapproved scheme
Share Options
Exercise price of outstanding share options (in Pounds per share) | £	£ 1.85
Number of shares (in shares)	324,324
Tranche two | July 18, 2017 | Unapproved scheme
Share Options
Exercise price of outstanding share options (in Pounds per share) | £	£ 1.83
Number of shares (in shares)	367,924
Tranche two | October 24, 2017 | Unapproved scheme
Share Options
Exercise price of outstanding share options (in Pounds per share) | £	£ 1.80
Number of shares (in shares)	297,271
Tranche three | June 23, 2016 | Unapproved scheme
Share Options
Exercise price of outstanding share options (in Pounds per share) | £	£ 1.05
Number of shares (in shares)	363,092
Tranche three | April 11, 2017 | Unapproved scheme
Share Options
Exercise price of outstanding share options (in Pounds per share) | £	£ 1.85
Number of shares (in shares)	762,764

Share option scheme and Restr97

Share option scheme and Restricted Stock Units - Movement in options (Details)	Oct. 04, 2017shares	Oct. 02, 2017shares	Sep. 29, 2017shares	Sep. 28, 2017shares	Jun. 27, 2017shares	Apr. 10, 2017shares	Jan. 31, 2018GBP (£)shares	Jan. 31, 2017GBP (£)shares
Share Options
Outstanding at February 1, (in Pounds per share) | £							£ 1.17	£ 1.29
Granted during the year (in Pounds per share) | £							1.83	0.98
Lapsed during the year (in Pounds per share) | £							0.99	1.90
Exercised during the year (in Pounds per share) | £							1.13	0.76
Outstanding at January 31, (in Pounds per share) | £							£ 1.43	£ 1.17
Outstanding at February 1, (in shares) | shares							7,383,401	7,006,306
Granted during the year (in shares) | shares							2,972,903	1,667,576
Lapsed during the year (in shares) | shares							(1,430,532)	(916,700)
Exercised during the year (in shares) | shares	(88,320)	(97,199)	(94,425)	(32,500)	(19,425)	(16,667)	(348,536)	(373,781)
Outstanding at January 31, (in shares) | shares							8,577,236	7,383,401
RSU's
Outstanding at February 1, (in Pounds per share) | £							£ 0	£ 0
Granted during the year (in Pounds per share) | £							0.01	0
Outstanding at January 31, (in Pounds per share) | £							£ 0.01	£ 0
Outstanding at February 1, (in shares) | shares							0	0
Granted during the year (in shares) | shares							275,877	0
Outstanding at January 31, (in shares) | shares							275,877	0

Share option scheme and Restr98

Share option scheme and Restricted Stock Units - Narrative (Details)	12 Months Ended
	Jan. 31, 2018GBP (£)yearshares	Jan. 31, 2017GBP (£)yearshares	Jan. 31, 2016GBP (£)shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of share options exercisable in share-based payment arrangement (in shares)	2,042,546	1,972,654
Weighted average exercise price of share options exercisable in share-based payment arrangement (in pounds per share) | £	£ 1	£ 0.84
Number of outstanding options (in Pounds per share) | £	£ 1.43	£ 1.17	£ 1.29
Share options, remaining contractual life | year	7.9	8.9
Number of shares (in shares)	8,577,236	7,383,401	7,006,306
Number of RSUs exercisable in share-based payment arrangement (in shares)	0	0
Weighted average exercise price of RSUs exercisable in share-based payment arrangement (in Pounds per share) | £	£ 0.01	£ 0
RSUs, remaining contractual life | year	0.9
Bottom of range
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility, share options granted	39.00%
Expected volatility, RSUs granted	47.00%
Top of range
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expected volatility, share options granted	134.00%
Expected volatility, RSUs granted	84.00%
Unapproved scheme
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares (in shares)	7,491,880
Unapproved scheme | December 18, 2013
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price of outstanding share options (in Pounds per share) | £	£ 0.20
Number of shares (in shares)	76,364
Unapproved scheme | June 23, 2014
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares (in shares)	400,000
Unapproved scheme | Tranche one | June 23, 2014
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares (in shares)	16,667
Approved EMI scheme
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares (in shares)	1,085,356
Approved EMI scheme | January 31, 2013
Disclosure of terms and conditions of share-based payment arrangement [line items]
Exercise price of outstanding share options (in Pounds per share) | £	£ 0.20
Number of shares (in shares)	72,973

Share option scheme and Restr99

Share option scheme and Restricted Stock Units - Fair value per award granted (Details)	12 Months Ended
	Jan. 31, 2018GBP (£)yearshares	Jan. 31, 2017GBP (£)shares	Jan. 31, 2016GBP (£)shares
Share Options
Number of shares (in shares) | shares	8,577,236	7,383,401	7,006,306
RSU's
Number of shares (in shares) | shares	275,877	0	0
Exercise price (in Pounds per share)	£ 0.01	£ 0	£ 0
Share price at grant date (in Pounds per share)	£ 0.01	£ 0
Approved EMI scheme
Share Options
Number of shares (in shares) | shares	1,085,356
Unapproved scheme
Share Options
Number of shares (in shares) | shares	7,491,880
April 7, 2011 | Approved EMI scheme
Share Options
Number of shares (in shares) | shares	5,873
Exercise price of outstanding share options (in Pounds per share)	£ 0.65
Share price at grant date	0.65
Fair value per option (in Pounds per share)	£ 0.47
Award life (years) | year	5
Risk free rate	2.70%
April 7, 2011 | Unapproved scheme
Share Options
Number of shares (in shares) | shares	13,981
Exercise price of outstanding share options (in Pounds per share)	£ 0.65
Share price at grant date	0.65
Fair value per option (in Pounds per share)	£ 0.47
Award life (years) | year	5
Risk free rate	2.70%
May 10, 2012 | Approved EMI scheme
Share Options
Number of shares (in shares) | shares	150,046
Exercise price of outstanding share options (in Pounds per share)	£ 0.60
Share price at grant date	0.52
Fair value per option (in Pounds per share)	£ 0.24
Award life (years) | year	5
Risk free rate	1.00%
December 24, 2012 | Approved EMI scheme
Share Options
Number of shares (in shares) | shares	21,500
Exercise price of outstanding share options (in Pounds per share)	£ 0.85
Share price at grant date	0.85
Fair value per option (in Pounds per share)	£ 0.59
Award life (years) | year	5
Risk free rate	0.90%
January 31, 2013 | Approved EMI scheme
Share Options
Number of shares (in shares) | shares	72,973
Exercise price of outstanding share options (in Pounds per share)	£ 0.20
Share price at grant date	0.94
Fair value per option (in Pounds per share)	£ 0.74
Award life (years) | year	5
Risk free rate	1.00%
December 18, 2013 | Unapproved scheme
Share Options
Number of shares (in shares) | shares	76,364
Exercise price of outstanding share options (in Pounds per share)	£ 0.20
Share price at grant date	1.85
Fair value per option (in Pounds per share)	£ 1.65
Award life (years) | year	5
Risk free rate	1.00%
June 23, 2014 | Unapproved scheme
Share Options
Number of shares (in shares) | shares	400,000
July 15, 2014 | Approved EMI scheme
Share Options
Number of shares (in shares) | shares	249,621
Exercise price of outstanding share options (in Pounds per share)	£ 1.26
Share price at grant date	1.26
Fair value per option (in Pounds per share)	£ 0.65
Award life (years) | year	3
Risk free rate	1.30%
January 21, 2015 | Approved EMI scheme
Share Options
Number of shares (in shares) | shares	25,000
Exercise price of outstanding share options (in Pounds per share)	£ 1.23
Share price at grant date	1.22
Fair value per option (in Pounds per share)	£ 0.64
Award life (years) | year	3
Risk free rate	0.60%
January 21, 2015 | Unapproved scheme
Share Options
Number of shares (in shares) | shares	75,000
Exercise price of outstanding share options (in Pounds per share)	£ 1.23
Share price at grant date	1.22
Fair value per option (in Pounds per share)	£ 0.64
Award life (years) | year	3
Risk free rate	0.60%
June 15, 2015 | Unapproved scheme
Share Options
Number of shares (in shares) | shares	2,252,333
Exercise price of outstanding share options (in Pounds per share)	£ 1.43
Share price at grant date	1.44
Fair value per option (in Pounds per share)	£ 0.65
Award life (years) | year	3
Risk free rate	0.91%
October 15, 2015 | Unapproved scheme
Share Options
Number of shares (in shares) | shares	50,000
Exercise price of outstanding share options (in Pounds per share)	£ 1.31
Share price at grant date	1.36
Fair value per option (in Pounds per share)	£ 0.57
Award life (years) | year	3
Risk free rate	0.70%
June 23, 2016 | Approved EMI scheme
Share Options
Number of shares (in shares) | shares	560,343
Exercise price of outstanding share options (in Pounds per share)	£ 1.05
Share price at grant date	1.05
Fair value per option (in Pounds per share)	£ 0.25
Award life (years) | year	3
Risk free rate	0.30%
June 27, 2017 | Unapproved scheme
Share Options
Number of shares (in shares) | shares	34,711
Exercise price of outstanding share options (in Pounds per share)	£ 1.80
Share price at grant date	1.78
Fair value per option (in Pounds per share)	£ 0.64
Award life (years) | year	3
Risk free rate	0.23%
July 18, 2017 | Unapproved scheme
RSU's
Number of shares (in shares) | shares	136,991
Exercise price (in Pounds per share)	£ 0.01
Share price at grant date (in Pounds per share)	1.83
Fair value per option (in Pounds per share)	£ 1.82
Award life (years) | year	1
Risk free rate	0.24%
October 24, 2017 | Unapproved scheme
RSU's
Number of shares (in shares) | shares	138,886
Exercise price (in Pounds per share)	£ 0.01
Share price at grant date (in Pounds per share)	1.70
Fair value per option (in Pounds per share)	£ 1.69
Award life (years) | year	1
Risk free rate	0.40%
Tranche one | June 23, 2014 | Unapproved scheme
Share Options
Number of shares (in shares) | shares	16,667
Tranche one | July 15, 2014 | Unapproved scheme
Share Options
Number of shares (in shares) | shares	847,500
Exercise price of outstanding share options (in Pounds per share)	£ 1.26
Share price at grant date	1.26
Fair value per option (in Pounds per share)	£ 0.65
Award life (years) | year	3
Risk free rate	1.30%
Tranche one | June 23, 2016 | Unapproved scheme
Share Options
Number of shares (in shares) | shares	110,576
Exercise price of outstanding share options (in Pounds per share)	£ 0.01
Share price at grant date	1.05
Fair value per option (in Pounds per share)	£ 1.04
Award life (years) | year	0.50
Risk free rate	0.30%
Tranche one | April 11, 2017 | Unapproved scheme
Share Options
Number of shares (in shares) | shares	150,436
Exercise price of outstanding share options (in Pounds per share)	£ 1.85
Share price at grant date	1.85
Fair value per option (in Pounds per share)	£ 0.68
Award life (years) | year	3
Risk free rate	0.07%
Tranche one | July 18, 2017 | Unapproved scheme
Share Options
Number of shares (in shares) | shares	533,629
Exercise price of outstanding share options (in Pounds per share)	£ 1.83
Share price at grant date	1.83
Fair value per option (in Pounds per share)	£ 0.66
Award life (years) | year	3
Risk free rate	0.26%
Tranche one | October 24, 2017 | Unapproved scheme
Share Options
Number of shares (in shares) | shares	481,975
Exercise price of outstanding share options (in Pounds per share)	£ 1.80
Share price at grant date	1.70
Fair value per option (in Pounds per share)	£ 0.57
Award life (years) | year	3
Risk free rate	0.46%
Tranche two | June 23, 2014 | Unapproved scheme
Share Options
Number of shares (in shares) | shares	400,000
Exercise price of outstanding share options (in Pounds per share)	£ 1.48
Share price at grant date	1.50
Fair value per option (in Pounds per share)	£ 0.92
Award life (years) | year	3.80
Risk free rate	1.30%
Tranche two | July 15, 2014 | Unapproved scheme
Share Options
Number of shares (in shares) | shares	100,000
Exercise price of outstanding share options (in Pounds per share)	£ 0.80
Share price at grant date	0.81
Fair value per option (in Pounds per share)	£ 0.65
Award life (years) | year	1.90
Risk free rate	0.50%
Tranche two | June 23, 2016 | Unapproved scheme
Share Options
Number of shares (in shares) | shares	250,000
Exercise price of outstanding share options (in Pounds per share)	£ 1.05
Share price at grant date	1.05
Fair value per option (in Pounds per share)	£ 0.24
Award life (years) | year	3
Risk free rate	0.30%
Tranche two | April 11, 2017 | Unapproved scheme
Share Options
Number of shares (in shares) | shares	324,324
Exercise price of outstanding share options (in Pounds per share)	£ 1.85
Share price at grant date	1.85
Fair value per option (in Pounds per share)	£ 0.72
Award life (years) | year	3
Risk free rate	0.13%
Tranche two | July 18, 2017 | Unapproved scheme
Share Options
Number of shares (in shares) | shares	367,924
Exercise price of outstanding share options (in Pounds per share)	£ 1.83
Share price at grant date	1.83
Fair value per option (in Pounds per share)	£ 0.74
Award life (years) | year	3
Risk free rate	0.31%
Tranche two | October 24, 2017 | Unapproved scheme
Share Options
Number of shares (in shares) | shares	297,271
Exercise price of outstanding share options (in Pounds per share)	£ 1.80
Share price at grant date	1.70
Fair value per option (in Pounds per share)	£ 0.66
Award life (years) | year	3
Risk free rate	0.55%
Tranche three | June 23, 2016 | Unapproved scheme
Share Options
Number of shares (in shares) | shares	363,092
Exercise price of outstanding share options (in Pounds per share)	£ 1.05
Share price at grant date	1.05
Fair value per option (in Pounds per share)	£ 0.25
Award life (years) | year	3
Risk free rate	0.30%
Tranche three | April 11, 2017 | Unapproved scheme
Share Options
Number of shares (in shares) | shares	762,764
Exercise price of outstanding share options (in Pounds per share)	£ 1.85
Share price at grant date	1.85
Fair value per option (in Pounds per share)	£ 0.76
Award life (years) | year	2.20
Risk free rate	0.07%

Fixed assets purchase commit100

Fixed assets purchase commitments (Details) - GBP (£)	Jan. 31, 2018	Jan. 31, 2017
Fixed Assets Purchase Commitments [Abstract]
Contractual capital commitments	£ 0	£ 0

Leasing and other commitment101

Leasing and other commitments (Details) - GBP (£) £ in Thousands	Jan. 31, 2018	Feb. 17, 2017	Jan. 31, 2017
Disclosure of finance lease and operating lease by lessee [line items]
Minimum lease payments payable under non-cancellable operating lease	£ 1,480		£ 210
Not later than one year
Disclosure of finance lease and operating lease by lessee [line items]
Minimum lease payments payable under non-cancellable operating lease	337		88
Later than one year and not later than five years
Disclosure of finance lease and operating lease by lessee [line items]
Minimum lease payments payable under non-cancellable operating lease	£ 1,143		£ 122
New UK Office Premises
Disclosure of finance lease and operating lease by lessee [line items]
Minimum lease payments payable under non-cancellable operating lease		£ 687

Related party transactions (Det

Related party transactions (Details) - GBP (£)	12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017
Juniper Pharma Services Limited
Disclosure of transactions between related parties [line items]
Fees paid to related party	£ 0	£ 65,000
Amounts payable to related party	0	0
Oxford University Innovation Limited
Disclosure of transactions between related parties [line items]
Fees paid to related party	24,000	36,000
Amounts payable to related party	£ 12,000	£ 0

Business combinations - Narrati

Business combinations - Narrative (Details) £ / shares in Units, £ in Thousands	1 Months Ended	12 Months Ended
	Jan. 31, 2018GBP (£)	Jan. 31, 2018GBP (£)£ / shares	Dec. 23, 2017GBP (£)shares£ / shares	Jan. 31, 2017GBP (£)
Disclosure of transactions recognised separately from acquisition of assets and assumption of liabilities in business combination [line items]
Goodwill	£ 2,478	£ 2,478		£ 664
Pro forma loss per share (in pounds per share) | £ / shares		£ 0.11
Acquisition-related costs excluded from consideration transferred		£ 400
Discuva Limited
Disclosure of transactions recognised separately from acquisition of assets and assumption of liabilities in business combination [line items]
Percentage of voting equity interests acquired			100.00%
Cash transferred			£ 6,091
Cash transferred, net of cash acquired			5,000
Equity interests of acquirer			£ 5,000
Shares issued, business combination, price per share (in pounds per share) | £ / shares			£ 1.704
Shares issued, business acquisition (in shares) | shares			2,934,272
Goodwill			£ 1,814
Intangible assets - SATIn technology platform			10,670
Contingent liabilities recognised as of acquisition date	1,466	1,466	1,466
Trade and other receivables			£ 1,129
Revenue of acquiree since acquisition date	£ 300
Revenue of acquiree since acquisition date, percent of total	1.20%
Profit of acquiree since acquisition date	£ (20)
Pro-forma revenue		28,100
Pro-forma comprehensive loss		£ 7,300

Business combinations - Schedul

Business combinations - Schedule of Assets Acquired and Liabilities Assumed (Details) £ in Thousands	Jan. 31, 2018GBP (£)	Dec. 23, 2017GBP (£)shares	Jan. 31, 2017GBP (£)
Recognized amounts of identifiable assets acquired and liabilities assumed
Goodwill	£ 2,478		£ 664
Discuva Limited
Consideration
Cash		£ 6,091
2,934,272 new Summit Therapeutics plc Ordinary Shares issued		£ 5,000
2,934,272 new Summit Therapeutics plc Ordinary Shares issued (in shares) | shares		2,934,272
Total consideration		£ 11,091
Recognized amounts of identifiable assets acquired and liabilities assumed
Cash and cash equivalents		1,316
Property, plant and equipment		329
Intangible assets - option over non-financial assets		668
Intangible assets - bacterial genetics-based platform		10,670
Trade and other receivables		1,129
Trade and other payables		(1,555)
Assumed contingent liabilities	£ (1,466)	(1,466)
Deferred tax liabilities		(1,814)
Book and fair value of identifiable net assets		9,277
Goodwill		1,814
Total consideration		11,091
Book value | Discuva Limited
Consideration
Total consideration		1,887
Recognized amounts of identifiable assets acquired and liabilities assumed
Cash and cash equivalents		1,316
Property, plant and equipment		329
Intangible assets - option over non-financial assets		668
Intangible assets - bacterial genetics-based platform		0
Trade and other receivables		1,129
Trade and other payables		(1,555)
Assumed contingent liabilities		0
Deferred tax liabilities		0
Book and fair value of identifiable net assets		1,887
Goodwill		0
Total consideration		1,887
Fair value adjustment | Discuva Limited
Consideration
Total consideration		9,204
Recognized amounts of identifiable assets acquired and liabilities assumed
Cash and cash equivalents		0
Property, plant and equipment		0
Intangible assets - option over non-financial assets		0
Intangible assets - bacterial genetics-based platform		10,670
Trade and other receivables		0
Trade and other payables		0
Assumed contingent liabilities		(1,466)
Deferred tax liabilities		(1,814)
Book and fair value of identifiable net assets		7,390
Goodwill		1,814
Total consideration		£ 9,204

Subsequent events (Details)

Subsequent events (Details) - GBP (£) £ / shares in Units, £ in Thousands	Mar. 29, 2018	Jan. 31, 2018	Sep. 18, 2017	Jan. 31, 2017	Jan. 31, 2016
Disclosure of classes of share capital [line items]
Share capital		£ 736		£ 618
Ordinary Shares
Disclosure of classes of share capital [line items]
New share capital issued (in shares)	8,333,333	8,389,250
Par value per share (in pounds per share)		£ 0.01		£ 0.01
Share capital		£ 736		£ 618
Number of shares issued and fully paid (in shares)		73,563,624	8,389,250	61,841,566	61,290,740
Major ordinary share transactions | Ordinary Shares
Disclosure of classes of share capital [line items]
Par value per share (in pounds per share)	£ 1.8
Share capital	£ 15,000
Number of shares issued and fully paid (in shares)	81,901,173