Mr Spencer was CFO of the UK biotechnology Company Antisoma until November 2008, a position he held for 12 years. He qualified as a chartered account with KPMG and prior to working with Antisoma, was finance director at Cambridge Molecular Technologies.
Barry Price, chairman of Summit, said: “Raymond brings significant financial experience to Summit that will be very important in helping the company to continue to evaluate and progress all available options towards securing the future of the business.”