AstraZeneca finalizes $2 billion investment in Summit Therapeutics
AstraZeneca has completed a $2 billion equity investment in Summit Therapeutics. The funding is intended to accelerate the development of ivonescimab in combination therapies.
AstraZeneca has finalized its $2 billion equity investment in Summit Therapeutics, aiming to speed up the development of ivonescimab. This bispecific antibody targets PD-1 and VEGF and will be studied in combination with antibody-drug conjugates (ADCs) across various cancer types.
The companies have also entered into a clinical collaboration to evaluate sonesitatug vedotin in combination with ivonescimab. AstraZeneca and Summit Therapeutics intend to establish a broader global development program that will include other AstraZeneca cancer medicines, including additional ADCs.
In a separate development, AstraZeneca and Daiichi Sankyo have initiated a clinical collaboration with Summit to evaluate datopotamab deruxtecan in combination with ivonescimab. This collaboration will focus on multiple tumor types, including lung and breast cancers.
The investment and collaborations signal AstraZeneca's commitment to advancing novel combination therapies in oncology, leveraging ivonescimab's potential to create new treatment options for patients.