Mergers & Acquisitions ·
AstraZeneca completes $2 billion equity investment in Summit Therapeutics to accelerate cancer drug development
AZNAstrazeneca PLC
AstraZeneca has completed a $2 billion equity investment in Summit Therapeutics. The capital will accelerate the development of ivonescimab, a first-in-class bispecific antibody targeting PD-1 and VEGF, particularly in combination with antibody drug conjugates (ADCs). This follows previously announced clinical collaboration agreements to evaluate sonesitatug vedotin and Datroway alongside ivonescimab across multiple tumor types. AstraZeneca is a global biopharmaceutical company focused on the discovery, development, and commercialization of prescription medicines in oncology, rare disease, and biotherapeutics.