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2 clusters · 19 sources · 6 days · First seen 28 days ago · Last updated 22 days ago

AstraZeneca investment in Summit Therapeutics

Overview

AstraZeneca has initiated a $2 billion strategic equity investment in Summit Therapeutics through the purchase of convertible preferred stock. This deal is intended to accelerate the development of the investigational PD-1/VEGF bispecific antibody, ivonescimab.

Following the investment, a collaboration was established between Summit Therapeutics, AstraZeneca, and Daiichi Sankyo to conduct a Phase III clinical trial. This study will evaluate the combination of Datroway and ivonescimab for patients with first-line triple-negative breast cancer. While the companies will share trial costs, each will retain the development and commercial rights to their respective medicines.

Entities

Ivonescimab · Summit Therapeutics · AstraZeneca · Daiichi Sankyo · Sonesitatug vedotin

Timeline

22 days ago

[BUSINESS] 3 sources
AstraZeneca invests $2 billion in Summit Therapeutics for cancer drug trials
AstraZeneca has completed a $2 billion investment in Summit Therapeutics and partnered with Daiichi Sankyo for a Phase III trial of ivonescimab in triple-negative breast cancer.
28 days ago

[BUSINESS] 16 sources
AstraZeneca announces $2bn Summit Therapeutics deal and Italian research investment
AstraZeneca is investing $2 billion in Summit Therapeutics for a cancer drug collaboration and launching a 66.2 million euro research program in Italy over the next three years.

Sources

adnKronos.com · brasilemfolhas.com.br · cagliarilivemagazine.it · canaledieci.it · egnews.it · entilocali-online.it · financial-news.co.uk · finanznachrichten.de · ilfattonisseno.it · ilsannioquotidiano.it · it-boltwise.de · key4biz.it · medicaldialogues.in · newsable.asianetnews.com · pharmaceutical-business-review.com · pulse2.com · quotidianodelsud.it · rifday.it · standard.co.uk