AstraZeneca today announced the successful completion of its $2 billion equity investment in Summit Therapeutics. The equity investment will accelerate the development of ivonescimab, a first-in-class bispecific antibody targeting PD-1 and VEGF, in combination with antibody drug conjugates (ADCs) across tumour types.
As previously announced, the companies have also entered into a clinical collaboration agreement to evaluate sonesitatug vedotin (Sone-Ve) in combination with ivonescimab and intend to enter into an additional agreement initiating a global development programme combining other AstraZeneca cancer medicines, including additional ADCs, with ivonescimab.
In a separate agreement announced on Friday, AstraZeneca and Daiichi Sankyo entered into a clinical collaboration with Summit to evaluate Datroway (datopotamab deruxtecan) in combination with ivonescimab across multiple tumour types including lung and breast cancers.
