IN BRIEF: AstraZeneca completes USD2 billion Summit investment

AstraZeneca PLC - Cambridge, England-based pharmaceutical company - Says it has successfully completed its USD2 billion equity investment in Summit Therapeutics. The funding will accelerate the development of first-in-class bispecific antibody ivonescimab, which targets PD-1 and VEGF across multiple tumour types in combination with antibody-drug conjugates. Notes that it has also entered a clinical collaboration agreement with Summit to evaluate sonesitatug vedotin in combination with ivonescimab. They also intend to enter an additional deal, which would initiate a global development programme combining other AstraZeneca cancer medicines.

Additionally, Astra notes its announcement on Friday that it and Daiichi Sankyo Co Ltd have entered a clinical collaboration with Summit to evaluate Datroway, or datopotamab deruxtecan, across multiple tumour types. This will start with a phase 3 trial of the combination in initial treatment for patients with triple-negative breast cancer. Datroway, discovered by Daiichi and being commercialised by Daiichi and AstraZeneca, is an antibody-drug conjugate designed to target the protein Trop-2.

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