AstraZeneca Has Entered Into An Agreement To Invest $2B In Newly Issued Equity In Summit Therapeutics To Accelerate The Development Of Ivonescimab, A First-In-Class Bispecific Antibody Targeting PD-1 And VEGF, In Combination With Antibody Drug Conjugates Across Tumour Types; Summit And AstraZeneca Have Also Entered Into A Clinical Collaboration Agreement To Evaluate Sonesitatug Vedotin In Combination With Ivonescimab

AstraZeneca has agreed to invest $2 billion in newly issued equity in Summit Therapeutics to expedite the development of Ivonescimab, a bispecific antibody targeting PD-1 and VEGF. The investment aims to enhance the use of Ivonescimab in combination with antibody drug conjugates across various tumor types. Additionally, AstraZeneca and Summit have entered into a clinical collaboration agreement to evaluate Sonesitatug Vedotin in combination with Ivonescimab.