AstraZeneca, Daiichi Sankyo Expand Cancer Push Through Summit Partnership

AstraZeneca PLC (NASDAQ:AZN) and Daiichi Sankyo Co., Ltd.(OTC:DSNKY) said Thursday they entered a clinical collaboration with Summit Therapeutics Inc. (NASDAQ:SMMT) to test a new cancer-drug combination across several tumor types. The companies will evaluate AstraZeneca and Daiichi Sankyo’s Datroway with Summit’s ivonescimab, starting with a Phase 3 trial in first-line triple-negative breast cancer. Datroway is a TROP2-directed DXd antibody-drug conjugate discovered by Daiichi Sankyo and co-developed with AstraZeneca. Sharing the Burden of Progress Under the pact’s terms, each partner will supply their specific drug for the intended combination studies, which AstraZeneca or Daiichi Sankyo will sponsor. All three entities will share the trial expenses while retaining the development and commercial rights to their respective products. AstraZeneca’s Strategic Investment AstraZeneca disclosed an equity investment intended to partly finance clinical studies evaluating combinations involving ivonescimab. This includes the agreement for Datroway, a distinct arrangement with Summit for combinations involving sonesitatug vedotin, and anticipated future clinical trials assessing combinations with other AstraZeneca oncology drugs, including further ADCs. On Tuesday, AstraZeneca agreed to invest $2 billion in newly issued equity in Summit Therapeutics to accelerate the development of ivonescimab in combination with antibody-drug conjugates (ADCs) across tumor types. Ivonescimab’s Evolving Role Ivonescimab, a bispecific antibody, merges immunotherapy effects via a PD-1 blockade with anti-angiogenesis effects from blocking VEGF. While approved for specific non-small cell lung cancer patients in China, the U.S. Food and Drug Administration is reviewing a Biologics License Application for EGFR-mutated NSCLC. The drug is currently undergoing Phase 3 trials for various other cancers. Price Action: AstraZeneca shares were up 0.59% at $158.63 and Summit Therapeutics shares were up 1.26% at $16.89 during premarket trading on Friday, according to Benzinga Pro data. Photo via Shutterstock Read Also: Gold ETFs Keep the Bid, but Investors Miss This Key Seasonality Pattern