AstraZeneca invests US$2B in Summit Therapeutics for oncology combinations
The companies have also signed a non-binding MoU covering a broader global programme to evaluate ivonescimab in combination with additional AstraZeneca oncology therapies.
USA—AstraZeneca has agreed to invest US$2 billion in Summit Therapeutics to develop cancer treatments combining ivonescimab with antibody drug conjugates (ADCs) across multiple tumour types.
Under the agreement, AstraZeneca will acquire approximately 109,000 newly issued preferred shares in Summit.
The shares will be convertible into Summit common stock at a ratio of 1:1,000, giving AstraZeneca an estimated 12% stake in the company’s outstanding common stock, or 10.6% on a fully diluted basis.
In addition to the investment, the companies have entered into a clinical collaboration to evaluate ivonescimab with sonesitatug vedotin (Sone Ve), an ADC that targets claudin 18.2 (CLDN18.2) and delivers the cytotoxic payload monomethyl auristatin E.
The partners plan to initiate clinical trials in gastrointestinal cancers.
Each company will supply its respective drug candidate and share clinical trial costs, while retaining independent development and commercialisation rights.
The companies have also signed a non-binding memorandum of understanding (MoU) covering a broader global programme to evaluate ivonescimab in combination with additional AstraZeneca oncology therapies.
Expanding the role of bispecific antibodies
Ivonescimab is a bispecific antibody developed by Akeso that simultaneously targets programmed cell death protein 1 (PD-1) and vascular endothelial growth factor (VEGF).
Summit holds exclusive development and commercialisation rights to the drug outside China, while Akeso retains rights in China and other territories.
The drug is approved in China for certain patients with non-small cell lung cancer (NSCLC).
Meanwhile, the US Food and Drug Administration (FDA) is reviewing a biologics license application (BLA) for ivonescimab in EGFR-mutated NSCLC.
The collaboration gives AstraZeneca an opportunity to test its ADC portfolio alongside a therapy designed to address two biological pathways involved in cancer progression and immune response.
ADCs are increasingly being investigated in combination regimens, including with immunotherapies and other targeted treatments, as drugmakers seek to extend their use across different tumour types.
AstraZeneca Oncology and Haematology R&D Executive Vice President Susan Galbraith said expanding the use of ADCs through combinations with newer immunotherapies remains a core part of the company’s oncology strategy.
She added that bispecific antibodies targeting PD-1 and VEGF are advancing rapidly and could support new treatment approaches in cancers including lung, breast and gastrointestinal tumours.
Sone Ve and wider oncology pipeline
AstraZeneca licensed Sone Ve globally from KYM Biosciences in March 2023.
The ADC targets CLDN18.2, a protein expressed in several gastrointestinal cancers, making it a candidate for combination development with other targeted and immune-based therapies.
The latest agreement also extends AstraZeneca’s work on ADCs beyond individual products by creating a framework to test ivonescimab with other oncology medicines in its pipeline.
Earlier this month, the FDA granted accelerated approval to AstraZeneca’s Etcamah (camizestrant) for use with a cyclin-dependent kinase 4/6 (CDK4/6) inhibitor, including abemaciclib, palbociclib or ribociclib, in breast cancer.
The transaction therefore combines a significant equity investment with a near term clinical programme and a proposed wider collaboration, linking Summit’s rights to ivonescimab outside China with AstraZeneca’s established oncology development portfolio.
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