STAT+: AstraZeneca invests $2 billion in Summit Therapeutics
AstraZeneca is teaming up with Summit Therapeutics to test its PD-1/VEGF bispecific ivonescimab alongside AstraZeneca’s antibody-drug conjugates.
AstraZeneca has committed $2 billion towards Summit Therapeutics, according to recent reports. The sum represents the total potential value of the deal, should all future milestones be met. This investment comes after Novo Nordisk licensed a promising drug from Hengrui Pharma. The drug is a weekly oral medication combining GLP-1 and GIP receptor agonists, currently in Phase 1 clinical development. The deal price was $300 million upfront from Hengrui, excluding China.
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