{
  "id": 10652497,
  "title": "AstraZeneca, Merck, Novo deals boost Chinese biotech as global interest grows",
  "url": "https://urgent.news/2026/09/29/astrazeneca-merck-novo-deals-boost-chinese-biotech-as-global-interest",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-29T09:00:07.000Z",
  "source": {
    "name": "SCMP Business",
    "slug": "scmp-business",
    "url": "https://www.scmp.com/business/china-business/article/3369187/astrazeneca-merck-novo-deals-boost-chinese-biotech-global-interest-grows"
  },
  "original_language": "en",
  "account": "AstraZeneca, Merck, and Novo's recent deals have propelled China's biotech sector as global interest surges. AstraZeneca invested $2 billion in Summit Therapeutics, which secures the rights to develop and commercialize Akeso's immunotherapy ivonescimab outside China. The companies plan to begin clinical trials evaluating ivonescimab in combination with AstraZeneca's antibody-drug conjugates, including gastrointestinal cancer drug sonesitatug vedotin. Summit Therapeutics' shares rose more than 19% in after-hours trading on Monday.\n\nChina's biotech industry benefited from Danish drugmaker Novo licensing Hengrui Pharmaceuticals' oral GLP-1 weight-loss drug HRS-1596 in a deal worth up to $2.6 billion, including $300 million upfront. Hengrui's shares climbed 1.9% in Hong Kong.\n\nMerck agreed to pay up to $2.13 billion for Shanghai-based SciBrunch Therapeutics' pre-clinical oral drug SPR2015, targeting KRAS G12D in cancer. Merck's upfront payment of $400 million was described as \"very large for a pre-clinical asset\" by Macquarie Capital's Tony Ren. Founded in 2024, SciBrunch specializes in small-molecule therapies for mature targets in oncology.\n\nChinese biotech drugs have gained global traction due to supportive domestic policies and reduced geopolitical concerns. Out-licensing deals between Chinese and US companies are anticipated to \"benefit from a high tide\" after the US Treasury reportedly abandoned restrictive plans, and China unveiled an ambitious five-year biomedicine development plan.",
  "summary": "Shares of Akeso surged after British drug maker AstraZeneca moved to advance the Chinese biotech firm’s flagship cancer drug, while a new deal from US giant Merck further underscored the sector’s global momentum amid easing fears of US curbs. AstraZeneca on Tuesday announced a US$2 billion equity investment in Florida-headquartered Summit Therapeutics, which holds the exclusive rights to develop…",
  "key_points": [
    "AstraZeneca invested $2 billion in Summit Therapeutics for ivonescimab development.",
    "Novo licensed Hengrui Pharmaceuticals' HRS-1596 to China for $2.6 billion.",
    "Merck agreed to pay up to $2.13 billion for SciBrunch Therapeutics' pre-clinical drug."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "SCMP Tech",
        "title": "AstraZeneca, Merck, Novo deals boost Chinese biotech as global interest grows",
        "url": "https://urgent.news/2026/09/29/astrazeneca-merck-novo-deals-boost-chinese-biotech-as-global-interest-10652517",
        "published": "2026-09-29T09:00:07.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}