AstraZeneca invests $2 billion in Summit to test cancer drug combinations

AstraZeneca will invest $2 billion in Summit Therapeutics and work with the company to test cancer drug combinations, according to reports. The partners will initially study Summit’s ivonescimab with AstraZeneca’s antibody-drug conjugate sonesitatug vedotin, also called sone-ve, in gastrointestinal cancers.

The companies will jointly fund the clinical trials and retain development and commercial rights to their respective drugs, according to the reports. They also signed a nonbinding agreement to consider testing ivonescimab with other AstraZeneca cancer medicines, including other antibody-drug conjugates. The initial trials are expected to be sponsored by AstraZeneca, MedCity News reported.