AstraZeneca has made a $2bn strategic equity investment in Summit Therapeutics, which is based in the US and at Milton Park. The investment gives AstraZeneca a stake of roughly 12%.
The two companies have also agreed a clinical collaboration on Summit’s ivonescimab and sonesitatug vedotin (sone-ve). This includes testing ivonescimab alongside other AstraZeneca cancer medicines, including antibody drug conjugates. Separately, Summit has agreed a clinical trial collaboration with Daiichi Sankyo and AstraZeneca to evaluate ivonescimab.
Summit’s Oxfordshire operations focus on biomedical research, clinical operations and technical management.
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Image courtesy of AstraZeneca.