AstraZeneca CEO Pascal Soriot announced on Monday that Summit Therapeutics’ lead investigational drug, ivonescimab, could help power next-generation cancer treatment combinations that represent the “future of cancer care,” CNBC reported. Soriot’s comments during an exclusive interview follow a $2 billion equity investment and clinical collaboration between AstraZeneca and Summit to test potential cancer drug combinations. The deal, which is expected to close by the end of the week, involves the purchase of 109,000 shares in the Nasdaq-listed firm.
AstraZeneca Invests $2 Billion in Summit Therapeutics for Ivonescimab Collaboration
The $2 billion investment gives AstraZeneca a 12 per cent shareholding of Summit’s outstanding stock, according to company announcements. Rather than executing an outright acquisition, AstraZeneca agreed to purchase preferred shares, allowing Summit to retain the development and commercial rights to its own therapies. The share purchase price of $18.36 per share represented a 18.6 per cent premium over Summit’s closing price of $15.48 on Monday, sending shares in the US-listed firm up significantly in trading. After-hours trading saw Summit shares climb more than 15 per cent, while AstraZeneca shares rose 1.4 per cent to 12,664p in early trading.
At the center of the collaboration is ivonescimab. The drug blocks proteins which help cancer evade the immune system and grow blood vessels. By blocking both, the medication aims to unleash the body’s immune system while cutting off the blood supply tumors require to grow. Summit licensed the treatment from Akeso, a drugmaker in China.
Comparing Ivonescimab to Existing First-Generation Immunotherapies
Soriot described ivonescimab as a “next generation” therapeutic following an initial wave of drugs that target solely PD-1, such as Merck’s immunotherapy Keytruda. He explained that ivonescimab is “very exciting because it can help address a certain number of tumor types that can be better treated in combination with antibody-drug conjugates, better treated than with existing first-generation PD-1 agents.”
Building on that clinical momentum, AstraZeneca and its Japan-based partner Daiichi Sankyo announced an expanded clinical collaboration with Summit Therapeutics. The partnership will evaluate ivonescimab in combination with Datroway, a TROP2-directed antibody-drug conjugate (ADC) jointly developed by AstraZeneca and Daiichi Sankyo, across multiple solid tumors including breast and lung cancers. The collaboration will initially focus on a Phase III study in first-line triple-negative breast cancer. The companies will share the costs of the studies, with either AstraZeneca or Daiichi serving as the sponsor.
Datroway, developed with Sapporo Medical University, uses a humanised anti-TROP2 IgG1 monoclonal antibody attached to topoisomerase I inhibitor payloads via tetrapeptide-based cleavable linkers. It is approved in over 30 countries for certain patients with triple-negative breast cancer and in over 45 countries for adult patients with unresectable or metastatic HR-positive, HER2-negative breast cancer who had previous chemotherapy and endocrine-based therapy. It is also approved in the US and other nations for adult patients with metastatic or locally advanced EGFR-mutated non-small cell lung cancer who received platinum-based chemotherapy and EGFR-directed therapy. Beyond the Summit tie-up, AstraZeneca will test ivonescimab with other ADCs, including sonesitatug vedotin, for gastrointestinal cancers.
Expanding Research Facilities With Robotics and AI
Soriot discussed the partnership from a site where AstraZeneca officially opened a new research and development facility. Spanning 570,000 square feet, the site will house scientists dedicated to developing next-generation treatments for obesity, breast cancer, COPD and rare diseases to drive company growth beyond 2030.
AstraZeneca stated that about 20% of the investment in the site is dedicated to robotics and AI. Soriot mentioned that the goal of these technological integrations is to utilize AI for the faster invention of new medicines and to employ robotics to streamline and speed up the discovery and development of molecules, specifically during the preclinical phase. He said the use of agentic AI and continuous automation leads to lower research costs and better products for patients.
Frequently Asked Questions About the AstraZeneca and Summit Therapeutics Partnership
What financial stake does AstraZeneca hold in Summit Therapeutics following the deal?
AstraZeneca holds a 12 per cent shareholding of Summit’s outstanding stock through an investment valued at $2 billion, executed via preferred shares priced at $18.36 per share.
Does Summit Therapeutics retain the commercial rights to ivonescimab?
Yes. Because the transaction is an equity investment rather than an outright acquisition, Summit retains the development and commercial rights to its own therapies.
What are the primary biological targets of ivonescimab?
Ivonescimab blocks proteins which help cancer evade the immune system and grow blood vessels.
Which additional partner is involved in the clinical trials evaluating Datroway and ivonescimab?
Daiichi Sankyo is collaborating with AstraZeneca and Summit Therapeutics to evaluate the combination of ivonescimab and Datroway across multiple tumor types. AstraZeneca and Daiichi Sankyo began their global collaboration to develop Datroway in July 2020, though Daiichi Sankyo keeps exclusive rights in Japan.