AstraZeneca Makes $2B Equity Investment in Summit Therapeutics

Editor’s Take: Investments and collaborations such as these can help broaden development plans and initiate new clinical trials.

AstraZeneca is making a $2 billion equity investment in Summit Therapeutics, while entering a clinical collaboration with the oncology company.

The clinical partnership focuses on Summit’s ivonescimab, a novel, potential first-in-class investigational bispecific antibody. This combines effects of immunotherapy via a blockade of programmed death cell protein 1 (PD-1) with anti-angiogenesis effects. Regarding the latter, these are associated with blocking vascular endothelial growth factor (VEGF). Ivonescimab brings this all under a single molecule.

Together, AstraZeneca and Summit plan to evaluate ivonescimab with an additional set of AstraZeneca cancer medicines. This includes other antibody-drug conjugates (ADCs).

The collaboration also plans to investigate the utility of sonesitatug vedotin (sone-ve).

Investment a Validation of Summit Molecule

Summit Chairman and Co-CEO Robert Duggan called the investment and collaboration a “powerful validation of the potential of ivonescimab.” Meanwhile, President and Co-CEO Maky Zanganeh, DDS, says a growing body of evidence supports ivonescimab’s differentiated PD-1/VEGF bispecific approach.

“We look forward to further broadening the development plan of ivonescimab and initiating new clinical trials,” Zanganeh said. Among potential uses, Zanganeh continued, is combining ivonescimab with novel anti-cancer compounds, including ADCs. This would unite complementary approaches in tumor-cell killing, antitumor immunity, and the tumor microenvironment.

AstraZeneca Executive Vice President, Oncology Hematology R&D Susan Galbraith notes bispecifics targeting PD-1 and VEGF are “rapidly advancing in development.”

“Our oncology strategy is to broaden the reach of our ADC portfolio as the backbone of treatment,” Galbraith said. “This opportunity to combine ivonescimab with AstraZeneca’s ADC portfolio, including with sone-ve, could enable new regimens that raise the bar.”

AstraZeneca to Sponsor Studies

In the agreement, both AstraZeneca and Summit will contribute their respective compound in order to conduct combination studies. AstraZeneca sponsors the studies, but both parties hold responsibility for costs.

Each company retains development and commercial rights for their respective molecules.