Summit Therapeutics and AstraZeneca Enter $2B Strategic Investment and Oncology Collaboration

Shots: AstraZeneca will invest $2B in Summit through convertible preferred shares, representing a conversion price of $18.36/share, while the companies will collaborate on the development of ivonescimab & sonesitatug vedotin (sone-ve). The clinical collaboration will evaluate ivonescimab with sone-ve in GI cancers, with studies expected to begin soon. Companies will share study costs, while each retains rights to its respective molecule Summit & AZ also signed a non-binding, mutually non-exclusive MOU to explore ivonescimab with additional AZ cancer medicines, incl. ADCs, with shared clinical development costs & each company retaining rights to its respective assets Ref: Businesswire  |   Image: AstraZeneca & Summit  |  Press Release PharmaShots, your go-to media platform for customized news ranging across multiple indications. For more information, connect with us at connect@pharmashots.com The post Summit Therapeutics and AstraZeneca Enter $2B Strategic Investment and Oncology Collaboration appeared first on PharmaShots.