Summit Therapeutics conducts advanced talks with AstraZeneca about a possible partnership worth up to $15 billion according to sources who have knowledge of the situation. The proposed agreement would allow AstraZeneca to develop and market ivonescimab as a lung cancer treatment while Summit Therapeutics would receive multiple billion-dollar payments.
AstraZeneca would obtain development and commercial rights to the therapy through the proposed agreement while Summit would receive multiple billion-dollar payments at the start and additional payments based on development milestones according to Bloomberg News.
Both companies maintain silence about the negotiations but AstraZeneca chose not to respond to the matter. Summit has not issued a statement.
Through this deal AstraZeneca would make a significant investment in next-generation oncology treatments to enhance its immunotherapy business. Ivonescimab stands as one of Summit’s leading candidates because it uses dual-action antibodies to fight challenging cancer types.
The completed partnership would become one of the largest in Summit’s history while transforming its business operations. The company faces investor pressure to expand its development activities while controlling expenses so a partnership with AstraZeneca would help speed up its development timeline.
The proposed partnership demonstrates how pharmaceutical companies are actively seeking significant oncology assets because they need to prepare for upcoming patent expirations and declining revenue from aging products.
