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AstraZeneca bets $2bn on Summit’s cancer drug

AstraZeneca is investing 2 billion dollars in US-based Summit Therapeutics to accelerate the development of the cancer drug ivonescimab in combination with antibody-drug conjugates, or ADCs.
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The companies are also entering into a clinical collaboration to evaluate ivonescimab in combination with AstraZeneca’s sonesitatug vedotin (Sone-Ve). The first studies will focus on gastrointestinal cancers.

Ivonescimab was developed by Chinese company Akeso, which has licensed rights outside China to Summit. The drug is already approved in China for certain patients with lung cancer, while an application for approval in the US for a specific group of lung cancer patients is under review by the FDA.

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