AstraZeneca, Summit in discussions over USD 15 billion cancer drug licensing deal: Report
Bengaluru: AstraZeneca is reportedly in discussions with Summit Therapeutics to license an experimental lung cancer drug in a deal that could be worth up to USD 15 billion, according to a Bloomberg News report, citing sources familiar with the matter.
The deal centers on ivonescimab that Summit secured rights to in December 2022 through a separate deal with China-based Akeso valued at up to $5 billion.
A deal could include an upfront payment of several billion dollars to Summit, besides milestone payments later on, Bloomberg News said. The talks could still fall apart or Summit could opt for a different partner for licensing, according to the report.
Summit is testing ivonescimab to treat patients with a type of lung cancer who have received prior treatment. The drug has already been approved in China in May last year, and Summit plans to file for marketing approval in the United States, as per Reuters.
In a late-stage study, ivonescimab, in combination with chemotherapy, showed a positive trend in overall survival, but "without achieving a statistically significant benefit," the company said in May.
An earlier data last year had shown some lung cancer patients having better survival rates on the drug than those on Merck's blockbuster Keytruda.
Summit and Akeso were testing ivonescimab-chemotherapy regime in a study conducted in China, against BeiGene's approved drug Tevimbra in combination with chemotherapy.
Meanwhile, AstraZeneca continues to expand its oncology and research portfolio. In June, AstraZeneca entered a strategic research collaboration with Shijiazhuang City-based CSPC Pharmaceuticals Group Limited.
In March, Harbour BioMed, a global biopharmaceutical company collaborated with AstraZeneca to discover and develop next-generation multi-specific antibodies for immunology, oncology and beyond. The strategic collaboration included an option to license multiple programs utilizing Harbour BioMed's proprietary Harbour Mice fully human antibody technology platform in multiple therapeutic areas and a $105 million equity investment by AstraZeneca in Harbour BioMed.
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