AstraZeneca has completed its USD 2 billion equity investment in Summit Therapeutics, aimed at accelerating the development of ivonescimab, a bispecific antibody targeting PD-1 and VEGF, in combination with Antibody-Drug Conjugates (ADCs) across multiple tumour types.

As part of the collaboration, AstraZeneca and Summit Therapeutics have entered into a clinical collaboration to evaluate sonesitatug vedotin (Sone-Ve) in combination with ivonescimab. The companies also intend to establish an additional agreement to initiate a global development programme evaluating other AstraZeneca cancer medicines, including additional ADCs, in combination with ivonescimab.

Separately, AstraZeneca and Daiichi Sankyo have entered into a clinical collaboration with Summit to evaluate Datroway (datopotamab deruxtecan) in combination with ivonescimab across multiple tumour types, including lung and breast cancers.

The USD 2 billion investment and related clinical collaborations are expected to support the development of combination therapies involving ivonescimab and ADCs across a range of cancer indications. Further financial details are set out in the agreement announced in September 2026.