AstraZeneca closes $2 billion equity stake in Summit Therapeutics

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Go back to AstraZeneca closes $2 billion equity stake in Summit Therapeutics

AstraZeneca Completes $2 Billion Equity Investment in Summit Therapeutics

October 5, 2026 7:00 AM EDT

MIAMI--(BUSINESS WIRE)-- Summit Therapeutics Inc. (NASDAQ: SMMT) today announced the successful closing of AstraZenecas (LSE/STO/NYSE: AZN) strategic equity investment in Summit. The equity investment will support continued acceleration of the development of ivonescimab, a novel, potential first-in-class investigational PD-1 / VEGF bispecific antibody.

Pursuant to the terms of the Securities Purchase Agreement entered into by Summit and AstraZeneca, AstraZeneca purchased an aggregate of approximately 108,955 shares of preferred stock convertible into shares of common stock of Summit at a 1:1,000 ratio. The investment by AstraZeneca totaled... More