Summit Therapeutics Secures $2 Billion Investment From AstraZeneca
MT newswire2026/10/05 11:3107:31 AM EDT, 10/05/2026 (MT Newswires) -- Summit Therapeutics (SMMT) said Monday that AstraZeneca (AZN) has closed a $2 billion strategic equity investment in the company. AstraZeneca purchased 108,955 Summit preferred shares that can be converted into common stock at a 1:1,000 ratio, the company said. At the conversion ratio, the investment represents a common share price of $18.36, Summit said. The investment will support development of Summit's ivonescimab, a PD-1/VEGF bispecific antibody.
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