AstraZeneca (AZN) is in talks regarding a potential partnership deal with Summit Therapeutics (SMMT) in which it could pay as much as $15B over time to license Summit’s ivonescimab lung-cancer treatment, people familiar with the matter told Bloomberg’s Michelle Davis and Dinesh Nair. Summit has also held discussions with other major pharmaceutical companies, the sources said.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SMMT:
- Summit Therapeutics in talks for $15B AstraZeneca partnership, Bloomberg says
- Summit Therapeutics trading halted, volatility trading pause
- Strategic Collaboration and Growth Potential Drive Positive Outlook for Summit Therapeutics
- Summit Therapeutics initiated with a Buy at UBS
- Revolution Medicines, Summit Therapeutics enter clinical collaboration