AstraZeneca, Daiichi Sankyo Expand Cancer Push Through Summit Partnership

AstraZeneca, Daiichi Sankyo, and Summit Therapeutics will collaborate to test the combination of Datroway and ivonescimab in cancer trials, including a Phase III study for triple-negative breast cancer. AstraZeneca recently invested $2bn in Summit, gaining a 12% stake. Ivonescimab is under US regulatory review for NSCLC, with a PDUFA date of 14 November.

Novartis entered a licensing agreement with Abogen for RNA-encoded therapeutic Abo2203, paying $575M upfront and up to $7.2B in milestones. AstraZeneca and Daiichi Sankyo partnered with Summit Therapeutics to test Datroway with ivonescimab in cancer trials. PwC predicts $300B in pharma M&A this year.

Sanofi & Regeneron expanded their immunology partnership for up to $8B. Novo Nordisk acquired rights to a drug from Hengrui Pharma for up to $2.6B. Telix Pharmaceuticals to acquire ITM Isotope for up to $2.35B. Merck licensed a cancer drug from SciBrunch for up to $2.13B. Genentech partnered with Earendil Labs for up to $1.5B. GSK acquired a hepatic program from Wave Life Sciences. Lundbeck may acquire Xeris Biopharma.

Summit Therapeutics (SMMT) announced a clinical collaboration with AstraZeneca (AZN) and Daiichi Sankyo to test its cancer therapy, Ivonescimab, in a Phase 3 trial for triple-negative breast cancer. The companies will share trial costs. Summit's shares rose 1.5% in pre-market trading. The FDA is set to decide on Ivonescimab for lung cancer on Nov. 14. Summit has $690.7 million in cash and raised $68 million this quarter. Barclays raised Summit's price target to $20.

AstraZeneca, Daiichi Sankyo, and Summit Therapeutics will test their cancer drugs, Datroway and ivonescimab, in combination. They plan a Phase III trial for triple-negative breast cancer, following AstraZeneca's $2 billion investment in Summit. Each company will share trial costs and retain their own drug rights.

Novartis agreed to pay up to $7.8 billion for global rights to a Chinese biotech's mRNA therapy, including $575 million upfront. The deal aims to offset patent expirations and clinical trial setbacks. Other Western drugmakers, like Novo and GSK, are also securing Chinese drug assets. China's regulatory reforms and innovation speed are driving these deals, with ING projecting $250 billion in Chinese biotech outlicensing by 2026.