Pharma giants join forces in battle against cancer

By the Editorial Team · Wednesday, September 30, 2026

AstraZeneca has invested $2 billion in Summit Therapeutics to jointly develop and trial the cancer drug ivonescimab alongside its own oncology treatments. This collaboration aims to accelerate clinical progress and potentially expand treatment options for multiple cancers, with key FDA decisions and upcoming trial data expected to influence the therapy’s future.

AstraZeneca has agreed to invest $2 billion in the US-based pharmaceutical company Summit Therapeutics as part of a strategic collaboration focused on developing cancer treatments. The deal, announced late Monday, gives the FTSE 100-listed company a 12 percent stake in Summit, which is listed on Nasdaq. The investment is intended to accelerate the development and clinical trials of Summit’s experimental cancer drug, ivonescimab, in combination with AstraZeneca’s own oncology therapies.

Ivonescimab is an antibody designed to block proteins that help cancer evade the immune system and promote tumor blood vessel growth. The drug was originally developed by Chinese pharmaceutical firm Akeso and is already approved for use in China. Summit holds the rights for development and commercialization of ivonescimab in the United States, Europe, and other global markets. The US Food and Drug Administration is expected to announce a decision by November on whether to approve ivonescimab in combination with chemotherapy for a form of lung cancer.

Under the collaboration, AstraZeneca and Summit will jointly conduct clinical trials combining ivonescimab with AstraZeneca’s antibody drug conjugate (ADC) portfolio, including the experimental drug sonesitatug vedotin (Sone-Ve). Initial combination trials are set to begin soon, focusing on gastrointestinal cancers. Both companies will share the costs of these studies and retain their respective development and commercial rights for their medicines.

AstraZeneca Executive Vice President of Oncology Susan Galbraith described the partnership as an opportunity to enhance treatment regimens and improve outcomes for cancer patients across multiple tumor types. Summit’s co-CEO Dr. Maky Zanganeh called the collaboration "an exciting new chapter" in advancing ivonescimab’s potential to address cancer more effectively.

The investment reflects AstraZeneca’s broader strategy to strengthen its presence in the US market, where it anticipates half of its revenues will originate by 2030. This move follows Chief Executive Pascal Soriot’s emphasis on pursuing smaller, strategic deals rather than large mergers and acquisitions. Analysts have viewed the deal as a calculated step that allows AstraZeneca to gain exposure to a promising new therapy without the risks associated with a full acquisition.

Following the announcement, Summit’s shares surged by nearly 18 percent in after-hours trading, while AstraZeneca’s shares experienced a slight decline after reaching a two-month high earlier in the day. Industry watchers see the partnership as a potential platform for future innovation in cancer treatment, combining next-generation immunotherapies with established drug classes to address unmet medical needs. AstraZeneca is also preparing forthcoming data presentations on Sone-Ve for advanced gastric cancers at the upcoming European Society for Medical Oncology Congress.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.