AstraZeneca Broadens Oncology Portfolio Through Summit Deal -- Market Talk

0548 GMT - AstraZeneca's agreement with Summit Therapeutics will help the U.K. drugmaker broaden its immuno-oncology portfolio without going all-in, RBC Capital Markets analysts say in a research note. AstraZeneca is investing $2 billion in the Miami-based biotech and entering into a research collaboration centered on ivonescimab, Summit's experimental cancer drug that blocks two proteins--called PD-1 and VEGF--that help tumors grow and evade the immune system. AstraZeneca's investments in this space lacked a so-called PD-1xVEGF asset like ivonescimab, RBC says. Each company retains its development and commercial rights for their assets, which likely signals AstraZeneca believes its own approaches are superior to PD-1xVEGF, the analysts say. Nevertheless, the deal leaves the door open for a potential expansion with Summit in the future, they add. (adria.calatayud@wsj.com)

(END) Dow Jones Newswires

September 29, 2026 01:49 ET (05:49 GMT)