AstraZeneca invests $2bn in cancer drug research tie-up
Summarised from 5 outlets · Updated 29 Sept, 22:32 · Archive
AstraZeneca is investing $2bn in US pharmaceutical company Summit Therapeutics to jointly develop and test cancer treatments.
AstraZeneca, the FTSE 100 drugs giant, is investing $2bn in US biopharmaceutical company Summit Therapeutics as part of a cancer research collaboration. The investment will see AstraZeneca purchase 109,000 shares in the Nasdaq-listed Summit at $18.36 per share. The two companies will collaborate on studies to jointly develop and test anti-cancer drugs, including testing how Summit's experimental medicines could be combined with AstraZeneca's existing cancer treatments.
How it is being reported
- AstraZeneca takes a £1.5bn stake in US cancer drug developer as it steps up investment in AmericaThe British drugs company has ploughed £1.5bn into US pharma firm Summit Therapeutics as part of a cancer treatment research joint venture.This is Money · 29 Sept, 22:01
- AstraZeneca invests £1.5bn into US firm Summit for cancer drug tie-upThe firms will collaborate on Summit’s experimental new medicine as well as researching how it could be combined with Astra’s treatments.Independent Business · 29 Sept, 09:20
- AstraZeneca invests £1.5bn into US firm Summit for cancer drug tie-upThe firms will collaborate on Summit’s experimental new medicine as well as researching how it could be combined with Astra’s treatments.Evening Standard · 29 Sept, 09:20
- Anthropic warns of ‘existential risks to humanity’ from AI; AstraZeneca makes $2bn cancer drug tie-up – business liveRolling coverage of the latest economic and financial news Pharmaceuticals news: AstraZeneca is investing $2bn in biopharmaceutical oncology company Summit Therapeutics, as part of a tie-up to jointly develop and test anti-cancer drugs. Announcing the deal, AstraZeneca says the two companies will collaborate on a series of studies testing their cancer treatments together. “A core pillar of our oncology strategy is to broaden the reach of our ADC portfolio as the backbone of treatment across tumour types with combinations alongside next-generation immunotherapies. Bispecifics targeting PD-1…Guardian Business · 29 Sept, 07:48
- Astrazeneca invests $2bn in cancer drug tie-upAstrazeneca has invested $2bn in US pharmaceutical firm Summit Therapeutics as part of a blockbuster cancer research tie-up. The FTSE 100 drugs giant has agreed to buy 109,000 shares in Nasdaq-listed Summit for $18.36 per share as part of the deal. The tie-up will see the two pharma giants collaborate on a series of studies [...]City AM · 29 Sept, 07:36
In this story: AstraZeneca · Summit Therapeutics · United States
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