Brief: Akeso Inc Announces Collaboration, License Agreement For Up To US $5 Bln With Summit Therapeutics

Akeso

06/12/2022 13:14

Dec 6 (Reuters) - Akeso Inc  9926.HK :
    * AKESO INC. ANNOUNCES COLLABORATION AND LICENSE AGREEMENT
FOR UP
TO US$5 BILLION WITH SUMMIT THERAPEUTICS TO ACCELERATE GLOBAL
DEVELOPMENT AND COMMERCIALIZATION OF ITS BREAKTHROUGH BISPECIFIC
ANTIBODY, IVONESCIMAB (PD-1/VEGF)
    * AKESO - CO TO OUT-LICENSE TO SUMMIT THERAPEUTICS EXCLUSIVE
RIGHTS TO IVONESCIMAB FOR DEVELOPMENT AND COMMERCIALIZATION IN
U.S., CANADA, EUROPE & JAPAN
    * AKESO - CO WILL RETAIN DEVELOPMENT AND COMMERCIALIZATION
RIGHTS
FOR REST OF WORLD INCLUDING CHINA
    * AKESO -  AKESO CEO DR. MICHELLE XIA WILL BE APPOINTED TO
BOARD
OF DIRECTORS OF SUMMIT THERAPEUTICS
    * AKESO - AKESO INC. TO RECEIVE $500 MILLION UPFRONT PAYMENT
AND
LOW DOUBLE-DIGIT PERCENTAGE OF ROYALTIES ON NET PRODUCT SALES OF
IVONESCIMAB

Source text for Eikon:  ID:nPn4F5lgPa 
Further company coverage:  9926.HK 
 ((Reuters.Briefs@thomsonreuters.com;))