HK's Akeso rallies after AstraZeneca invests $2 billion in Summit, backs ivonescimab

AstraZeneca

29/09/2026 06:22

** Shares of antibody drugs producer Akeso Inc 9926.HK jump 15.7% to HK$106.4, their biggest intraday pct gain since September 2024 
** Stock hits its highest point since July 23 after falling for three consecutive sessions
** Stock is top pct gainer in Hang Seng Biotech Index .HSBIO, which is up 1.3%
** Summit Therapeutics SMMT.O said on Monday that British drugmaker AstraZeneca AZN.L would invest $2 billion in the company and collaborate on a series of studies testing their cancer treatments together
** The investment marks a major vote of confidence in ivonescimab, a next-generation cancer treatment licensed by Summit from China's Akeso 
** Summit and AstraZeneca also signed agreements to explore testing ivonescimab with several other AstraZeneca medicines, including its antibody-drug conjugates, a class of treatments that deliver cancer-killing drugs directly to tumor cells
** YTD, Akeso stock down 6.3%, benchmark Hang Seng Index .HSI down 4.6%



 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))