AstraZeneca, Daiichi Sankyo partner with Summit to test cancer drug combination (updated)
UPDATE 1-AstraZeneca, Daiichi Sankyo partner with Summit to test cancer drug combination Adds executive comment in bullet 2, analyst comment in bullets 5 and 6
Oct 2 (Reuters) - Summit Therapeutics SMMT.O on Friday announced a clinical trial collaboration with AstraZeneca AZN.L and Daiichi Sankyo to test their cancer drug Datroway in combination with Summit's ivonescimab across multiple tumour types, including lung and breast cancers.
Here are more details:
The companies said that they intend to begin with a late-stage trial testing the therapies in first-line triple-negative breast cancer
"This collaboration represents an important expansion of Summit's global development program into breast cancer and a path for additional solid tumor settings," said Maky Zanganeh, co-CEO of Summit Therapeutics
The deal builds on AstraZeneca's $2 billion investment in Summit earlier this week to collaborate on a series of studies testing their cancer treatments together
Under the latest agreement, each company will contribute its respective medicine and share trial costs, while retaining development and commercial rights to their own drugs
The announcement provides further colour on the intentions for the Summit collaboration, Barclays analyst James Gordon said, adding that lung was a clear strength for ivonescimab and could partner well with AstraZeneca's lung portfolio
"While the collaboration formally begins with a phase three first-line triple-negative breast cancer study, we see the biggest potential opportunity in non-small cell lung cancer," Gordon said
(Reporting by Nithyashree R B and Sneha S K in Bengaluru; Editing by Mrigank Dhaniwala)
((NithyashreeRB@thomsonreuters.com))