Summit Therapeutics Partners with Akeso Inc. in Deal for Up to $5 Billion to In-License Breakthrough Innovative Bispecific Antibody Ivonescimab

“The partnership between Summit Therapeutics and Akeso is a strategically compelling opportunity,” stated Robert W. Duggan, Chairman and Chief Executive Officer of Summit. “It represents bringing together Akeso’s extraordinary team, which has built an innovation engine capable of creating novel bispecific technologies, and the talented members of Team Summit with their proven track record of success of global clinical development, regulatory approvals, and commercialization, particularly in oncology. We believe the potential exists for enormous creation through this partnership. We are extremely encouraged by ivonescimab and the potential for improving the quality and duration of patients’ lives based on clinical data to support this point. Team Summit is honored and enthusiastic to partner with Akeso. Our shared mission and vision is to create a significant difference for the betterment of patient healthcare outcomes around the world.”