AstraZeneca CEO says Summit drug could drive next generation of cancer combinations after $2 billion investment
Pascal Soriot spoke exclusively with CNBC from the site of AstraZeneca's new $1 billion R&D facility in Kendall Square in Cambridge, Massachusetts.
TL;DR
- AstraZeneca invested $2 billion in Summit Therapeutics for a clinical collaboration focused on cancer drug combinations.
- Summit's lead drug, ivonescimab, is a bispecific antibody targeting PD-1 and VEGF to attack cancer.
- Ivonescimab has shown superior performance to Keytruda in advanced non-small cell lung cancer trials.
- AstraZeneca sees potential in combining ivonescimab with its antibody-drug conjugates.
- AstraZeneca also announced the opening of a new $1 billion R&D facility in Cambridge, Massachusetts, utilizing AI and robotics for faster drug discovery.