AstraZeneca invests $2 billion in Summit Therapeutics for 12% stake
Bitget2026/09/28 21:33- AstraZeneca agreed to invest USD 2 billion in newly issued equity in Summit Therapeutics to accelerate ivonescimab development.
- Purchase covers about 109,000 preferred shares convertible into common stock at a 1:1,000 ratio.
- Post-closing stake equals about 12.0% of Summit common stock outstanding, or about 10.6% on a fully diluted basis.
- Closing is expected within one week; any later conversion to common stock requires customary regulatory clearances.
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