AstraZeneca, Merck, Novo deals boost Chinese biotech as global interest grows
Deals involving novel cancer therapies and weight-loss drugs reinforce the growing global appeal of Chinese biotech innovation
AstraZeneca on Tuesday announced a US$2 billion equity investment in Florida-headquartered Summit Therapeutics, which holds the exclusive rights to develop and commercialise Akeso’s immunotherapy drug ivonescimab outside China.
Cui Cui, head of Asia healthcare research at Jefferies, said in a note on Tuesday that the partnership “further strengthened” the investment bank’s conviction that ivonescimab could become a foundational immunotherapy treatment when used alongside other medicines.
