AstraZeneca (AZN) is in talks regarding a potential partnership deal with Summit Therapeutics (SMMT) in which it could pay up to$15B over time to license Summit’s ivonescimab lung-cancer treatment, people familiar with the matter told Bloomberg’s Michelle Davis and Dinesh Nair. Summit has also held discussions with other major pharmaceutical companies, the sources say. While terms are still being worked out, the consideration could include a several billion dollar upfront payment and several milestone payments that Summit could receive later, Davis and Nair write.
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