Announced Date: 2022-12-06 (December 06, 2022)
Asset Name: Ivonescimab (AK112, SMT112)
Licensor: Akeso Inc. (China)
Licensee (Buyer): Summit Therapeutics Inc. (US)
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Asset Modality: BsAbs （Bispecific antibody）
Asset Target: PD-1 and VEGF
Potential Indication: non-small cell lung cancer (NSCLC)
Current Stage: Phase 2
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Scope of Authority:
Summit will receive the rights to develop and commercialize ivonescimab (SMT112) in the United States, Canada, Europe, and Japan.
Akeso will retain development and commercialization rights for the rest of the regions including China.
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Paymenet Detail:
Upfront payment of $500 million,
Regulatory and commercial milestones of up to $4.5 billion,
Total potential deal value is $5.0 billion.
Low double-digit royalties on net sales.
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