December 2022 Top Biopharma Deal: Akeso – Summit for Cancer Drug Ivonescimab
Highlighted Deal Financial Comps
Total Deal Value:
Cost & Profit Split:
- Akeso granted Summit exclusive rights to develop and commercialize Akeso’s PD-1 / VEGF bispecific antibody ivonescimab for the treatment of cancer including non-small cell lung cancer (NSCLC) in the U.S., Canada, Europe, and Japan. Akeso will retain rights to ivonescimab for the rest of the world, including China.POINT will be responsible for the funding, development, and manufacturing of PNT2002 and PNT2003 while Lantheus will be responsible for NDA approval and development and commercial expenses.
- Summit signed a supply agreement to purchase certain drug substances for clinical and commercial use.
- Akeso will receive $500M up front ($300M within 15 days or expiry of waiting periods and $200M within 90 days) and is eligible for up to $4.5B in regulatory and commercial milestones, plus low double-digit royalties.
DealForma’s Deal of the Month selection is based on the largest disclosed upfront cash and equity total in partnership deals involving R&D as announced in the month prior to this article. Data for this analysis was compiled using the DealForma biopharma deals database. All data are based on publicly disclosed figures and deal terms.
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