Asia pharma deal roundup: AZ backs ivonescimab, Novo licenses Hengrui’s GLP-1/GIP drug, Merck targets KRAS

AstraZeneca is investing $2 billion in Summit Therapeutics to speed development of ivonescimab, a PD-1/VEGF bispecific, in combination with cancer drugs including ADCs. The first planned study pairs it with AstraZeneca’s CLDN18.2-targeted ADC, sonesitatug vedotin, in gastrointestinal cancers. The companies will share trial costs and retain rights to their own medicines.

Novo Nordisk licensed Hengrui Pharma’s phase 1-ready HRS-1596, an oral GLP-1/GIP dual agonist designed for potential once-weekly dosing. Novo will pay $300 million upfront, with potential milestones bringing the deal to $2.6 billion, for rights outside Greater China.

Merck’s KRAS move is a reported $2.1 billion deal with China-based SciBrunch to pursue KRAS G12D. It reflects continued pharmaceutical investment in Chinese drug-development assets; the available search results provide limited detail on the deal’s structure and program.