Summit Therapeutics Raises $500 Million in Private Placement
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Summit Therapeutics Inc. has raised approximately $500 million through a private placement of 26.68 million shares at $18.74 each. The funds will support the clinical development of ivonescimab and general corporate purposes. Company insiders invested $272 million, with Akeso, Inc. contributing $10 million. The remaining $218 million came from various biopharma investors. Summit will file a registration statement with the SEC for share resale.
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