{"schema_version":"secwatch.filing_event.v1","accession":"0001599298-22-000136","form_type":"8-K","ticker":"SMMT","cik":"0001599298","company_name":"Summit Therapeutics Inc.","filed_at":"2022-12-06T23:59:59+00:00","discovered_at":"2026-05-14T18:03:51.357357+00:00","generated_at":"2026-06-21T08:54:48.187188+00:00","sec_items":["1.01","8.01","2.01","5.02","9.01"],"event_type":"other_material","sentiment":"positive","materiality_score":0.95,"calibrated_materiality_score":0.95,"confidence":"high","headline":"Summit Therapeutics Signs $5B License Deal with Akeso for Bispecific Antibody Ivonescimab","bullets":["Summit pays Akeso $500M upfront ($300M due after HSR clearance, $200M within 90 days) plus up to $4.5B milestones for ivonescimab rights in US, Canada, Europe, Japan.","Robert Duggan and Maky Zanganeh lend Summit $520M via unsecured promissory notes at 7.5% interest maturing Feb and Sept 2023, extendable to Sept 2024.","Summit board approves $500M rights offering to stockholders with subscription price at lesser of $1.05 or 5-day VWAP; Duggan and Zanganeh intend to participate.","Dr. Michelle Xia, co-founder and CEO of Akeso, appointed to Summit's board effective upon antitrust clearance.","Summit plans to start clinical studies for SMT112 (ivonescimab) by Q2 2023, initially in non-small cell lung cancer."],"urls":{"canonical":"https://secwatch.observer/filing/0001599298-22-000136","json":"https://secwatch.observer/filing/0001599298-22-000136.json","markdown":"https://secwatch.observer/filing/0001599298-22-000136.md","text":"https://secwatch.observer/filing/0001599298-22-000136.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1599298/000159929822000136/0001599298-22-000136-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1599298/000159929822000136/smmt-20221205.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-21T08:54:48.187188+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"aaac449791","claim":"Dr. Yu (Michelle) Xia was elected as director at Summit Therapeutics Inc..","evidence_excerpt":"the Board unanimously approved the election of Dr. Yu (Michelle) Xia as a director of the Company, effective upon the Antitrust Clearance Date.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1599298/000159929822000136/0001599298-22-000136-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"elected"},{"label":"Role","value":"director"}],"fact_type":"executive_change"},{"claim_id":"0a58b66eea41f6a3a99f597b65ffd55c65499fc4","claim":"Summit Therapeutics Inc. entered into Collaboration and License Agreement with Akeso, Inc. and its affiliates valued at upfront payment of $500 million (effective 2022-12-05).","evidence_excerpt":"On December 5, 2022, Summit Therapeutics Inc. (the “Company” or “Summit”) entered into a Collaboration and License Agreement (the “License Agreement”) with Akeso, Inc. and its affiliates (“Akeso”) and certain ancillary transaction documents as set forth in the License Agreement.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1599298/000159929822000136/0001599298-22-000136-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"license"},{"label":"Counterparty","value":"Akeso, Inc. and its affiliates"},{"label":"Value","value":"upfront payment of $500 million"},{"label":"Effective","value":"2022-12-05"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}