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Finance Watch: Summit Raises $500m For Shift From Anti-Infectives To Oncology

Proceeds Will Repay Debt, Fund Phase III Trials

Executive Summary

Public Company Edition: Summit initiated the big rights offering earlier this year as promised in December when it licensed Akeso’s PD-1/VEGF bispecific. Also, Teva sold $2.49bn in sustainability-linked notes to pay down debt, while MorphoSys, Novavax and others restructured and cut jobs.

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