Summit Therapeutics Inc (SMMT) said Monday it will collaborate with Pfizer (PFE) on a set of clinical trials to evaluate ivonescimab, its investigational drug, in combination with several Pfizer antibody drug conjugates to treat multiple solid tumors.

Financial terms were not disclosed.

Under the agreement, Summit will provide ivonescimab, while Pfizer will conduct the studies, which are planned to begin mid-2025 and will be overseen by both companies.

Each study will evaluate ivonescimab in combination with one of Pfizer's vedotin ADCs in distinct solid tumor settings to determine the safety profile and potential tumor-fighting ability of the combinations.

Summit shares were up 5% in recent premarket activity.