BUZZ — HK's Akeso rallies after AstraZeneca invests $2 billion in Summit, backs ivonescimab

* Shares of antibody drugs producer Akeso Inc jump 15.7% to HK$106.4, their biggest intraday pct gain since September 2024 * Stock hits its highest point since July 23 after falling for three consecutive sessions * Stock is top pct gainer in Hang Seng Biotech Index, which is up 1.3% * Summit Therapeutics said on Monday that British drugmaker AstraZeneca would invest $2 billion in the company and collaborate on a series of studies testing their cancer treatments together * The investment marks a major vote of confidence in ivonescimab, a next-generation cancer treatment licensed by Summit from China's Akeso * Summit and AstraZeneca also signed agreements to explore testing ivonescimab with several other AstraZeneca medicines, including its antibody-drug conjugates, a class of treatments that deliver cancer-killing drugs directly to tumor cells * YTD, Akeso stock down 6.3%, benchmark Hang Seng Index down 4.6% (Reporting by Donny Kwok) ((donny.kwok@thomsonreuters.com)