Summit Therapeutics and AstraZeneca are discussing a partnership deal worth as much as $15 billion, Bloomberg News reported Thursday, citing people familiar with the matter.

Under the potential deal, AstraZeneca could license Summit's experimental lung-cancer treatment, ivonescimab, the report said.

Summit did not immediately respond to Reuters request seeking comment, while an AstraZeneca spokesperson declined to comment.

A deal between the companies could include an upfront payment of several billion dollars to Summit and milestone payments later on, Bloomberg News said.