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Pfizer has signed a deal with Summit Therapeutics to assess the efficacy of Summit’s Keytruda-challenging ivonescimab in combination with several of its antibody-drug conjugates (ADCs).
Under the agreement, Summit will supply ivonescimab – an investigational PD-1/VEGF bispecific antibody – for the studies, while Pfizer will oversee study operations. Both companies will jointly supervise the trials and retain their respective product rights. The initiation of these studies is scheduled for mid-2025.
Following the announcement, Summit’s share price rose 2.6% at market open on 24 January. Shares in the company dropped soon after, however, on the back of increased net losses for 2024 reported on the same day.
The planned studies will evaluate the combination of ivonescimab with Pfizer’s vedotin-based ADCs in several solid tumour settings. ADCs have gained prominence in oncology, with numerous pharmaceutical companies pursuing collaborations and acquisitions to bolster their pipelines with the promising modality. Pfizer’s portfolio includes multiple ADCs, supported by its acquisition of ADC-focused company Seagen in March 2023 for $43bn.
Pfizer has made it clear that it is committed to advancing its oncology portfolio. At the JP Morgan Healthcare Conference last month, Pfizer CEO Albert Bourla highlighted oncology and metabolic diseases as key areas for innovation.
Summit hit the headlines in September 2024 when it reported that ivonescimab significantly reduced the risk of disease progression or death by 49% compared to MSD’s blockbuster Keytruda (pembrolizumab) in a Phase III trial involving patients with advanced non-small cell lung cancer (NSCLC). The trial, known as HARMONi-2 (NCT05499390), enrolled 398 patients in China with PD-L1-positive advanced NSCLC. Results demonstrated a median progression-free survival of 11.14 months for ivonescimab recipients versus 5.82 months for those on Keytruda. This marked the first instance of a therapy showing a statistically significant improvement over Keytruda in this patient population.
Keytruda, a PD-1 checkpoint inhibitor, generated $29.5bn in 2024, as per MSD’s financials. This revenue flow is expected to continue growing with GlobalData predicting that the blockbuster will pull in $34.9bn in 2028, the year in which key Keytruda patents are set to expire.
Summit acquired rights to ivonescimab in December 2022 through a $500m agreement with China-based Akeso, covering territories including the US and Europe. If approved, the antibody could generate up to $1.2bn in sales in 2030, as per GlobalData analysis.