Developing bispecific antibodies that target two proteins, namely PD-1 and VEGF, has been one of the lucrative areas in the treatment of cancer of late. Companies like BioNTech BNTX and Instil Bio TIL are also developing their respective PD-1/VEGF-targeting antibody candidates, namely BNT327 and AXN-2510.
Despite the competition, we believe Summit enjoys the advantage of being ahead in clinical development over the BioNTech and Instil Bio therapies. The BNTX and TIL candidates are still at least a couple of years away from reaching the same clinical development position as SMMT.
In November, Merck signed a deal with China-based LaNova Medicines for the latter’s LM-299, which is also based on the same mechanism as ivonescimab. Merck intends to advance the drug's clinical development “with speed and rigor for patients in need.”
https://finviz.com/news/23133/heres-why-summit-therapeutics-stock-soared-15-on-friday
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