Akeso and Summit’s ivonescimab extended survival in a China-based Phase 3 study in previously untreated squamous NSCLC, delivering a 34% risk reduction in death versus standard immunotherapy plus chemotherapy. The results were presented at ASCO and published simultaneously in The Lancet. Ivonescimab is a PD-1/VEGF-targeting bispecific designed to combine checkpoint blockade with anti-angiogenic activity. In the trial conducted entirely in China, the companies framed the outcome as exceeding expectations, while the readout is likely to intensify scrutiny around how China-only evidence will translate into global development strategies. Summit positioned the asset as an early-stage commercial opportunity, with co-CEO Robert Duggan citing the data as indication of “a very valuable business” for a program moving outside China. The broader takeaway for the field is that competitive differentiation in next-generation bispecifics remains tightly linked to overall survival choices and study design. The pairing of Akeso’s China execution and Summit’s planned expansion outside China is likely to be closely watched as regulators and clinicians weigh whether similar magnitude of benefit can be reproduced in multinational trials.