Akeso’s ivonescimab, developed with Summit Therapeutics, delivered a 34% death-risk reduction in previously untreated squamous non-small cell lung cancer in a China-based trial. The results, presented at ASCO and published in The Lancet, showed ivonescimab plus standard regimen improvements over standard immunotherapy plus chemotherapy, with oncologists calling the outcome stronger than expected. The study’s design and geographic scope are likely to influence how the asset is positioned as it moves into development beyond China. Summit co-CEO Robert Duggan characterized the program as an early-stage opportunity with significant commercial value. The data also broaden the competitiveness of PD-1/VEGF inhibitor strategies that are being tested across first-line NSCLC settings. Investors and trial designers will likely focus on how to translate the China results into global efficacy and regulatory paths as the class expands.