Amid the U.S.-China technology power struggle expanding into the biotech field, a Chinese bio company is outperforming the U.S. drug sales leader in global revenue, increasing tension in the industry. There are also forecasts that the next wave of the 'DeepSeek shock,' which shook the world with high-performance AI model development at low expense, will be in biotech.
The Hong Kong South China Morning Post (SCMP) reported on the 16th that Akesobio, a Chinese company, introduced its lung cancer drug candidate ivonescimab at the National People's Congress and Chinese People's Political Consultative Conference earlier this month, invigorating the atmosphere in the Chinese industry. SCMP analyzed that Akesobio's cancer drug development has triggered a 'second DeepSeek shock.'
Ivonescimab is a dual antibody cancer drug targeting lung cancer patients, acquired from Akesobio by Summit Therapeutics in 2022. At that time, Summit secured the rights to develop and commercialize ivonescimab in the U.S., Canada, Europe, and Japan for a deal that included a $500 million (670 billion won) down payment, for a total up to $5 billion (6.7 trillion won). Akesobio was established in 2012 in Zhengshan, Guangdong Province, and has grown with support from local government in the form of rent, subsidies, and equipment.
According to the phase 3 clinical trial results of ivonescimab presented by Summit at the World Conference on Lung Cancer (WCLC) in September 2024, ivonescimab reduced the risk of tumor progression by 49% compared to Merck's (MSD) immunotherapy drug Keytruda. Patients treated with Keytruda took an average of 5.8 months before their cancer relapsed, while those treated with ivonescimab took an average of 11.1 months, nearly doubling the timeframe. This phase 3 clinical trial was conducted on over 400 patients with treatment-naive progressive non-small cell lung cancer.
Keytruda, launched in 2014, is a representative blockbuster drug that achieved the highest global drug sales in 2023 and 2024. It was approved by the U.S. Food and Drug Administration (FDA) for use in all solid tumors in 2023.
The reason cancer cells spread in the body is due to a protein called 'PD-1.' Cancer cells use PD-1 to disguise themselves as normal cells, evading attacks from immune cells (T cells). Keytruda blocks this PD-1, helping immune cells attack cancer cells. It is considered an immunotherapy drug because it enhances the ability of immune cells to attack without directly destroying the cancer cells.
Ivonescimab is a dual antibody designed to attach to two different molecules, preventing the growth of cancer cells while simultaneously enhancing immune cells. Ivonescimab targets the PD-1 protein, which inhibits T cell function, and vascular endothelial growth factor (VEGF), which promotes the growth of blood vessels supplying oxygen and nutrients to cancer cells.
On the 12th, the Chinese venture capital fund Frees Fund projected in a report that if the efficacy of Akesobio's new drug is validated in more clinical trials, China could advance 3 years ahead in the PD-1 field, which it had lagged by 5 years behind the U.S.