Capturing next-gen immuno-oncology therapies: Buy Akeso, new Buy 3SBio

研报英文原文证据摘录

Capturing next-gen immuno-oncology therapies: Buy Akeso, new Buy 3SBio

I/O 2.0: well positioned to capture PD-(L)1

market share

PD-(L)1/VEGF mechanism

PD-(L)1/VEGF bispecific antibodies represent a next-generation immuno-oncology

modality (I/O 2.0) designed to target two complementary cancer pathways

simultaneously. PD-(L)1 is an immune checkpoint that tumors exploit to evade immune

surveillance, while VEGF promotes tumor angiogenesis and contributes to an

immunosuppressive tumor microenvironment. Unlike established ‘I/O 1.0’ therapies such

as Merck’s Keytruda, which primarily targets PD-1 alone, PD-(L)1/VEGF bispecific

antibodies combine immune activation and anti-angiogenic activity in a single molecule,

with the potential to deliver superior antitumor efficacy.

The PD-(L)1 arm restores antitumor T-cell activity, while the VEGF arm inhibits

angiogenesis and may normalize tumor vasculature, enhance immune-cell infiltration,

and alleviate immunosuppression. Compared with co-administration of separate PD-(L)1

and VEGF inhibitors, the bispecific format may enable more coordinated and tumor-

localized dual-pathway blockade, potentially improving both efficacy and the therapeutic

index. However, clinical performance remains molecule-specific and is influenced by

factors such as antibody architecture, valency, binding affinity, and target-engagement

characteristics.

Demonstrating superior efficacy vs. current PD-1

therapies

Leading PD-(L)1/VEGF bispecific antibodies, including ivonescimab and SSGJ-707, have

generated encouraging efficacy data vs. current PD-1-based therapies.

Ivonescimab: H2H wins vs. leading PD-1-based therapies

HARMONi-6: significant PFS and OS benefits in first-line sqNSCLC

HARMONi-6 is a China Phase III trial comparing ivonescimab plus chemotherapy with