Summit Therapeutics Inc (NASDAQ: SMMT) announced on Monday that it has entered a clinical trial collaboration with Pfizer Inc (NYSE: PFE) to evaluate ivonescimab, a novel PD-1/VEGF bispecific antibody, in combination with Pfizer's antibody drug conjugates (ADCs) across multiple solid tumour settings. Clinical trials are expected to begin in mid-2025.

Under the agreement, Summit will supply ivonescimab, while Pfizer will oversee trial operations. Each study will assess ivonescimab with a vedotin-based ADC to determine safety and anti-tumour activity. Both companies retain rights to their respective products.

Ivonescimab, known as SMT112 in Summit's licensed territories, is a first-in-class bispecific antibody designed to enhance tumour-targeted immunotherapy. Engineered by Akeso Inc. (HKEX: 9926.HK), it has been tested in over 2,300 patients globally and is undergoing multiple Phase III trials for non-small cell lung cancer (NSCLC), including HARMONi, HARMONi-3 and HARMONi-7. The U.S. FDA has granted it Fast Track designation for the HARMONi trial setting.

Summit, founded in 2003, focuses on oncology drug development and commercialization, with headquarters in Miami, Florida, and offices in Menlo Park, California, and Oxford, UK.