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Investing.com -- Summit Therapeutics Inc. (NASDAQ: NASDAQ:SMMT) stock climbed 5% after the biopharmaceutical company announced a clinical trial collaboration with industry giant Pfizer Inc. (NYSE: NYSE:PFE). The partnership is set to evaluate Summit’s ivonescimab in combination with Pfizer’s antibody drug conjugates (ADCs) for the treatment of multiple solid tumor types.
The collaboration aims to leverage ivonescimab, Summit’s investigational PD-1/VEGF bispecific antibody, with Pfizer’s ADCs to potentially enhance care standards for patients with serious unmet medical needs. The studies will focus on determining the safety and anti-tumor activity of these combinations across various solid tumor settings.
Summit’s Co-CEOs, Bob Duggan and Dr. Maky Zanganeh, expressed optimism about the collaboration’s ability to accelerate the development of ivonescimab, particularly in non-small cell lung cancer and other solid tumors. They emphasized the importance of novel mechanisms in making a significant impact for cancer patients and physicians.
Pfizer’s Megan O’Meara, M.D., Head of Oncology Early Stage Development, echoed the sentiment, highlighting the partnership’s role in advancing the exploration of ADCs in differentiated combinations with a bispecific antibody. The collaboration represents an innovative approach to targeted cancer treatments, aiming to transform therapeutic options for people living with cancer.
Under the agreement terms, Summit will supply ivonescimab for the studies, while Pfizer will manage the study operations. Both companies will oversee the trials, retaining their respective rights to their products. The clinical trials combining ivonescimab with Pfizer’s vedotin ADCs are scheduled to commence in the middle of this year, with more details to be released later.
Investors have responded positively to the news, reflected in the uptick of Summit’s stock price. The collaboration with Pfizer not only validates Summit’s research but also provides a pathway to potentially expedite the development of its cancer treatments.
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