China’s Akeso says cancer drug beat AstraZeneca’s Imfinzi in phase 3 trial

Chinese biopharmaceutical company Akeso reported on Wednesday that its immunotherapy drug ivonescimab outperformed AstraZeneca's Imfinzi in a phase three trial for biliary tract cancer. This marks a significant breakthrough for Akeso, as China's biopharma industry seeks to compete on the global stage. The study involved 682 patients with advanced biliary tract cancer, a highly lethal form of cancer with a five-year survival rate below 5 percent.

Patients taking ivonescimab lived longer than those using Imfinzi (durvalumab) plus chemotherapy, according to Akeso's Hong Kong stock exchange filing. This is the first positive phase three study for ivonescimab in gastrointestinal tumors, potentially expanding the drug's use to other solid tumors, said Akeso's CEO and founder, Xia Yu.

While Akeso has not disclosed specific survival figures, the company plans to present them at an upcoming conference. Ivonescimab has already received approval from Chinese regulators for non-small cell lung cancer and Summit Therapeutics has licensed it for further applications in the U.S. As China's biopharma firms strive to rival global giants like AstraZeneca, Akeso is conducting trials for ivonescimab in various cancers, such as colorectal cancer and head and neck squamous cell carcinoma.

The trial results suggest that Akeso could begin marketing ivonescimab for biliary tract cancer in China soon after receiving regulatory approval, according to analysts. However, the trial's impact on Akeso's market share may be limited, as advanced biliary tract cancer is considered a rare disease. Akeso's shares surged nearly 7.5 percent following the announcement, contrasting with the broader market decline.