Akeso acquired the rights to Summit Therapeutics’ PD-1/VEGF bispecific ivonescimab outside China in 2022 for $5 billion. Summit submitted a biologics license application for ivonescimab in non-small cell lung cancer to the US Food and Drug Administration on 12 January; the drug could become the first PD-1/VEGF bispecific to gain US approval.
In 2025, Pfizer paid $1.25 billion to 3SBio for exclusive rights to the bispecific antibody SSGJ-707, excluding China.
A notable trend in recent deals is the geographic origin of the assets, with several high-value oncology programmes developed in China drawing international investment.
GlobalData’s State of the Biopharmaceutical Industry 2026 Edition report finds key opinion leaders see opportunities in collaborating with Chinese companies and expects licensing deals involving Chinese biotech and pharma to continue into 2026.
Experts speaking to Pharmaceutical Technology echoed this view, saying high-value oncology deals will continue to underpin China’s growth in the pharmaceutical sector. Josh Smiley, president and COO of US–China biopharma Zai Labs, singled out PD-1/VEGF bispecifics as an area of strong interest.
This article was originally published by Pharmaceutical Technology, a GlobalData-owned brand.
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