Analysts warn that PD-1/VEGF bispecific drugs may be better suited for liver cancer than lung cancer

Many drugmakers have poured billions into PD-1/VEGF bispecific antibodies after ivonescimab beat Keytruda in a 2024 lung‑cancer trial, sparking a wave of deals and development programs.

A recent China‑based phase 3 study of ivonescimab, developed by Akeso and licensed to Summit Therapeutics, showed a 34% reduction in death risk compared with standard chemotherapy plus a PD‑1 inhibitor in lung cancer patients.

Souro Chowdhury, a senior business analyst at Lifescience Dynamics, cautions that the excitement around lung cancer may overlook a more suitable indication. He points to evidence that liver tumors, especially hepatocellular carcinoma, depend heavily on the VEGF pathway, which could make the bispecific approach more effective.

Earlier trial data also hint at potential benefits in other VEGF‑driven cancers such as gastric cancer, suggesting that companies might be missing a better opportunity by focusing primarily on lung cancer.