Summit Therapeutics Inc. (NASDAQ: SMMT) has appointed Jeff Huber, a former Google and Grail executive, to its board of directors effective immediately. Huber brings with him a wealth of experience in healthcare and technology, having co-founded Google's life sciences efforts in Google[x] and led the development and scaling for Google Maps, Google Apps, and Google Ads. He was also the founding CEO and vice chairman of Grail, Inc., a company focused on early cancer detection.
Ivonescimab, known as SMT112 in Summit's license territories, is a novel investigational bispecific antibody that combines immunotherapy via a blockade of PD-1 with anti-angiogenesis effects associated with blocking VEGF into a single molecule. It is currently engaged in multiple phase III clinical trials, with over 1,600 patients treated globally. The company has begun clinical development of Ivonescimab in non-small cell lung cancer (NSCLC) and is conducting two phase III clinical trials: Harmoni and Harmoni-3.
Harmoni aims to evaluate Ivonescimab combined with chemotherapy compared to placebo plus chemotherapy in patients with EGFR-mutated, locally advanced, or metastatic non-squamous NSCLC who have progressed after treatment with a 3rd generation EGFR TKI. Harmoni-3, on the other hand, is designed to evaluate Ivonescimab combined with chemotherapy compared to pembrolizumab combined with chemotherapy in patients with first-line metastatic squamous NSCLC.
It's important to note that Ivonescimab is an investigational therapy not approved by any regulatory authority in Summit's license territories, including the United States and Europe. However, it has been approved for marketing authorization in China as of May 2024.
Summit Therapeutics Inc. is a biopharmaceutical oncology company focused on improving the quality and potential duration of patients' lives, and resolving serious unmet medical needs. The company's shares are listed on the NASDAQ Global Market under the symbol "SMMT" and it is headquartered in Miami, Florida, with additional offices in Menlo Park, California, and Oxford, UK. As a result of these announcements, the company's shares have moved 1.3% on the market, and are now trading at a price of $7.87. For the full picture, make sure to review Summit Therapeutics's 8-K report.
