Chinese Pharmaceutical Company Reveals Breakthrough Results of New Lung Cancer Drug

"Deep-Sea Moment" for Biotech
Chinese Industry Encouraged by Akeso's Announcement
"Success Could Put China Three Years Ahead of the US in Technology"

On the 16th, Hong Kong's South China Morning Post (SCMP) reported that a new lung cancer treatment drug developed by a Chinese pharmaceutical company outperformed major Western competitors in clinical trials, boosting the Chinese industry.

Chinese pharmaceutical company Akeso announced through the medical journal The Lancet that its new immunotherapy drug, Ibonezsimab, achieved a median progression-free survival (PFS) of 11.1 months in half of the patients in its Phase 3 clinical trial. This figure surpasses the median PFS of 5.8 months for Keytruda, the most widely used cancer treatment drug by the American company Merck.

Akeso first disclosed these research results in September last year, and at the annual major political event in China, the Two Sessions, a member of the Chinese People's Political Consultative Conference, a national advisory body, introduced the case of Ibonezsimab nationwide.

Ibonezsimab is a type of immunotherapy known as a PD-1 inhibitor. It helps the immune system identify and kill cancer cells.

Chinese pharmaceutical company Akeso homepage. Screenshot of Akeso homepage Photo by Yonhap News

According to a report released on the 12th by the Chinese venture capital fund 'Friese Fund,' if Akeso's new drug efficacy is further validated in more clinical trials, China could potentially advance three years ahead in the PD-1 field, where it was previously five years behind the United States.

Chinese media described this new drug development as a 'deep-sea moment' for China's biotech industry. Local media Xinlang Caijing gave significant coverage to a report by the American Wall Street Journal (WSJ) podcast last month stating, "China's biotech industry is experiencing a deep-sea moment," and reported, "We believe this change originates from the progress process involving the integration of the three main entities of payment, supply, and investment in China's innovative biotech industry."

Akeso was established in 2012 in Zhongshan, Guangdong, China. Founded and led by Michelle Sha, who previously held senior positions at Western pharmaceutical companies such as Bayer and Crown Bioscience, the company started with a 20 million yuan (approximately 4 billion KRW) angel investment and operated with rent subsidies and equipment support from local Chinese governments. Akeso was listed on the Hong Kong Stock Exchange in 2020.