Summit Therapeutics (SMMT) 7th Annual Evercore ISI HealthCONx Healthcare Conference summary

Team and leadership

• Assembled a highly experienced team, including recent key executive appointments.

• Team credited for identifying and partnering with Akeso, leading to acquisition of a promising bispecific tetravalent drug.

• Organization has grown to over 130 people and is accelerating.

• Leadership recognized for industry expertise and strong financial management.

• Executive team highlighted as capable and well-regarded in the biotech sector.

Scientific and clinical program highlights

• Ivonescimab targets PD-1 and VEGF with unique allosteric cooperativity, enhancing binding and efficacy.

• HARMONi program includes multiple studies: HARMONi (EGFR, second line), HARMONi-3 (combination with chemo), and HARMONi-7 (monotherapy, global).

• HARMONi-2 data showed monotherapy ivonescimab outperformed pembrolizumab, prompting expansion of HARMONi-3.

• HARMONi-7 will have dual primary endpoints (PFS and OS) and is designed for global relevance.

• Additional phase 2 data and new indications are expected to mature in 2025.

Strategic and operational updates

• HARMONi-3 expanded to include both squamous and non-squamous NSCLC, increasing trial size and enrollment speed.

• Confident in ability to outperform pembrolizumab in key indications based on recent data.

• Exploring combinations beyond chemotherapy, including other antibodies, small molecules, and ADCs.

• Early phase 2 data suggest potential in multiple tumor types beyond lung cancer, such as biliary tract, colorectal, head and neck, and triple-negative breast.

• Competitive landscape closely monitored, with ivonescimab's engineering seen as a key differentiator.