MK-2010 / Merck (MSD), Sino Biopharm, LaNova Medicines Limited - LARVOL DELTA

A Clinical Trial of MK-2010 Alone and With Other Treatments in Participants With Advanced Solid Tumors (MK-2010-002) (clinicaltrials.gov) - P2 | N=480 | Not yet recruiting | Sponsor: Merck Sharp & Dohme LLC

Monotherapy • New P2 trial • Oncology • Solid Tumor

A Clinical Trial of MK-2010 With Sacituzumab Tirumotecan (Sac-TMT) in Participants With Solid Tumors (MK-2010) (clinicaltrials.gov) - P2 | N=200 | Not yet recruiting | Sponsor: Merck Sharp & Dohme LLC

New P2 trial • Oncology • Solid Tumor

MK-2010: “MK-2010 (PD-1xVEGF bispecific) demonstrated encouraging preliminary results in first-in-human study”; Non-small cell lung cancer (Merck (MSD)) - ASCO 2026: “Unconfirmed ORR in NSCLC backfill was 55% and 18% for treatment naïve and previously treated participants, respectively, at 20 mg/kg dos”

P1/2 data • Lung Cancer • Non Small Cell Lung Cancer • Oncology

The anti-tumor activity of BB-202, a novel anti-PD-1/anti-VEGF bispecific antibody (AACR 2026) - "In PD-1/PD-L1 blockade assays, BB-202 showed potency similar to pembrolizumab and substantially greater than AK112 and LM-299. BB-202 also blocked VEGFA activity with potency comparable to bevacizumab (Avastin), AK112, and LM-299...BB-202 is a potent, stable, and well-tolerated anti-PD-1/anti-VEGF bispecific antibody. Its superior in vitro potency and robust in vivo efficacy, together with a favorable developability profile, position BB-202 as a promising best-in-class therapeutic candidate among PD-1/VEGF-targeting bispecific antibodies."

Bispecific • Oncology

Preliminary results from the first-in-human study of MK-2010, a PD-1×VEGF bispecific antibody (AACR 2026) - P1/2 | "Background: MK-2010 (LM-299) is a novel PD-1×VEGF bispecific antibody... MK-2010 showed manageable safety across the tested dose levels and promising anti-tumor activity, including in both treatment-naïve and IO-refractory NSCLC. Enrollment is ongoing to further characterize the safety and efficacy of MK-2010."

Bispecific • First-in-human • IO biomarker • P1 data • Lung Cancer • Non Small Cell Lung Cancer • Oncology • Solid Tumor • PD-1

AACR 2026 – Merck’s VEGF bispecific reveal (ApexOnco OncologyPipeline) - "The upcoming AACR meeting will be the venue at which Merck & Co will reveal the first clinical data for MK-2010...."

First-in-human • P1/2 data • Solid Tumor

LM-299 OUT-LICENSING COLLABORATION PROGRESSING SMOOTHLY; US$300 MILLION MILESTONE PAYMENT TO BE RECEIVED SHORTLY (HKEXnews) - "The board of directors (the ‘Board’) of Sino Biopharmaceutical Limited (the ‘Company’, together with its subsidiaries, the ‘Group’) announces that the out-licensing collaboration of LaNova Medicines Limited (‘LaNova Medicines’, a wholly-owned subsidiary of the Group) and Merck & Co., Inc. in respect of LM-299/MK-2010 ‘PD-1/VEGF Bispecific Antibody’ is progressing smoothly. The Group will receive a technology transfer milestone payment of US$300 million in the near term. On 29 July 2025, Merck & Co., Inc. disclosed during its Q2 earnings presentation that the technology transfer of LM-299 was completed in July, and it is expected to recognize a milestone payment of US$300 million associated with the technology transfer in the third quarter."

Financing • Licensing / partnership • Solid Tumor

Study of LM-299 in Subjects Advanced Malignant Tumors (clinicaltrials.gov) - P1/2 | N=108 | Recruiting | Sponsor: LaNova Medicines Limited | N=230 ➔ 108

Enrollment change • Monotherapy • Oncology • Solid Tumor

Merck Enters into Exclusive Global License for LM-299, An Investigational Anti-PD-1/VEGF Bispecific Antibody from LaNova Medicines Ltd. (Merck (MSD) Press Release) - "Merck...and LaNova Medicines Ltd. (LaNova)...today announced that Merck has entered into an exclusive global license to develop, manufacture and commercialize LM-299, a novel investigational PD-1/VEGF bispecific antibody from LaNova...Under the agreement, LaNova has granted Merck an exclusive global license to develop, manufacture and commercialize LM-299. LaNova will receive an upfront payment of $588 million. LaNova is also eligible to receive up to $2.7 billion in milestone payments associated with the technology transfer, development, regulatory approval and commercialization of LM-299 across multiple indications."

Licensing / partnership • Oncology • Solid Tumor

LaNova Medicines Announces…Completion of $42 Million Series C1 Financing (PRNewswire) - "LaNova has recently initiated its Series C2 financing round. Proceeds will be primarily used to advance the clinical development of the Company's pipeline, including lead candidates: LM-302 (anti-CLDN 18.2 ADC): ongoing Phase III registrational clinical trial in China for gastric cancers, making it one of the top three candidates globally in terms of development progress for this target; US Phase II trial expected to start in H2 2025; LM-108 (anti-CCR8 mAb): ongoing Phase II clinical trials in China for multiple solid tumors, making it one of the top three most advanced projects worldwide targeting CCR8; US Phase II trial expected to start in H2 2024; LM-299 (anti-PD-1/VEGF BsAb): Phase I clinical trial in China is currently enrolling patients for advanced solid tumors."

Financing • New P2 trial • Gastric Cancer • Gastrointestinal Cancer • Oncology • Solid Tumor

LaNova Medicines Announces Initiation of Phase 1 Clinical Trial of Anti-PD-1/VEGF Bispecific Antibody LM-299… (PRNewswire) - "LaNova Medicines Limited...announced the initiation of its Phase 1 clinical trial of LM-299, an anti-PD-1/VEGF BsAb, in China for advanced solid tumors...LaNova is planning to initiate an additional Phase 1 clinical trial in the US and expects to submit an IND in the second half of 2024."

IND • New P1 trial • Oncology • Solid Tumor

Study of LM-299 in Subjects Advanced Malignant Tumors (clinicaltrials.gov) - P1/2 | N=230 | Recruiting | Sponsor: LaNova Medicines Limited

Combination therapy • Metastases • New P1/2 trial • Oncology • Solid Tumor