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Donafenib + cadonilimab is a combination therapy being investigated for the treatment of advanced hepatocellular carcinoma (HCC). Donafenib is an orally administered multi-kinase inhibitor that targets the vascular endothelial growth factor receptors (VEGFR), platelet-derived growth factor receptors (PDGFR), and the Raf/MEK/ERK signaling pathway, thereby exerting anti-angiogenic and anti-proliferative effects. Cadonilimab (AK104) is a first-in-class humanized bispecific antibody that simultaneously targets programmed cell death protein 1 (PD-1) and cytotoxic T-lymphocyte-associated protein 4 (CTLA-4), providing dual immune checkpoint blockade. The combination is designed to synergistically enhance anti-tumor activity by combining the tumor microenvironment modulation of a kinase inhibitor with the potent immune activation of a bispecific checkpoint inhibitor. Clinical development is being led by institutions such as The Sixth Affiliated Hospital of Sun Yat-sen University in collaboration with the drug developers Suzhou Zelgen Biopharmaceuticals and Akeso Biopharma.
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