GSK agrees up to USD750 million deal for blood cancer-targeting drug
GSK PLC on Tuesday said it has agreed to buy "a potential best-in-class" T cell-engager aimed at treating multiple myeloma from China-based clinical-stage biotechnology company Chimagen Biosciences for up to USD750 million.
The London-based pharmaceuticals firm said it plans to develop and commercialise the asset to treat cancer, with a programme expected to enter the early stage of trials in 2027.
GSK will pay an upfront fee to acquire full global rights to the trispecific T cell-engager, with Shanghai-based Chimagen eligible to receive development and commercial milestone payments.
In total, GSK said the programme has a total potential value of USD750 million.
GSK noted TCEs have shown "transformational" efficacy in multiple myeloma but have been associated with difficult tolerability profiles.
"The Chimagen trispecific asset is designed to address this by binding to T cells while simultaneously targeting two strategically selected and validated tumour-associated antigens. This targeted approach aims to achieve a deeper and more durable response compared to existing TCEs, along with an improved tolerability profile. This could enable broader adoption and earlier use in multiple myeloma treatment, providing an important advancement for patients who may require multiple options depending on their treatment needs," GSK explained.
The US TCE market for multiple myeloma is expected to exceed USD10 billion by 2032, the company said.
"Today's deal secures a promising T cell engager and advances GSK's leadership goals in blood cancer. The agreement complements our existing portfolio in multiple myeloma, adding a new potential option to address the different needs of patients facing this complex disease," commented Hesham Abdullah, global head of Oncology research and development.
Shares in GSK were up 0.3% at 1,860.50 pence each in London on Tuesday morning, outperforming the wider FTSE 100 index, which was down 0.8%.
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