GSK to Acquire Multiple Myeloma Drug Candidate from Chimagen Biosciences

GSK plc announced it has entered an agreement to acquire a trispecific T cell-engager (TCE) from Chimagen Biosciences, a privately held biotechnology company. The acquisition aligns with GSK’s strategy of acquiring differentiated assets with validated targets, particularly in its oncology portfolio.

The acquired asset is designed to target T cells and two tumor antigens simultaneously. This approach aims to achieve improved efficacy and safety compared to existing TCEs, which have shown significant results in multiple myeloma but often come with challenging tolerability profiles. The drug candidate is intended to offer a deeper and more durable response with better tolerability.

GSK plans to develop and commercialize the candidate, with the program expected to enter Phase I clinical trials in 2027. The US market for TCEs in multiple myeloma is projected to exceed $10 billion by 2032. The deal includes upfront payments and potential success-based milestone payments, with a total potential value of up to $750 million.

Multiple myeloma is the third most common blood cancer globally and remains a significant area for therapeutic development due to its common progression to treatment resistance. This agreement builds on a previous collaboration between GSK and Chimagen.