GSK acquires global rights to multiple myeloma asset from Chimagen Biosciences

(Sharecast News) - Drugmaker GSK said on Tuesday that it would pay up to $750m to acquire full global rights to a trispecific T‑cell engager for multiple myeloma from privately held biotechnology company Chimagen Biosciences. GSK stated the agreement includes an upfront payment and further development and commercial milestones, with the programme expected to enter phase I trials in 2027.

The FTSE 100-listed company said the asset, described as a potential best‑in‑class therapy, was designed to bind T cells while targeting two validated tumour antigens, aiming for deeper and more durable responses than current TCEs and a more manageable safety profile.

GSK said this could support broader and earlier use in multiple myeloma, a disease that remains incurable and commonly becomes refractory to existing treatments. The US TCE market for the condition was forecast to exceed $10bn by 2032.

It added that the deal builds on its existing relationship with Chimagen, following a prior agreement to acquire CMG1A46, a dual CD19/CD20 TCE now in phase I trials.

GSK's Hesham Abdullah 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."

As of 0845 BST, GSK shares were up 0.32% at 1,860.50p.







Reporting by Iain Gilbert at Sharecast.com

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