GSK has announced that it has entered into an agreement with a China-based biotech, Chimagen Biosciences, to purchase a potential best-in-class trispecific T cell-engager (TCE) for multiple myeloma.
The deal is valued at up to $750m, with GSK paying an upfront fee to access full global rights to the TCE programme and Chimagen eligible for development and commercial milestone payments.
The programme is expected to enter Phase I trials in 2027.
TCEs are antibody molecules that act as molecular bridges, connecting a patient's immune T cells directly to cancer cells.
They have shown promise for multiple myeloma but have struggled with difficult tolerability profiles.
Chimagen's asset is designed to address this by binding to T cells while also targeting two tumour-associated antigens, which GSK says allows 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.
Hesham Abdullah, Senior Vice President, Global Head Oncology, R&D, GSK, 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.
Zhenhao Zhou, CEO, Chimagen Biosciences, added: “Our mission has always been to translate cutting-edge innovation into life-changing medicines. Working with GSK combines our precision T-cell engager programme with their global development and commercial capabilities to redefine care for multiple myeloma patients."
This agreement also marks another major milestone for our platforms as we continue to build an industry-leading pipeline of multi-specific antibody candidates.
This latest purchase builds on new CEO Luke Miels' vision to expand GSK's cancer franchise ahead of upcoming patent expiries on its HIV medicines.
Earlier this year, the UK-based pharma giant bought lung cancer specialist Nuvalent for $10.6bn — its biggest acquisition in more than a decade.
It is not the first time GSK has worked with Chimagen, either. A previous agreement in 2024 saw GSK pay up to $850m for the rights to develop and sell CMG1A46, a clinical-stage dual CD19 and CD20-targeted TCE, from the biotech.
