GSK has agreed to acquire a promising trispecific T cell-engager (TCE) from Chimagen Biosciences in a deal worth up to $750 million, as the drugmaker expands its push into blood cancer treatments.

 

The programme is designed for multiple myeloma and is expected to enter Phase I clinical trials in 2027. GSK will acquire full global rights to the asset under the agreement, with Chimagen eligible for additional development and commercial milestone payments.

 

The experimental therapy is designed to target T cells and two tumour-associated antigens simultaneously—a strategy GSK says could deliver deeper and more durable responses while improving tolerability compared with existing TCE therapies.

 

TCEs have demonstrated significant efficacy in multiple myeloma but can be difficult for patients to tolerate. GSK said the new trispecific approach could potentially support earlier and broader use of TCE 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.”

 

The US TCE market for multiple myeloma is expected to exceed $10 billion by 2032, underscoring the commercial opportunity in the rapidly developing treatment class.

 

Zhenhao Zhou, Chief Executive Officer, Chimagen Biosciences, said: “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.”

 

Multiple myeloma is the world's third most common blood cancer, with about 180,000 new cases diagnosed globally each year. Although the disease is generally treatable, it remains incurable and frequently becomes resistant to available therapies, creating a continuing need for new treatment options.

 

The deal deepens an existing relationship between the two companies. GSK previously agreed to acquire Chimagen's CMG1A46, a clinical-stage dual CD19/CD20-targeted TCE currently being evaluated in Phase I trials for B-cell malignancies and B-cell-dependent autoimmune disorders.

 

The acquisition fits GSK's broader oncology strategy, which currently focuses on blood and women's cancers while expanding into lung, gastrointestinal and other solid tumours.

 

GSK said it is also advancing programmes including the antibody-drug conjugates Ris Rez, targeting B7-H3, and Mo-Rez, targeting B7-H4, as well as velzatinib, a selective KIT tyrosine kinase inhibitor.