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BackGSK to acquire cancer drug from Chinese firm Chimagen in deal worth up to $750 million
GSK to acquire cancer drug from Chinese firm Chimagen in deal worth up to $750 million
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SCMP Economy51 minutes agoBusiness1 min readChina

GSK to acquire cancer drug from Chinese firm Chimagen in deal worth up to $750 million

gskchimagen biosciencest-cell engager

Quick Look

British pharmaceutical giant GSK has agreed to acquire global rights to a T-cell engager cancer drug from Chinese biotech firm Chimagen Biosciences in a deal potentially worth $750 million, targeting multiple myeloma with promises of improved tolerability and durability.

AI-generated summary

Why It Matters

GSK is seeking to strengthen its oncology pipeline amid growing competition in the pharmaceutical industry. Chimagen Biosciences is a Chengdu-based biotech firm focused on novel cancer therapeutics.

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British pharmaceutical giant GSK has agreed to acquire a cancer drug from Chinese firm Chimagen Biosciences in a deal worth up to US$750 million, underscoring China’s emergence as a global player in biotechnology.

GSK announced plans on Tuesday to buy full global rights to a “potential best-in-class” T-cell engager (TCE) from Chengdu-based Chimagen, targeting treatment for multiple myeloma, a type of blood cancer.

TCEs work by binding T cells, a kind of white blood cell, directly to cancer cells, triggering the immune system to attack the cancer. While current TCEs are effective at treating multiple myeloma, they often cause major side effects, and Chimagen’s new drug shows promise in both improved tolerability and more durable results, according to GSK.

GSK will pay an undisclosed upfront fee to develop and commercialise Chimagen’s new TCE assets, followed by payments based on the drug’s successful development and commercialisation, the company said. The programme is expected to enter phase one trials next year.

What to Watch

AI outlook — possibilities, not facts

  • Phase one clinical trials for the T-cell engager will begin next year as stated by GSK

    Very likely · Within months

Open Questions

  • What is the exact upfront payment amount?
  • What are the specific milestones triggering future payments?
  • When exactly will phase one trials begin?

Related Topics

gsk
OrganizationsGSKChimagen Biosciences
PlacesChengdu
Topicschimagen biosciencest-cell engagermultiple myelomacancer drugbiotechnologychina
This article was originally published by SCMP Economy.

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