GSK bags Chimagen’s trispecific T cell engager in deal worth up to $750M

 

After inking a T cell engager pact with Chimagen Biosciences a few years ago, GSK is back for more, this time acquiring a multiple myeloma program from the antibody specialist.

GSK is picking up a preclinical trispecific T cell engager from China biotech Chimagen Biosciences in a deal that could reach up to $750 million.

The British pharma will pay an undisclosed upfront fee for full global rights to the candidate, which is expected to enter the clinic for multiple myeloma next year, according to a Tuesday release. Chimagen will have the chance to collect undisclosed development and commercial milestone payments for a potential deal value total of up to $750 million.

This is the second time GSK has nabbed a pipeline program from Chimagen, following a 2024 deal worth up to $850 million that centered on a separate T cell engager (TCE) that targets B cell-mediated conditions.

GSK said its newly acquired TCE—which is designed to target T cells and two tumor antigens—can potentially provide differentiated efficacy and a better safety profile compared to current TCEs. Approved TCEs for multiple myeloma include Johnson & Johnson’s Tecvayli and Talvey, Regeneron’s Lynozyfic and Pfizer’s Elrexfio. All four are bispecific antibodies that carry boxed warnings for cytokine release syndrome and neurologic toxicity.

GSK is hoping the trispecific candidate from Chimagen will help boost adoption and earlier use for patients with multiple myeloma.

“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,” Hesham Abdullah, GSK global head of oncology and R&D, said in a prepared statement.

The pact builds on GSK’s 2024 deal with Chimagen, when the pharma paid $300 million upfront and offered $550 million in biobucks for CMG1A46, a clinical-stage bispecific TCE that targets CD19 and CD20. The program is currently in Phase 1 trials for B cell malignancies and B cell dependent autoimmune disorders, according to GSK.

GSK’s oncology pipeline also includes the late-stage asset risvutatug rezetecan (ris-rez), a B7-H3-targeted antibody-drug conjugate being developed with China’s Hansoh Pharma. Over the weekend, the partners shared that ris-rez was tied to a median OS of 18.5 months in relapsed small cell lung cancer—a 54% reduced death risk compared with standard-of-care. In December 2023, the U.K. pharma paid $185 million to secure exclusive global rights to ris-rez outside of China, Hong Kong, Macau and Taiwan, and additional payments could bring that deal’s total as high as $1.7 billion.

News of the new Chimagen pact also follows on the heels of reports of 650 staffers laid off at GSK. The job cuts are related to a vaccine manufacturing site closure, with the company consolidating its efforts to one site in Canada. In July, the pharma announced a sweeping restructure designed to save about $2.5 billion over the next three years, with the expected savings designed to buoy its portfolio and late-stage pipeline.

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