GSK acquires Chimagen myeloma T-cell engager for up to $750M

GSK has reached an agreement to acquire the full global rights to a preclinical trispecific T-cell engager (TCE) for multiple myeloma from Chimagen Biosciences. The deal is worth up to $750 million, consisting of an undisclosed upfront fee and additional payments tied to development and commercial milestones.

The candidate is designed to engage T cells while simultaneously binding two validated tumor-associated antigens. This approach aims to provide deeper and more durable responses than existing bispecific engagers while maintaining a better safety profile. The asset is expected to enter Phase I trials in 2027, with GSK managing its development and commercialization.

This marks GSK’s second major deal with the China-based Chimagen in less than two years, following a $300 million agreement in October 2024 for a different T-cell engager targeting B-cell malignancies and autoimmune diseases. The move is intended to strengthen GSK’s oncology portfolio in the multiple myeloma market, which is projected to exceed $10 billion in the U.S. by 2032.