GSK said today it had agreed a deal worth up to $750m to buy a trispecific T cell-engager (TCE), a drug designed to help T-cells target cancer, from China-based biotechnology firm Chimagen Biosciences.
A trispecific T cell-engager is an engineered protein that brings T-cells and tumour cells together while blocking immune checkpoints, enhancing cancer-killing ability with reduced off-target effects.
GSK will pay an upfront fee to acquire full global rights to the TCE programme, and Chimagen will be eligible for development and commercial milestone-linked payments.
The London-listed company plans to develop and commercialise the drug for multiple myeloma, a type of blood cancer, with phase 1 trials expected to begin in 2027.
The deal marks the latest step in an oncology building spree under new CEO Luke Miels, who has vowed to expand GSK’s cancer franchise ahead of looming patent losses on its top-selling HIV medicines.
Earlier this year, GSK bought lung cancer specialist Nuvalent for a $10.6 billion, its biggest acquisition in more than a decade.
In 2024, GSK bought rights to develop and sell an experimental drug from Chimagen in an up to $850m deal.
In October 2025, the US Food and Drug Administration approved GSK’s blood cancer drug Blenrep in a combination regimen, allowing it to return to the market nearly three years after it was withdrawn.
