GSK Buys Chimagen Cancer Drug in $750M Deal

GSK agreed on 15 September 2026 to acquire the global rights to an experimental blood cancer therapy from Chimagen Biosciences. The agreement covers a preclinical trispecific T-cell engager designed to treat multiple myeloma. The total potential deal value reaches up to $750 million.

The pharmaceutical group expects the acquired asset to enter its initial clinical trials in 2027. Multiple myeloma ranks as the third most common blood cancer globally, with approximately 180,000 new diagnoses recorded each year.

The transaction expands GSK's oncology pipeline in a fast-growing therapeutic area. The United States market for multiple myeloma T-cell engagers is projected to reach $10 billion by 2032.

This agreement builds on an earlier partnership between the two companies. In October 2024, GSK acquired the asset CMG1A46 from Chimagen in a deal worth up to $850 million, which included $300 million upfront and up to $550 million in potential milestone payments.