GSK plc GSK has entered into an agreement to acquire an investigational trispecific T-cell engager (TCE) from Chimagen Biosciences, a privately held biotechnology company.
Under the agreement, GSK will pay Chimagen an upfront payment in exchange for full global rights to the trispecific TCE program. Chimagen will also be eligible to receive development and commercial milestone payments. The transaction has a total potential value of up to $750 million and remains subject to customary closing conditions.
The candidate is designed to improve on some of the limitations of existing TCE therapies for multiple myeloma. It is designed to bind to T cells while simultaneously targeting two tumor-associated antigens, rather than relying on a single tumor target. If the candidate proves successful in clinical studies, its improved efficacy and tolerability could make it suitable for broader use and potentially earlier treatment of multiple myeloma.
GSK plans to develop the candidate for the treatment of multiple myeloma, with a phase I study expected to begin in 2027.
Year to date, GSK’s shares have gained 1.6% compared with the industry’s 4.8% growth.
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Deal Expands GSK's Multiple Myeloma Portfolio
The acquisition complements GSK's existing multiple myeloma franchise, which includes Blenrep (belantamab mafodotin). In 2025, Blenrep combinations were approved for patients with relapsed or refractory multiple myeloma in the United States, the European Union, the United Kingdom, Japan and other markets. Adding another potential treatment option allows GSK to build a broader multiple myeloma portfolio.
Multiple myeloma is the third most common blood cancer globally, with approximately 180,000 new cases diagnosed each year. Although treatment options have improved, it remains incurable, and patients may eventually develop resistance to available therapies.
Deal Builds on Existing Chimagen Relationship
The agreement expands GSK's existing relationship with Chimagen. GSK previously acquired CMG1A46, an investigational dual CD19/CD20-targeted TCE from the company. CMG1A46 is currently being evaluated in phase I studies for B-cell cancers and B-cell-dependent autoimmune diseases.
The latest transaction further strengthens GSK's focus on multi-specific T-cell therapies and blood cancers.
GSK Continues to Strengthen Its Oncology Pipeline
The Chimagen deal is part of GSK's broader strategy to strengthen its oncology portfolio. The company is focusing on blood cancers and women's cancers while also expanding into lung, gastrointestinal and other solid tumors.
GSK's oncology pipeline includes antibody-drug conjugates targeting B7-H3 and B7-H4, as well as velzatinib, a selective KIT tyrosine kinase inhibitor. The addition of the trispecific TCE provides another potential growth opportunity in multiple myeloma and supports GSK's goal of developing new treatments for patients with difficult-to-treat cancers.
GSK’s Zacks Rank & Stock to Consider
GSK currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are Precigen PGEN, currently sporting a Zacks Rank #1 (Strong Buy), and AC Immune ACIU and Aldeyra Therapeutics ALDX, carrying a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, estimates for Precigen’s 2026 bottom line have improved from a loss of 2 cents to earnings per share of 25 cents. Over the same period, earnings estimates for 2027 have risen from 25 cents to 86 cents. PGEN shares have gained 63.9% year to date.
Precigen’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 108.96%.
Over the past 60 days, estimates for AC Immune’s 2026 loss per share have narrowed from 84 cents to 60 cents. Over the same period, earnings estimates for 2027 remained unchanged at 17 cents. ACIU shares have lost 15.3% year to date.
AC Immune’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 33.25%.
Over the past 60 days, loss per share estimates for Aldeyra Therapeutics have narrowed from 43 cents to 39 cents for 2026. Over the same period, estimates for 2027 loss per share have narrowed from 22 cents to 16 cents. ALDX shares have plunged 71.9% year to date.
Aldeyra Therapeutics’ earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 29.25%.
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This article originally published on Zacks Investment Research (zacks.com).