GSK to acquire Chimagen’s trispecific T-cell engager program in deal up to $750 million

GSK announced it will acquire a preclinical trispecific T cell engager program from Chinese biotech Chimagen Biosciences in a transaction that could total up to $750 million.

The agreement provides GSK with full global rights to the candidate in exchange for an undisclosed upfront payment, with additional development and commercial milestone payments that could bring the total value to the stated maximum.

The trispecific engager is designed for multiple myeloma and is slated to enter clinical testing next year. GSK says the three‑arm format, which targets T cells and two tumor antigens, may deliver stronger efficacy and a safer profile than existing bispecific TCEs.

This deal marks GSK’s second collaboration with Chimagen, following a 2024 agreement for a different T cell engager aimed at B‑cell diseases, further expanding GSK’s immuno‑oncology pipeline.