GSK secures global rights to Chimagen trispecific T-cell engager

GlaxoSmithKline has acquired full global rights to a trispecific T-cell engager from Chimagen Biosciences, marking a significant re-entry into the oncology sector. The agreement involves an upfront payment and potential milestone fees, with total deal value capped at $750m. GSK will assume responsibility for developing the unnamed asset for the treatment of multiple myeloma, with plans to initiate Phase I clinical trials in 2027.

This transaction represents the second collaboration between the two companies, following a 2024 licensing deal for CMG1A46, a T-cell engager designed for B cell-driven autoimmune diseases. T-cell engagers function as a form of immunotherapy that directs the body’s immune system to destroy tumour cells. The modality has gained substantial traction in recent years, with major pharmaceutical firms including Bristol Myers Squibb, Gilead, and UCB securing similar assets over the past year. This trend follows the demonstrated efficacy of approved therapies such as Johnson & Johnson’s Tecvayli, which is being evaluated for earlier lines of treatment in multiple myeloma following positive Phase III data.

The move aligns with GSK’s refreshed strategic priorities under CEO Luke Miels, who has identified oncology as a core pillar of the company’s future growth. GSK previously divested its oncology business in a $20bn asset swap with Novartis in 2015. The company now intends to expand its focus from blood and women’s cancers into solid tumours, including lung and gastrointestinal cancers, by leveraging advanced modalities such as antibody-drug conjugates, T-cell engagers, and tyrosine kinase inhibitors.

Market analysts indicate a strong commercial opportunity in the multiple myeloma space, which is the third most common blood cancer globally. Forecasts suggest the US market alone could exceed $10bn by 2032. Broader industry data from GlobalData indicates that the total immuno-oncology market is expected to reach $186bn by 2031, driven primarily by checkpoint inhibitors and T-cell engagers. Currently, more than 100 Phase III studies are exploring treatment options for multiple myeloma, with over 60 per cent classified as immuno-oncology assets.