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GSK buys second Chimagen T cell engager in deal worth up to USD 750m

Edited by Robert McTiernan··2 min read
GSK buys second Chimagen T cell engager in deal worth up to USD 750m

GSK (LSE/NYSE: GSK) has agreed to acquire a preclinical trispecific T cell engager (TCE) for multiple myeloma from Chimagen Biosciences, a privately held China-based biotechnology company, in a deal worth up to USD 750 million. GSK will pay an undisclosed upfront fee to acquire full global rights, with Chimagen eligible to receive success-based development and commercial milestone payments making up the remainder of the total. The program is expected to enter Phase I trials in 2027.

The asset is designed to engage T cells while simultaneously binding two tumor-associated antigens on myeloma cells — a trispecific architecture that Chimagen said is intended to improve upon existing TCEs. The specific tumor antigens targeted have not been disclosed.

The deal extends an existing relationship between the two companies. In October 2024, GSK paid USD 300 million upfront to acquire full global rights to CMG1A46, a clinical-stage dual CD19 and CD20-targeted TCE under development for B-cell malignancies and autoimmune disorders. Chimagen is eligible for a further USD 550 million in development and commercial milestones under that agreement, while the new multiple myeloma program represents a second asset acquisition from Chimagen rather than a broader platform license.

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Approved TCEs in multiple myeloma — including teclistamab (Tecvayli), which targets BCMA and CD3, and talquetamab (Talvey), which targets GPRC5D and CD3 — are bispecific formats. The Chimagen asset's trispecific design, targeting T cells alongside two myeloma antigens, is the company's stated basis for potential differentiation on both efficacy and tolerability, though no clinical data exist yet to support those claims.

GSK already markets belantamab mafodotin (Blenrep), a B-cell maturation antigen (BCMA)-directed antibody-drug conjugate, in multiple myeloma in combination regimens, and the new TCE would add a mechanistically distinct option to that franchise if it advances through development.

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