GSK plc has entered into an agreement to acquire a potential best-in-class trispecific T-cell Engager (TCE) from Chimagen Biosciences, a privately held biotechnology company, to develop and commercialise the programme for multiple myeloma.

The investigational programme is expected to enter Phase 1 clinical trials in 2027. Under the agreement, GSK will acquire full global rights to the TCE programme and will make an upfront payment to Chimagen. The biotechnology company will also be eligible for development and commercial milestone payments, taking the total potential value of the agreement to up to USD 750 million.

TCEs have demonstrated significant clinical activity in multiple myeloma but can be associated with tolerability challenges. Chimagen’s trispecific TCE is designed to bind to T cells while simultaneously targeting two selected tumour-associated antigens. The approach is intended to potentially deliver deeper and more durable responses while improving tolerability compared with existing TCE approaches.

GSK said the programme could potentially support broader and earlier use of T-cell engager therapies in multiple myeloma, where patients may require multiple treatment options during the course of the disease.

The agreement expands GSK’s existing relationship with Chimagen. The companies previously entered into an agreement for GSK to acquire CMG1A46, a clinical-stage dual CD19 and CD20-targeted TCE currently being evaluated in Phase I trials for B-cell malignancies and B-cell-dependent autoimmune disorders.

Hesham Abdullah, Senior Vice President and Global Head, Oncology R&D, GSK, said the agreement adds a potential new T-cell engager to the company’s multiple myeloma portfolio and supports its focus on developing treatment options for patients with the disease.

Zhenhao Zhou, Chief Executive Officer, Chimagen Biosciences, said the collaboration combines Chimagen’s multi-specific T-cell engager programme with GSK’s global development and commercial capabilities.

Multiple myeloma is the third most common blood cancer globally, with approximately 180,000 new cases diagnosed each year. Although the disease is generally considered treatable, it remains incurable, and many patients eventually develop disease that is refractory to available treatments.

The transaction remains subject to customary closing conditions.

Chimagen Biosciences is focused on developing multi-specific T-cell and NK-cell engagers using proprietary antibody engineering platforms for cancer and autoimmune diseases. GSK’s oncology portfolio focuses on blood and women’s cancers, with the company also developing programmes across lung, gastrointestinal and other solid tumours.