GSK (GSK.US) strengthens its oncology pipeline with acquisition worth up to $750 million for EnmuBio's trispecific TCE, targeting multiple myeloma

According to reports from Zhihui Finance APP, GlaxoSmithKline (GSK.US) announced on Tuesday that it has reached an agreement with Chinese biotechnology company Chimagen Biosciences to acquire the global rights to the latter's trispecific T-cell engager (TCE) for a total transaction value of up to $750 million. GSK will pay an upfront sum, while Chimagen Biosciences will be eligible to receive milestone payments linked to drug development and commercialization.

The trispecific TCE is an engineered protein that brings T cells closer to tumor cells while simultaneously blocking immune checkpoints, thereby enhancing the ability to kill cancer cells and reducing off-target effects. GSK plans to develop this drug for the treatment of multiple myeloma, with phase I clinical trials expected to begin in 2027.

It is worth mentioning that this is the second trispecific TCE from Chimagen Biosciences acquired by GSK. In October 2024, GSK announced the acquisition of CMG1A46 from Chimagen Biosciences. This is a clinical-stage TCE targeting CD19 and CD20. GSK plans to develop and commercialize CMG1A46 for B-cell-driven autoimmune diseases such as systemic lupus erythematosus (SLE) and lupus nephritis (LN), with the possibility of extending to related autoimmune conditions. Under the terms of the agreement, GSK will pay $300 million upfront to obtain all global rights to CMG1A46. In addition, Chimagen Biosciences will be eligible for related development and commercialization milestone payments totaling $550 million.

The latest transaction announced on Tuesday is the newest step by GSK’s new CEO Luke Miels to push forward expansion of the company's oncology business. Luke Miels has pledged to expand GSK’s cancer portfolio in anticipation of patent expiry risks for its best-selling HIV drugs.

Earlier this year, GSK spent $10.6 billion to acquire Nuvalent, a developer of lung cancer drugs, marking the company's largest acquisition in more than a decade. In October 2025, the U.S. Food and Drug Administration (FDA) approved GSK’s blood cancer drug Blenrep for use in combination therapy, allowing the drug to return to the market after nearly three years of withdrawal.