GSK acquires Chimagen's multiple myeloma drug candidate for up to $750 million

On September 15, 2026, UK-based drugmaker GSK announced plans to acquire a multiple myeloma drug candidate, a T-cell engager for blood cancer, from China-based Chimagen Biosciences for up to $750 million. This agreement follows a licensing pact established between the two companies two years prior. The transaction occurs amid a record run of China-origin biotechnology deals, which is raising questions regarding how the United States should respond to China's rapid gains in the sector.

GSK-Chimagen multiple myeloma acquisition

• ▪Biotechnology deals originating from China are experiencing a record run as of September 15, 2026
• ▪GSK announced plans on September 15, 2026, to acquire a multiple myeloma drug candidate from China-based Chimagen Biosciences for up to $750 million
• ▪The rapid gains and record run of China-origin biotechnology deals have prompted questions regarding how the United States should respond
• ▪The multiple myeloma drug candidate acquired by GSK from Chimagen Biosciences is a T-cell engager designed to treat blood cancer
• ▪The September 15, 2026 agreement represents a new deal following a licensing pact that GSK and Chimagen Biosciences first announced two years prior