GSK enters agreement to acquire IDRx for $1.15 Billion to strengthen cancer portfolio

UK pharmaceutical giant GSK has confirmed that it has signed an agreement to acquire the privately-held biotechnology company IDRx.

Under the terms of the agreement, GSK will make an upfront payment of $1 billion, with an additional $150 million in milestone payments contingent upon the successful progression of IDRx’s pipeline.

The acquisition includes IDRx’s experimental targeted therapy for a rare gastrointestinal cancer, which aligns with GSK’s expanding portfolio in gastrointestinal oncology.

According to Luke Miels, GSK’s Chief Commercial Officer, the drug complements their existing portfolio, which includes Jemperli (dostarlimab), an anti-PD-1 antibody in mid-to-late-stage development for colorectal cancer, and GSK5764227, a B7-H3-directed antibody-drug conjugate.

GSK highlighted that IDRX-42, the targeted therapy, addresses key KIT mutations that drive tumor growth and progression in gastrointestinal stromal tumors (GIST), affecting an estimated 4,000 to 6,000 people in…