GSK PLC (LSE:GSK, NYSE:GSK) has announced plans to acquire the US biotech company IDRx for up to $1.15bn, including $1bn upfront, in a bid to expand its portfolio of cancer therapies.
The deal includes IDRX-42, a promising drug designed to treat gastrointestinal stromal tumours (GIST), a rare and aggressive form of cancer that develops in the digestive tract.
IDRX-42 is a targeted therapy focused on mutations in the KIT gene, which drive tumour growth in most GIST cases.
Unlike existing treatments, the drug has shown potential to tackle the full range of these mutations, including those responsible for resistance to standard therapies.
Clinical trials have so far shown encouraging results, with improved tumour response rates and fewer side effects.
GIST affects tens of thousands of people worldwide each year, but treatment options remain limited, particularly for patients whose cancer returns after initial therapy.
GSK said the acquisition reflects its focus on addressing gaps in care where there is significant unmet need.
"We are excited by the early data from IDRX-42 and its unique ability to target all clinically relevant KIT mutations present in GIST, a major gap in the current standard of care. We look forward to accelerating its development in 2025 to redefine treatment," said Tony Wood, GSK’s chief scientific officer.
The acquisition adds to GSK’s growing research efforts in gastrointestinal cancers and strengthens its pipeline of innovative treatments. The deal, which includes regulatory milestone payments, is expected to close once US competition authorities approve it.