The Zhitong Finance App learned that GlaxoSmithKline (GSK.US) announced on Tuesday that it has reached an agreement with Chinese biotech company Chimagen Biosciences (Chimagen Biosciences) to acquire the latter's global interests in a three-specific T-cell conjugator (TCE) with a total transaction amount of up to 750 million US dollars. GlaxoSmithKline will pay an advance payment, and Enmu Biotech will be eligible for payments linked to drug development and commercialization milestones.
Tri-specific TCE is an engineered protein that brings T cells closer to tumor cells and blocks immune checkpoints, thereby enhancing the ability to kill cancer cells and reducing off-target effects. GlaxoSmithKline plans to develop this drug to treat multiple myeloma, and phase I clinical trials are expected to begin in 2027.
It is worth mentioning that this is the second Enmu Biotech three-specific TCE acquired by GlaxoSmithKline. In October 2024, GlaxoSmithKline announced the acquisition of CMG1A46 from Enmu Biotech. This is a clinical-stage CD19 and CD20 targeting TCE. GlaxoSmithKline plans to develop and commercialize CMG1A46 for B-cell-driven autoimmune diseases such as systemic lupus erythematosus (SLE) and lupus nephritis (LN), and possibly extend to related autoimmune diseases. Under the terms of the agreement, GlaxoSmithKline will pay $300 million in advance to obtain the full global rights of CMG1A46. Additionally, Enmu Biotech will be eligible for related development and commercialization milestone payments totaling US$550 million.
The latest deal announced on Tuesday is the latest step in GlaxoSmithKline's new CEO Luke Miels in expanding the oncology business. Luke Miels has promised to expand GlaxoSmithKline's cancer business to address the impending patent expiration risk of its best-selling HIV drug.
Earlier this year, GlaxoSmithKline spent $10.6 billion to acquire lung cancer drug developer Nuvalent, the company's largest acquisition in more than a decade. In October 2025, the US Food and Drug Administration (FDA) approved GlaxoSmithKline's hematologic cancer drug Blenrep for use in a combination treatment plan, so that the drug was re-marketed after being out of the market for nearly three years.