GSK Signs $750m Chimagen TCE Deal for Multiple

GSK has secured global rights to Chimagen Biosciences’ trispecific T-cell engager (TCE) for multiple myeloma in a licensing agreement worth up to $750 million. Announced on 15 September 2026, the deal marks GSK’s renewed strategic push into oncology under CEO Luke Miels, and follows the British pharma’s 2015 exit from the therapeutic area. GSK plans to advance the TCE to Phase I trials in 2027.

Under the agreement, GSK receives full global rights to the currently unnamed TCE programme in exchange for an undisclosed upfront fee and potential development and commercial milestone payments, with total deal value reaching up to $750 million. This is the second licensing deal between the two companies, following a 2024 agreement for CMG1A46, a TCE designed to treat B cell-driven autoimmune diseases. TCEs are a type of immunotherapy that direct the body’s immune system to destroy tumour cells, and are increasingly recognised as a strategic modality across oncology drug development.

Multiple myeloma is the third most common blood cancer globally, with the US TCE market in the indication projected to exceed $10 billion by 2032. The deal follows a wave of TCE transactions from Bristol Myers Squibb, Gilead (Ouro Medicines/Galapagos gamgertamig) and UCB ($2.2bn Candid Therapeutics acquisition), alongside strong efficacy data from Johnson & Johnson’s Tecvayli (teclistamab) and Talvey (talquetamab). GSK now aims to expand its oncology franchise beyond blood and women’s cancers into lung, gastrointestinal and other solid tumours through ADCs, TCEs and tyrosine kinase inhibitors (TKIs).

The commercial signal is a rapidly consolidating T-cell engager oncology category where major pharma is aggressively deploying capital in pursuit of multiple myeloma leadership. The global immuno-oncology market is projected to grow to $186 billion by 2031 per GlobalData. Expect Bristol Myers Squibb, Gilead, UCB, Johnson & Johnson (Tecvayli, Talvey), Regeneron and AstraZeneca to sharpen TCE positioning through 2027.

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