GSK (GSK.US) strengthens its oncology pipeline with up to $750 million acquisition of Enmou Bio's trispecific TCE targeting multiple myeloma

According to Zhitong Finance APP, GlaxoSmithKline (GSK.US) announced on Tuesday that it has reached an agreement with Chinese biotech company Chimagen Biosciences to acquire the global rights to a trispecific T-cell engager (TCE) from the latter for a total transaction value of up to $750 million. GlaxoSmithKline will pay an upfront payment, while Chimagen Biosciences will be eligible to receive milestone payments tied to drug development and commercialization.