GSK to Acquire IDRx in Deal Worth Up To $1.15bn

On Monday, GSK (LON: GSK) announced an acquisition agreement with IDRx, Inc., a Boston-based clinical-stage biopharmaceutical company, for up to $1.15 billion. 

The deal includes an upfront payment of $1 billion and a potential additional $150 million based on regulatory milestones. It will see GSK fully acquiring IDRx and its lead molecule, IDRX-42.

IDRX-42 is a highly selective KIT tyrosine kinase inhibitor (TKI) developed for the treatment of gastrointestinal stromal tumours (GIST), explained GSK. 

It is said to be designed to target all primary and secondary KIT mutations that drive tumour growth and resistance in GIST, a critical unmet need in current cancer therapies.

Luke Miels, GSK’s Chief Commercial Officer, commented: “IDRX-42 complements our growing portfolio in gastrointestinal cancers. This acquisition is consistent with our approach of acquiring assets that address validated targets and where there is clear unmet medical need, despite existing approved products.”

Clinical data from an ongoing phase I/Ib StrateGIST 1 trial has reportedly shown encouraging results, with IDRX-42 showing “promising anti-tumour activity of IDRX-42 in patients with advanced GIST with a manageable safety profile.”

“We are looking forward to working with GSK to advance IDRX-42 for patients with GIST given there have been no major advances to the standard of care for almost 20 years,” said Tim Clackson, CEO of IDRx. “Combining our experience to date with GSK's expertise in GI cancers, global clinical development capability, and strong commercial presence in oncology will help to accelerate the development of this novel medicine for patients.”