GSK pays Hutchmed $110M upfront in deal worth up to $1.3B

GSK has agreed to pay Hutchmed $110 million upfront for global rights to HMPL-A830, an antibody-targeted therapy conjugate designed to deliver a KRAS inhibitor to EGFR-expressing solid tumors, with total potential milestones of up to $1.295 billion. The deal excludes Mainland China, Hong Kong, Macau and Taiwan, meaning Hutchmed retains development and commercialization rights in those territories, while GSK will assume R&D responsibilities and commercialization outside of the excluded regions. Hutchmed will lead Phase 1 trials, after which GSK will take over development and commercialization outside selected Asian territories, signaling a broad collaboration to advance a first-in-class oncology asset. The KRAS-EGFR dual mechanism aims to enhance efficacy and tolerability by simultaneously targeting KRAS signaling and EGFR, with initial focus on colorectal, pancreatic, and lung cancers that have high KRAS-altered tumor incidence. The collaboration underscores GSK’s strategic push in oncology and follows the broader industry trend of partnering on KRAS-targeted therapies after KRAS inhibitors gained recent clinical traction. Hutchmed’s stock movement reflected the deal’s significance, as investors reacted to the potential global reach and milestone upside of HMPL-A830.