GSK has announced a definitive agreement to acquire IDRx, a US-based biotechnology company specialising in treatments for gastrointestinal cancers, for up to $1.15bn in cash, marking the first deal of the 2025 JP Morgan Healthcare Conference.
The deal – which includes an upfront payment of $1bn and an additional $150m tied to regulatory milestones – underscores GSK’s strategy to bolster its oncology portfolio.
Under the acquisition, GSK will take full ownership of IDRx, including all outstanding equity interests and incentive equity. The transaction also transfers responsibility to GSK for milestone payments and tiered royalties associated with IDRx’s lead drug candidate, IDRX-42, originally licensed from MSD in 2022.
IDRX-42 is a selective tyrosine kinase inhibitor (TKI) designed to treat gastrointestinal stromal tumours (GIST) by targeting all major KIT mutations, which are critical drivers of the disease. Unlike existing TKIs, IDRX-42 has the potential to inhibit the complete spectrum of clinically relevant primary and secondary KIT mutations, a gap in the current standard of care.
In August 2024, Boston-headquartered IDRx secured $120m in a Series B funding round to fund the clinical development of IDRX-42. The candidate has received orphan drug designation from the US Food and Drug Administration (FDA) for the treatment of GIST and is currently being evaluated in the Phase I/IIb StrateGIST 1 trial (NCT05489237).
Preliminary trial results suggest promise – among patients with metastatic or surgically unresectable GIST, the overall response rate was 29% across all KIT mutation subsets, including one complete response and 24 partial responses. For patients who received one prior line of therapy, the overall response rate was 53%.
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By GlobalDataTKIs have demonstrated significant commercial potential in oncology. For example, AstraZeneca’s Tagrisso (osimertinib), approved for non-small cell lung cancer (NSCLC), generated $5.8bn in sales in 2023 while Novartis’ Gleevec, another leading TKI, earned $561m in 2023, as per both companies’ financials.
IDRX-42 adds to GSK’s existing gastrointestinal cancer programmes, which include ongoing clinical trials with checkpoint inhibitor Jemperli (dostarlimab) and the B7-H3-targeted antibody-drug conjugate GSK5764227. The acquisition also builds on GSK’s recent oncology-focused investments such as the 2022 purchase of Sierra Oncology for $1.9bn.
In the announcement accompanying the acquisition, GSK’s chief commercial officer Luke Miels said: “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.”
GSK is due to present at the JP Morgan Healthcare Conference 2025 on 14 January. The conference is taking place in San Francisco, US, between 13 and 16 January.
