HUTCHMED has entered an exclusive development and license agreement with a GSK subsidiary for HMPL-A830, an investigational antibody-targeted therapy conjugate intended for cancers with KRAS alterations, in a deal that could be worth up to $1.295 billion plus royalties.
The agreement provides HUTCHMED with a $110 million upfront payment, payable at closing, and up to $1.185 billion in development, regulatory and commercial milestones. A GSK subsidiary will also pay tiered royalties on annual net sales if products are commercialized.
The transaction remains subject to customary closing conditions, including completion of any required antitrust reviews.
GSK receives worldwide rights to develop and commercialize HMPL-A830 outside Mainland China, Hong Kong, Macau and Taiwan. HUTCHMED will retain full development and commercialization rights in those territories.
HMPL-A830 is designed to treat colorectal, pancreatic and lung cancers, which HUTCHMED said have high incidence of tumors carrying KRAS alterations. The treatment combines a selective KRAS small-molecule inhibitor payload with an antibody targeting epidermal growth factor receptor, or EGFR.
The antibody-guided approach is intended to deliver the KRAS inhibitor to tumors expressing EGFR while also blocking EGFR and KRAS signaling. HUTCHMED said the therapy is designed to improve tumor selectivity, efficacy, durability and tolerability compared with existing treatment approaches for KRAS-altered cancers.
HUTCHMED will oversee the global Phase I development program, which is expected to begin in the second half of 2026. GSK will assume responsibility for subsequent clinical development and commercialization outside HUTCHMED’s retained territories.
The companies did not provide details on trial design, planned enrollment, the timing of initial clinical data or potential regulatory submissions.
HUTCHMED described HMPL-A830 as its third drug candidate from its antibody-targeted therapy conjugate payload platforms and the first from the platform licensed to a global partner. Two other candidates from the platform have entered clinical development, the company said.
The deal also gives GSK a right of first negotiation for an earlier-stage HUTCHMED antibody-targeted therapy conjugate candidate.
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