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GSK Acquires IDRx for Up to $1.15 Billion, Targeting GIST with IDRX-42

Jan 13, 2025, 08:36 AM

GSK has agreed to acquire 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 potential additional payments of $150 million upon achieving regulatory milestones. The acquisition is aimed at bolstering GSK's portfolio in gastrointestinal (GI) cancers, specifically targeting gastrointestinal stromal tumors (GIST) with IDRx's lead molecule, IDRX-42. This highly selective KIT tyrosine kinase inhibitor (TKI) is designed to address all key KIT mutations in GIST, offering potential improvements in outcomes and tolerability over current therapies. IDRx, based in Plymouth, MA, is currently conducting a Phase 1 trial for IDRX-42. The drug has received Fast Track and Orphan Drug designations from the U.S. Food and Drug Administration. Investors in IDRx include RA Capital, A16z, Casdin, Curie, and Blackstone. The transaction supports GSK's growth strategy through 2031 and beyond, aligning with its focus on addressing unmet medical needs in oncology.