FDA official announcements and GSK press releases

GSK Acquires IDRx for $1 Billion and $150 Million Earnout to Boost IDRX-42 for Gastrointestinal Cancers

Jan 13, 2025, 07:50 AM

GSK has announced its agreement to acquire IDRx, Inc., a clinical-stage biotech company based in Plymouth, Massachusetts, for an upfront payment of $1 billion. The deal, which could reach a total of $1.15 billion including potential milestone payments of up to $150 million, aims to enhance GSK's portfolio in cancer treatments. IDRx is currently developing IDRX-42, a drug in Phase 1 trials targeting gastrointestinal stromal tumors (GIST) and other gastrointestinal cancers. GSK's Chief Scientific Officer, Tony Wood, expressed enthusiasm for the early data from IDRX-42, highlighting its ability to address clinically relevant KIT mutations, which are a significant gap in current treatment options. This acquisition aligns with GSK's strategy to address critical patient needs in the oncology space.