GSK took ex-China rights to Hutchmed’s HMPL-A830 in a deal worth up to $1.295 billion, plus royalties, as the UK pharma deepens its push into antibody–drug conjugate (ADC) and related conjugate platforms. GSK will pay $110 million upfront for the preclinical dual-mode-of-action asset, which links an anti-EGFR antibody to a small-molecule KRAS inhibitor payload. The construct is designed to deliver the inhibitor to EGFR-expressing tumors while blocking both EGFR and KRAS signaling pathways. The agreement reflects continued partner interest in precision oncology payload delivery systems and the ongoing effort by large pharma to build scalable programs around both targets and delivery mechanisms. For Hutchmed, it validates the strategic value of its antibody conjugate pipeline outside home-market rights, while for GSK it diversifies a development portfolio around next-generation targeted therapies.