GSK agreed to acquire global rights to a preclinical trispecific T-cell engager from Chimagen Biosciences in a deal worth up to $750 million, extending its China-focused licensing strategy in oncology. The candidate is positioned for Phase 1 entry in 2027 and GSK will handle development and commercialization. The agreement marks a second transaction with Chimagen in less than two years and aligns with GSK’s push across multiple therapeutic areas while keeping oncology as a core pillar. For investors and competitors, the structure underscores how big pharma continues to tap China-based innovators for early assets, using large milestone stacks to de-risk clinical entry and expand modality breadth beyond bispecifics.