GSK moved deeper into antibody-drug conjugates by securing ex-China rights to Hutchmed’s HMPL-A830 under a deal valued at up to $1.295 billion. The preclinical asset pairs an anti-EGFR antibody with a small-molecule KRAS inhibitor payload, designed to deliver the inhibitor directly to EGFR-expressing tumors and block EGFR and KRAS signaling. GSK will pay $110 million upfront, with additional payments tied to development and commercialization milestones, plus royalties. The dual mechanism is meant to combine receptor targeting with downstream pathway inhibition in tumors where KRAS signaling drives growth. The transaction underscores that competitive ADC development is increasingly leaning on novel payload strategies, particularly where pathway biology supports a targeted “drug delivery plus pharmacology” thesis. It also extends GSK’s partner-driven growth model in oncology payload research while expanding its geographic coverage through ex-China rights.