GSK agreed to license Hutchmed’s HMPL-A830, a dual-mode KRAS/EGFR cancer therapy conjugate, in a deal valued up to $1.295 billion. The agreement grants GSK’s subsidiary global rights to develop and commercialize HMPL-A830, with Hutchmed retaining rights in Mainland China, Hong Kong, Macau, and Taiwan. GSK will pay $110 million upfront for the preclinical asset, with additional development, regulatory, and commercial milestone payments and tiered royalties. Initial development is expected to focus on colorectal, pancreatic, and lung cancer, with Phase I planned to begin in the second half of 2026.