GSK agreed to license Hutchmed’s HMPL-A830, a KRAS–EGFR antibody-targeted therapy conjugate, in a deal valued at up to $1.295 billion. GSK will pay $110 million upfront for rights to develop and commercialize outside mainland China, Hong Kong, Macau, and Taiwan, while Hutchmed keeps those regional rights. The asset links an anti-EGFR antibody with a KRAS small-molecule inhibitor payload and is designed to concentrate the payload in tumors expressing EGFR while blocking EGFR and KRAS signaling. GSK plans initial clinical development across colorectal, pancreatic, and lung cancer, with a Phase 1 start expected in the second half of 2026.