GSK agreed to license Hutchmed’s HMPL-A830, an antibody-targeted therapy conjugate combining an EGFR-directed antibody with a small-molecule KRAS inhibitor payload. The deal is valued up to $1.295 billion, including a $110 million upfront payment and potential development, regulatory, and commercial milestones, plus royalties, as GSK looks to expand its oncology pipeline with antibody-drug conjugate-adjacent modalities. Hutchmed retains rights in Mainland China, Hong Kong, Macau, and Taiwan, while GSK will pursue worldwide development in licensed territories. GSK’s subsidiary will take over subsequent clinical development and commercialization after Hutched oversees global Phase 1 work, with trial initiation expected in the second half of 2026. HMPL-A830 is designed for tumors expressing EGFR while simultaneously suppressing EGFR and KRAS signaling. The asset’s early positioning in colorectal, pancreatic, and lung cancers reflects a strategy to marry defined oncogenic targets to tissue-selective delivery, an approach that has become increasingly central to how large pharma de-risks oncology programs beyond traditional small molecules.