GSK agreed to acquire global rights to a preclinical trispecific T-cell engager from Chimagen Biosciences in a deal worth up to $750 million. The transaction follows GSK’s prior Chimagen licensing activity and extends its China-focused immuno-oncology strategy. Under the terms, GSK will pay an undisclosed upfront fee and make development and commercial milestone payments. The company plans to develop and commercialize the TCE for multiple myeloma, with a Phase I trial expected to start in 2027. The structure shows how large pharma is continuing to build multi-specific immuno-oncology pipelines through China-origin targets and platforms, betting on differentiated binding architecture to improve depth and durability of responses.