UK pharma major GSK (LSE: GSK) is to acquire IDRx, a Boston, USA-based, clinical-stage biopharma developing precision therapeutics for the treatment of gastrointestinal stromal tumors (GIST).
Under the agreement, GSK will pay $1 billion upfront, with potential for an additional $150 million in success-based regulatory approval milestone payment.
The acquisition includes lead molecule, IDRX-42, a highly selective KIT TKI being developed as a first- and second-line therapy for the treatment of GIST.
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