08:42 AM EDT, 10/29/2024 (MT Newswires) -- GSK (GSK) said Tuesday that it has agreed to acquire Chimagen Biosciences' CMG1A46, a potential drug candidate to treat lupus and other autoimmune diseases, for $300 million.

Under the terms of the deal, GSK will pay $300 million upfront to acquire full worldwide rights to CMG1A46. Meanwhile, Chimagen will be eligible to receive as much as $550 million in success-based development and commercial milestone payments for CMG1A46.

GSK said CMG1A46 is currently in early-stage clinical trials in patients with leukemia and lymphoma in the US and China, and that it hopes to begin an early-stage trial in patients with lupus in 2025s.

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