11:08 AM EST, 01/08/2025 (MT Newswires) -- (Updates with deal timing in the second paragraph and IDRx backers in the third.)

GSK (GSK) is in advanced discussions to acquire closely held US biotech company IDRx for up to $1 billion, the Financial Times reported Wednesday, citing people close to the talks.

The companies are expected to announce a deal ahead of the JPMorgan health-care conference in San Francisco next week, the report said. The deal may fall through or another suitor for IDRx might emerge, the Times said.

IDRx's backers include venture capital firms Andreessen Horowitz and RA Capital and private-equity giant Blackstone (BX), the report said. The biotech firm is developing a treatment for rare gastrointestinal tumors.

GSK declined to comment, and IDRx didn't immediately respond to a request for comment, the Times said.

GSK, IDRx, Blackstone, Andreessen Horowitz and RA Capital didn't immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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