GSK to buy US biotech firm IDRx for up to $1.15 billion

January 13 (Reuters) – British drugmaker GSK (GSK.L), opens new tab said on Monday that it would pay up to $1.15 billion to buy Boston-based biopharmaceutical firm IDRx, which is developing a treatment for a rare type of tumour.

The company would make an upfront payment of $1 billion. The acquisition is expected to enhance GSK’s portfolio in gastrointestinal cancers by adding IDRX-42, a selective KIT tyrosine kinase inhibitor designed to treat gastrointestinal stromal tumours (GIST). IDRX-42 has sown promising results in targeting key KIT mutations, offering potential to acquire assets addressing validated targets and unmet medical needs, reinforcing its position in the oncology sector.

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