GSK buying biotech8 Jan 2025 16:00
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3.22pm: GSK (LON:GSK) cancer M&A
UK pharma giant GSK PLC (LSE:GSK, NYSE:GSK) is close to buying a US biotech, the FT is reporting.
It will pay $1 billion for startup IDRx, which was only founded in 2022, to boost its cancer drug business.
Backed by a raft of venture capital and private equity firms, the Massachusetts-based firm has been developing a treatment for gastrointestinal tumours.