Oct. 20 Quick Takes: GSK adds ADC through Hansoh deal

GSK plc (LSE:GSK; NYSE:GSK) is taking another shot at antibody-drug conjugates after failing last year to convert an accelerated approval of first-in-class Blenrep belantamab mafodotin to full approval. A new licensing deal with Hansoh Pharma (HKEX:03692) gives the pharma development and commercialization rights outside of China and Taiwan to HS-20089, a B7-H4-targeting ADC. GSK will pay Hansoh $85 million up front, and the Chinese company is eligible for $1.5 billion in milestones and royalties. The ADC, which is in a Phase I trial in China, targets a protein overexpressed across multiple cancer types. The deal is the latest example of a Western company accessing ADC innovation from a Chinese biotech.

Abivax S.A. (Euronext:ABVX; NASDAQ:ABVX) fell $3.30 (28%) to $8.30 on Friday after the French immunology company raised $235.8 million in an offering of ADSs on NASDAQ and a concurrent private placement. The biotech sold a total of 20.3 million shares at a price of $11.60 per share. At June 30, Abivax had reported €114.4 million ($124.2 million) in cash and a six-month operating loss of €37.3 million. The biotech’s obefazimod is in Phase III testing for ulcerative colitis, with data expected in 1Q25. On Friday, Abivax fell €3.07 (26%) to €8.71 on Euronext...