Quick exit for Idrx shareholders as GSK pays $1B to get GIST asset

Less than 30 months after Idrx emerged from stealth mode, GSK is acquiring the private start-up for $1 billion up front to gain its sole clinical asset: a c-Kit inhibitor that has shown early signs of efficacy in GIST.

The agreement will give GSK plc (LSE:GSK; NYSE:GSK) selective c-Kit-targeting molecule IDRX-42, currently in a Phase I/Ib study. Idrx had gained rights to the therapy from Merck KGaA (Xetra:MRK) before its August 2022 launch...