GSK has agreed to acquire Canadian biopharmaceutical company 35Pharma for approximately $950 million in cash. The deal secures 35Pharma’s clinical-stage drug candidate HS235, which is being developed to treat pulmonary hypertension, a serious condition characterised by high blood pressure in the lungs that can lead to heart failure. HS235 has completed early trials and is expected to enter patient studies soon. GSK believes the medicine could offer safety and metabolic advantages over current treatments, such as reduced bleeding risk and improved insulin sensitivity.

This transaction reflects a strategic focus by GSK’s leadership on adding science-validated mid-stage assets that address areas of high unmet need and promise strong long-term value. It is one of the first major deals under CEO Luke Miels and follows GSK’s acquisition of RAPT Therapeutics earlier this year as part of a broader push to expand its respiratory, immunology and inflammation portfolio. If regulatory approvals are obtained, the acquisition will help diversify GSK’s pipeline and support its growth objectives. HS235 may reach patients in the early 2030s if development proceeds as planned.