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GSK enters agreement to acquire 35Pharma
GSK plc has entered an agreement to acquire 35Pharma Inc. for $950 million in cash, gaining full ownership of the company and its investigational medicine HS235. HS235 is an activin signalling inhibitor in clinical development for cardiopulmonary diseases, specifically targeting pulmonary arterial hypertension and pulmonary hypertension due to heart failure with preserved ejection fraction, with potential benefits including reduced bleeding risk and metabolic improvements. This acquisition is expected to bolster GSK's Respiratory, Immunology and Inflammation portfolio, addressing a significant unmet need in the pulmonary hypertension market, which is projected to reach $18 billion by 2032. Disclaimer*
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[{"type":"text","content":"\n\n \nIssued: 25 February 2026, London UK\n \nGSK enters agreement to acquire 35Pharma Inc.\n \n· Acquisition includes HS235, a potentially best-in-class activin signalling inhibitor in clinical development for treatment of cardiopulmonary diseases\n· HS235 offers potential to treat pulmonary hypertension (PH) patients while reducing the risk of bleeding and providing unique metabolic benefits compared to existing therapies\n· HS235's profile bolsters an emerging pipeline of products with protective benefits on metabolic and vascular function, providing scalable opportunities in GSK's Respiratory, Immunology and Inflammation (RI&I) portfolio\n \n \n \n\nGSK plc (LSE/NYSE: GSK) today announced that it has entered an agreement to acquire 35Pharma Inc., a Canada-based, private, clinical-stage biopharmaceutical company specialised in the development of novel protein-based therapeutics. The acquisition includes HS235, a potential best-in-class investigational medicine that has completed phase I healthy volunteer clinical trials with studies to start imminently in pulmonary arterial hypertension (PAH) and pulmonary hypertension due to heart failure with preserved ejection fraction (PH-HFpEF).\n \nPH is a progressive, life-shortening disease marked by high blood pressure in the lungs. Early symptoms are breathlessness, fatigue and chest pain leading to heart failure as the disease progresses. It affects approximately 82 million people worldwide across multiple disease forms, yet treatment options remain limited and the five‑year survival rate is only around 50%.1,2 By 2032, the global market for PH therapies is forecast to reach $18 billion, with activin signalling inhibitors expected to account for 50% of this.3\n \nHS235 targets the activin receptor signalling pathway, a clinically validated therapeutic target in PAH. HS235 is designed with enhanced selectivity, reducing binding to BMP9 and BMP10 - ligands associated with adverse events such as bleeding and telangiectasia (broken blood vessels). By potentially lowering the risk of bleeding, HS235 may address a key limitation in current PH treatment, particularly as a significant proportion of patients require concomitant anticoagulant or antiplatelet therapy.\n \nThe underlying mechanism of HS235 of...