Pharma BD Deal Intelligence
GSK plc / 35Pharma Inc.
2026 · Acquisition/Merger · $950M · Complete
GSK agreed to acquire Montreal-based, privately held clinical-stage biopharmaceutical company 35Pharma for US$950 million in cash. The lead asset HS235 is a protein-based inhibitor of activin receptor signalling -- a clinically validated pathway in pulmonary hypertension -- engineered for enhanced selectivity intended to reduce the bleeding, pericardial effusion and dose-limiting haemoglobin increases that constrain existing activin-directed PAH therapy. Early clinical work also showed metabolic effects including fat-selective weight loss with preservation of lean mass. The acquisition completed on 15 April 2026.
This deal is too recent to grade. Critic Score and Outcome Score are assigned after the announcement-week coverage settles and, for Outcome, after the 5-year post-close assessment window opens — expected 2031 at the earliest for this deal.
Key facts
- Announced Feb 25, 2026
- Closed Apr 15, 2026
- Deal value $950M
- Deal type Acquisition/Merger
- Therapeutic area Cardiovascular, Respiratory
- Indications Pulmonary hypertension, Pulmonary arterial hypertension
- Key assets HS235, a clinical-stage protein-based activin signalling inhibitor for pulmonary hypertension
- Mechanism Selective inhibition of activin receptor signalling
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More: 2026 deals · GSK plc deals · Cardiovascular deals