Pharma BD Deal Intelligence
A failed alliance despite a $4.2B potential deal value. GSK and Merck KGaA's bintrafusp alfa collaboration for NSCLC and biliary tract cancer collapsed after multiple clinical trial failures, with the partnership terminated in September 2021—less than three years after signing.
Ranks computed across 828 graded deals (Critic + Outcome Score both present).
GSK's $4.2B bet on Merck KGaA's cancer drug goes up in smoke as pharmas cut ties.
GSK and Merck KGaA break up their $4 billion oncology collaboration after multiple clinical trial failures of bintrafusp alfa, ending a partnership that had…
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GSK and Merck KGaA formed a global immuno-oncology alliance to co-develop and co-commercialize bintrafusp alfa (M7824), a bifunctional TGF-beta trap/anti-PD-L1 fusion protein. GSK paid EUR 300M upfront with up to EUR 500M in development milestones and EUR 2.9B in approval/commercial milestones. The collaboration was terminated September 2021 after multiple clinical trial failures.
200K US cases/yr · $30.0B Global IO/NSCLC Market (2024)
NSCLC accounts for ~85% of lung cancers with ~200,000 new US cases/year. Immuno-oncology (checkpoint inhibitors) has transformed treatment. Bintrafusp alfa attempted to combine TGF-beta trapping with PD-L1 blockade but failed to improve on existing PD-1/PD-L1 monotherapies.
The GSK/Merck KGaA bintrafusp alfa alliance was terminated in September 2021 after multiple Phase III failures in NSCLC (INTR@PID Lung 037) and biliary tract cancer. The bifunctional approach failed to demonstrate superiority over pembrolizumab in first-line NSCLC. This was a significant setback for the TGF-beta combination hypothesis.
12K US cases/yr · $1.5B Global BTC Market (2024) · ~20% 5-Year Survival Rate
Biliary tract cancers (cholangiocarcinoma, gallbladder cancer) are rare, aggressive malignancies with limited treatment options. Approximately 12,000 new cases occur annually in the US. Immunotherapy and targeted therapies (FGFR inhibitors, IDH inhibitors) are expanding options.
Standard first-line: gemcitabine/cisplatin + durvalumab (TOPAZ-1). Targeted: pemigatinib/futibatinib (FGFR2 fusions), ivosidenib (IDH1 mutations). Bintrafusp alfa failed in BTC, but the TOPAZ-1 trial established immunotherapy as standard of care. Approximately 40% of BTC has actionable molecular targets.
GSK and Merck KGaA formed a global immuno-oncology alliance to co-develop and co-commercialize bintrafusp alfa (M7824), a bifunctional TGF-beta trap/anti-PD-L1 fusion protein. GSK paid EUR 300M upfront with up to EUR 500M in development milestones and EUR 2.9B in approval/commerc
Transaction terminated. e collaboration was terminated September 2021 after multiple clinical trial failures.
| Deal | Year | Value | Outcome |
|---|---|---|---|
| GSK plc / Merck KGaA (this deal) | 2019 | $4.2B | 29 |
| GSK plc / SmithKline Beecham | 2000 | $12.0B | 79 |
| GSK plc / Pfizer Inc. | 2018 | $0.0M | 77 |
| GSK plc / Novartis AG | 2014 | $16.0B | 76 |
| GSK plc / Hansoh Pharmaceutical Group Co. Ltd. | 2023 | $1.7B | 74 |
| GSK plc / Nuvalent, Inc. | 2026 | $10.6B | 70 |
| GSK plc / Sierra Oncology Inc. | 2022 | $1.9B | 70 |
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