GSK purchases 35Pharma for $950M to expand into pulmonary hypertension

GlaxoSmithKline February entry into an agreement to acquire Canadian clinical-stage biotech 35Pharma Inc. for $950 million in cash, is expanding its respiratory and cardiovascular pipeline, according to regulatory filings and the company’s announcement.

The acquisition gives GSK full ownership of HS235, an investigational activin signalling inhibitor that completed Phase 1 trials and is now poised to enter further clinical studies for pulmonary arterial hypertension (PAH) and related cardiopulmonary conditions.

GSK’s strategy under new leadership includes targeted deals that address therapeutic areas with significant patient populations and unmet needs. The HS235 programme — which may offer advantages in safety and metabolic effects compared with existing therapies — aligns with GSK’s broader push into specialty respiratory and cardiometabolic markets.

This GSK-35Pharma deal carries several implications:

• It reinforces GSK’s willingness to deploy capital strategically in early-stage assets with clear clinical pathways.

• It diversifies the pipeline at a time when revenue pressure from patent expiries remains a concern for large pharma.

• It signals that mid-tier acquisitions remain attractive levers for pipeline replenishment.

This move, alongside GSK’s other recent deals, illustrates how large pharmaceutical companies use focused acquisitions to fill specific therapeutic gaps without overcommitting to large blockbuster bets.