GSK announced on February 24 its third acquisition of 2026 with the purchase of 35Pharma Inc., a clinical-stage biopharmaceutical company. The purchase price is $950 million CAD (approximately $693 million USD).
Based in Montreal, Canada, 35Pharma develops novel transforming growth factor-beta superfamily therapeutics. 35Pharma’s lead candidate, HS235, is being developed for the treatment of cardiopulmonary diseases with clinical trials initiated in pulmonary arterial hypertension and PH due to heart failure with preserved ejection fraction.
GSK Plc, formerly GlaxoSmithKline plc, is a British multinational pharmaceutical and biotechnology company with global headquarters in Brentford, England. According to its 2025 annual report, the company generated £32.67 billion (approximately $42.79 billion in revenue throughout the year.
Centerview Partners LLC acted as financial advisor to 35Pharma, Cooley LLP served as U.S. legal counsel and Stikeman Elliott LLP as Canadian legal counsel. J.P. Morgan Securities LLC also provided financial advice to 35Pharma.
Previously in 2026, the company acquired Rapt Therapeutics, Inc. for $2.2 billion, as well as Alteogen’s ALT-B4 for $20 million. In 2025, GSK announced two acquisitions, too.
According to data captured in the LevinPro HC database, this deal marks the 20th Biotechnology acquisition of the year.
