We are advising GSK on the transaction

Davis Polk is advising GSK plc on its acquisition of IDRx, Inc., including lead molecule IDRX-42, for up to $1.15 billion of total cash consideration, comprising an upfront payment of $1 billion with potential for an additional $150 million success-based regulatory approval milestone payment. The transaction is subject to customary conditions, including applicable regulatory agency clearances under the Hart-Scott-Rodino Act. 

GSK is a global biopharma company with a purpose to unite science, technology and talent to get ahead of disease.

IDRx is a clinical-stage biopharmaceutical company dedicated to transforming cancer care with intelligently designed precision therapies. IDRx aims to address the limitations of today’s precision cancer medicines with highly potent and selective targeted therapies to stop key tumor escape mechanisms and prolong response to therapy. IDRX-42 is a highly selective KIT TKI being developed as a first- and second-line therapy for the treatment of gastrointestinal stromal tumors (GIST).

The Davis Polk corporate team includes partners William J. Chudd and Daniel Brass and associate Samuel Liebmann. Partner David R. Bauer and associate Adrian Rabin are providing intellectual property advice. Partners Jennifer S. Conway and associate Chloe Wang are providing executive compensation advice. Partners Howard Shelanski and Jesse Solomon are providing antitrust and competition advice. Partner William A. Curran is providing tax advice. Members of the Davis Polk team are based in the New York and Washington DC offices.  

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