GSK plc has agreed to acquire 35Pharma Inc., a privately held Canadian biopharmaceutical company focused on protein-based therapeutics. The deal brings into GSK’s pipeline HS235, an investigational therapy that could emerge as a best-in-class treatment for pulmonary hypertension (PH), a progressive and life-threatening condition.
HS235 has already completed Phase I clinical trials in healthy volunteers and is set to enter studies in patients with pulmonary arterial hypertension (PAH) and pulmonary hypertension due to heart failure with preserved ejection fraction (PH-HFpEF). These forms of PH are characterized by elevated blood pressure in the lungs, leading to breathlessness, fatigue, chest pain and, ultimately, heart failure as the disease advances.
Pulmonary hypertension affects an estimated 82 million people worldwide across multiple disease types. Despite its prevalence, treatment options remain limited, and the five-year survival rate is approximately 50 percent. The global market for PH therapies is projected to reach $18 billion by 2032, with activin signalling inhibitors expected to account for roughly half of that total.
HS235 targets the activin receptor signalling pathway, a clinically validated mechanism in PH. The therapy has been engineered for enhanced selectivity, reducing its binding to BMP9 and BMP10—ligands associated with adverse effects such as bleeding and telangiectasia. By potentially lowering bleeding risk, HS235 may offer a meaningful advantage over existing treatments, particularly since many PH patients require anticoagulant or antiplatelet therapies that can further increase bleeding complications.
Beyond its cardiovascular focus, HS235 may provide additional metabolic benefits. Early clinical findings suggest the therapy could promote fat-selective weight loss, preserve lean muscle mass and improve insulin sensitivity. Observed improvements in inflammatory markers and adipokines—hormones produced by fat tissue—indicate broader metabolic effects. These attributes could be especially valuable given the high rates of obesity and insulin resistance among PH patients.
Tony Wood, Chief Scientific Officer at GSK, said the acquisition strengthens the company’s pipeline in diseases affecting the lung, liver and kidney. He highlighted HS235’s differentiated profile, noting its potential to reduce bleeding risk while also delivering metabolic and vascular benefits. According to Wood, the drug’s mechanism could support broader development opportunities across metabolic, inflammatory and fibrotic diseases.
Ilia Tikhomirov, CEO of 35Pharma, described the transaction as an opportunity to advance HS235 within a global organization with deep expertise in respiratory and inflammatory diseases. He pointed to recent scientific advances in understanding PH and expressed confidence that the collaboration could help transform treatment for patients with the debilitating condition.
The acquisition reflects GSK’s continued focus on innovative therapies targeting high unmet medical needs in chronic and life-threatening diseases.