Biopharmaceutical company GSK plc (LSE: GSK) (NYSE: GSK) reported on Wednesday that it has completed the acquisition of 35Pharma Inc, a Canada-based clinical-stage biopharmaceutical company focused on protein-based therapeutics. The deal includes HS235, a potential best-in-class treatment for pulmonary hypertension (PH), targeting the activin receptor signalling pathway.

HS235 is designed with enhanced selectivity, with the potential to reduce risks associated with existing therapies, including bleeding, pericardial effusion and increases in haemoglobin. Early clinical findings also suggest broader metabolic benefits, such as fat-selective weight loss, preservation of lean mass and improved insulin sensitivity, which could expand its clinical and commercial potential.

The acquisition strengthens GSK's research and development pipeline, complementing its focus on inflammatory and fibrotic drivers of chronic disease and supporting expansion across lung, liver and kidney indications. Proof-of-concept trials for HS235 are expected to begin shortly in pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with heart failure with preserved ejection fraction (PH-HFpEF).

Under the terms of the agreement, GSK acquired 100% of 35Pharma Inc. for USD950m. The global market for PH therapies is projected to reach USD18bn by 2032, with activin signalling inhibitors expected to account for approximately half of the market.