UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR
15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the
month of February 2026
Commission
File Number 001-15170
GSK plc
(Translation
of registrant's name into English)
79 New Oxford Street, London, WC1A 1DG
(Address
of principal executive office)
Indicate
by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form
20-F . . . .X. . . . Form 40-F . . . . . . . .
Issued: 25 February 2026, London UK
GSK enters agreement to acquire 35Pharma Inc.
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Acquisition
includes HS235, a potentially best-in-class activin signalling
inhibitor in clinical development for treatment of cardiopulmonary
diseases
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HS235
offers potential to treat pulmonary hypertension (PH) patients
while reducing the risk of bleeding and providing unique metabolic
benefits compared to existing therapies
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HS235's
profile bolsters an emerging pipeline of products with protective
benefits on metabolic and vascular function, providing scalable
opportunities in GSK's Respiratory, Immunology and Inflammation
(RI&I) portfolio
GSK plc (LSE/NYSE: GSK) today announced that it has entered an
agreement to acquire 35Pharma Inc., a Canada-based, private,
clinical-stage biopharmaceutical company specialised in the
development of novel protein-based therapeutics. The acquisition
includes HS235, a potential best-in-class investigational medicine
that has completed phase I healthy volunteer clinical trials with
studies to start imminently in pulmonary arterial hypertension
(PAH) and pulmonary hypertension due to heart failure with
preserved ejection fraction (PH-HFpEF).
PH is a progressive, life-shortening disease marked by high blood
pressure in the lungs. Early symptoms are breathlessness, fatigue
and chest pain leading to heart failure as the disease progresses.
It affects approximately 82 million people worldwide across
multiple disease forms, yet treatment options remain limited and
the five-year survival rate is only around
50%.1,2 By
2032, the global market for PH therapies is forecast to reach $18
billion, with activin signalling inhibitors expected to account for
50% of this.3
HS235 targets the activin receptor signalling pathway, a clinically
validated therapeutic target in PAH. HS235 is designed with
enhanced selectivity, reducing binding to BMP9 and BMP10 - ligands
associated with adverse events such as bleeding and telangiectasia
(broken blood vessels). By potentially lowering the risk of
bleeding, HS235 may address a key limitation in current PH
treatment, particularly as a significant proportion of patients
require concomitant anticoagulant or antiplatelet
therapy.
The underlying mechanism of HS235 offers the potential for broad
metabolic benefits, including fat-selective weight loss,
preservation of lean mass, and improved insulin sensitivity,
supported by beneficial changes in inflammation and adipokines (fat
hormones) observed in early clinical studies. These attributes may
offer additional clinical and commercial value given the high
prevalence of obesity and insulin resistance in the PH
population.
Tony Wood, Chief Scientific Officer, GSK, said:
"Pulmonary hypertension affects millions of people worldwide, yet
patients are underserved. We're delighted to add HS235 to our
pipeline, a potential best-in-class medicine with a differentiated
profile to reduce risk of bleeding and provide potential metabolic
benefits clinically relevant to PH patients. HS235's potential
protective effects on vascular function, alongside potential
benefits on fat-derived markers of metabolism and inflammation,
also offer new development opportunities within our RI&I
portfolio to achieve broader coverage across the metabolic,
inflammatory, vascular and fibrotic drivers of multiple chronic
diseases that affect the lung, liver and
kidney."
Ilia Tikhomirov, CEO, 35Pharma, said: "In recent years, we witnessed a
revolution in our understanding of pulmonary hypertension and how
this life-threatening disease could be reversed. We are pleased to
be combining our efforts with GSK, a leader in respiratory and
inflammatory drivers of disease, who shares our vision of HS235's
potential to transform the treatment of this debilitating
condition."
Financial considerations
Under the terms of the agreement, GSK will acquire 100% of the
equity of 35Pharma Inc. for $950 million, payable in cash at
closing.
This transaction is subject to customary conditions, including
applicable regulatory agency clearances under the Hart-Scott-Rodino
Act in the US and the Competition Act in Canada, along with a
filing under the Investment Canada Act.
About pulmonary hypertension
There are different types of PH such as Pulmonary Arterial
Hypertension (PAH) and PH due to Heart Failure with preserved
Ejection fraction (PH-HFpEF). PH is treated in specialised academic
centres by pulmonologists and cardiologists, where PH programs sit
within larger lung, respiratory and critical care centres. Around
82 million people worldwide are affected by PH and in the US, the
addressable patient population for PAH and PH-HFpEF is
approximately 100,000 people.1,4,5
About 35Pharma Inc.
35Pharma is a clinical-stage biopharmaceutical company developing
novel TGF-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. For more
information visit www.35pharma.com
About GSK
GSK is a global biopharma company with a purpose to unite science,
technology, and talent to get ahead of disease together. Find out
more at www.gsk.com.
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GSK enquiries
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Media:
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Tim Foley
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Sarah Clements
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Lyndsay Meyer
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+1 202 302 4595
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(Washington DC)
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Investor Relations:
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Constantin Fest
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+44 (0) 7831 826525
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(London)
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James Dodwell
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+44 (0) 20 8047 2406
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Mick Readey
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Sam Piper
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Jeff McLaughlin
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Cautionary statement regarding forward-looking
statements
GSK cautions investors that any forward-looking statements or
projections made by GSK, including those made in this announcement,
are subject to risks and uncertainties that may cause actual
results to differ materially from those projected. Such factors
include, but are not limited to, those described in the "Risk
Factors" section in GSK's Annual Report on Form 20-F for 2024, and
GSK's Q4 Results for 2025.
Registered in England & Wales:
No. 3888792
Registered Office:
79 New Oxford Street
London
WC1A 1DG
References
1. Humbert, M. et al. (2022) 2022 ESC/ERS Guidelines for the
diagnosis and treatment of pulmonary hypertension, European Heart
Journal, 43(38), pp. 3618-3731.
doi:10.1093/eurheartj/ehac237.
2. Caravita S, Faini A, D'Araujo SC, et al. Clinical
phenotypes and outcomes of pulmonary hypertension due to left heart
disease: Role of the pre-capillary component. PLOS ONE.
2018;13(6):e0199164.
doi:10.1371/journal.pone.0199164.
3. Evaluate Pharma consensus estimate; accessed Feb
2026.
4. Leary, Peter J et al. The Lancet Respiratory Medicine, Volume
13, Issue 1, 69-79.
5. GSK Internal data.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorised.
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GSK plc
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(Registrant)
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Date: February
25, 2026
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By:/s/ VICTORIA
WHYTE
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Victoria Whyte
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Authorised
Signatory for and on
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behalf
of GSK plc
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