GSK in advanced talks to purchase U.S. biotech IDRx, FT reports

GSK (GSK) is in advanced discussions to purchase privately-owned U.S. biotech IDRx, which is working on a treatment for rare gastrointestinal tumors, the Financial Times’ Oliver Barnes and Hannah Kuchler report, citing people close to the talks. IDRx, whose backers include Andreessen Horowitz, RA Capital and Blackstone (BX), was last valued at $430M at a funding round in August, could be sold for up to $1B.

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