GSK said it will acquire privately held biotech company IDRx in a transaction valued at up to $1.15 billion, strengthening its oncology pipeline with a drug candidate aimed at gastrointestinal stromal tumors.

The deal is expected to add an experimental precision cancer therapy to GSK’s portfolio as the drugmaker continues to invest in medicines targeting harder-to-treat cancers. IDRx is focused on precision treatments designed to match therapies more closely to specific tumor biology.

The transaction underscores the steady push by large pharmaceutical firms to deepen their cancer drug pipelines through acquisitions of smaller biotechs with promising late-stage assets. For GSK, the purchase could widen its presence in oncology, one of the industry’s most competitive growth areas.

GSK said the acquisition will be completed in cash, with the total value potentially reaching $1.15 billion depending on milestone payments. The company did not disclose additional financial details in the Reuters summary, beyond the strategic aim of expanding its cancer treatment lineup.