GSK completes acquisition of Rapt Therapeutics

GSK plc (GSK) announced the completion of its previously announced acquisition of Rapt Therapeutics (RAPT), a California-based, clinical-stage biopharmaceutical company dedicated to developing novel therapies for patients living with inflammatory and immunologic diseases. The acquisition includes ozureprubart, a long-acting anti-immunoglobulin E monoclonal antibody, currently in phase IIb clinical development for prophylactic protection against food allergens. Data from the Phase IIb trial assessing use of ozureprubart as monotherapy is expected in 2027, with Phase III trials to be focused on both at-risk adult and pediatric populations, GSK stated. The total cash consideration for this acquisition amounts to an approximate aggregate equity value of $2.2B. Net of cash acquired, GSK’s upfront investment is approximately $1.9B. The transaction gives GSK the global rights to the ozureprubart program, excluding mainland China, Macau, Taiwan and Hong Kong. GSK will also be responsible for success-based milestone and royalty payments for ozureprubart owed to RAPT’s partner, Shanghai Jeyou Pharmaceutical Co., the company added.