Rapport, Tenacia announce collaboration for RAP-219 in Greater China

Rapport Therapeutics (RAPP) and Tenacia Biotechnology announced a collaboration granting Tenacia exclusive rights to develop and commercialize RAP-219 in Greater China, including in mainland China, Hong Kong, Macau and Taiwan. Under the terms of the agreement, Rapport is eligible to receive an upfront payment of $20 million and will be eligible to receive up to an aggregate of approximately $308 million in potential development and commercialization milestones and other payments and mid-single digits to mid-teens tiered royalties on net sales of RAP-219 in China, Hong Kong, Macau, and Taiwan. Tenacia will be responsible for the development and commercialization of RAP-219 in Greater China, while Rapport retains rights in all other territories globally.