Rapport Therapeutics, Inc. (NASDAQ: RAPP) and Tenacia Biotechnology (Hong Kong) Co., Ltd. have entered into a strategic collaboration that grants Tenacia exclusive rights to develop and commercialize Rapport’s lead candidate RAP‑219 in Greater China, covering mainland China, Hong Kong, Macau, and Taiwan. The agreement provides Rapport with a $20 million upfront cash payment and the opportunity to earn up to $308 million in development and commercialization milestones, plus tiered royalties ranging from mid‑single‑digit to mid‑teens on net sales in the region.
The partnership leverages Tenacia’s deep expertise in central nervous system (CNS) drug development and its established commercial network in Greater China. By entrusting Tenacia with Phase 3 site expansion, regulatory strategy, and commercial execution for focal‑onset seizures and bipolar mania indications, Rapport can focus on its global development program while accelerating the drug’s path to market in a large and underserved patient population. The deal also strengthens Rapport’s cash position, extending its runway to the second half of 2029 and providing a financial cushion for future clinical milestones.
RAP‑219 is a first‑in‑class TARPγ8‑specific AMPA receptor negative allosteric modulator that has shown promising Phase 2a results for focal‑onset seizures. The collaboration supports the planned initiation of a Phase 3 program in Q2 2026, with Tenacia responsible for expanding trial sites in China and managing regulatory submissions. The partnership is expected to shorten the time to market and broaden patient access, potentially unlocking a multi‑billion‑dollar opportunity in the epilepsy and bipolar disorder markets.
Management highlighted the strategic fit of the deal. CEO Abraham N. Ceesay said, “Tenacia brings deep expertise in CNS development and commercialization in Greater China, and we believe Tenacia’s robust network of local investigators will accelerate the development of RAP‑219.” CEO Xiaoxiang Chen added, “RAP‑219 is a highly differentiated and promising potential therapy.” Chief Medical Officer Jeffrey Sevigny noted, “Our analysis showed that RAP‑219 demonstrated strong clinical response – early in treatment, consistent over time, and across the spectrum of disease severity.”
The collaboration positions Rapport to capitalize on a large and growing market while maintaining control of its global development strategy. The upfront payment and milestone potential provide immediate financial support, and the partnership’s focus on regulatory and commercial execution in Greater China is expected to enhance the likelihood of successful market entry and revenue generation for RAP‑219.”
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