GSK has agreed to acquire RAPT Therapeutics for approximately $2.2 billion in stock, valuing the U.S. biopharmaceutical at $58.00 per share. The offer represents a premium of about 65% over RAPT’s closing price on January 19, 2026, and 39% over the price on January 16, 2026. The transaction includes an upfront investment of $1.9 billion net of cash acquired and is expected to close in the first quarter of 2026.
The deal is a strategic fit for GSK’s immunology and respiratory portfolio, adding ozureprubart, RAPT’s lead anti‑IgE antibody. Ozureprubart is designed for food‑allergy treatment and offers a dosing schedule of every 12 weeks, compared with the 2‑ to 4‑week injections required for current therapies such as Xolair. The U.S. food‑allergy market includes more than 17 million diagnosed individuals and an estimated $33 billion in annual costs for families with severe reactions.
Phase IIb data for ozureprubart are expected in 2027, with Phase III trials planned for both adult and pediatric populations. The extended half‑life of ozureprubart could give it a competitive edge by improving patient adherence and expanding the potential market share from existing anti‑IgE treatments.
Investors reacted positively to the premium offered, reflecting confidence in ozureprubart’s potential and GSK’s strategic fit. The acquisition aligns with GSK’s stated goal of acquiring late‑stage assets that address validated targets and clear unmet medical needs, and it supports the company’s broader immunology pipeline.
Tony Wood, GSK’s Chief Scientific Officer, said the addition of ozureprubart “brings another promising new, potential best‑in‑class treatment to GSK’s pipeline. Food allergies require frequent injections; ozureprubart offers sustained protection with dosing every 12 weeks, consistent with our approach to acquire assets that address validated targets.” Brian Wong, RAPT’s President and CEO, added that the deal “provides access to GSK’s global development and commercialisation capabilities, resources and infrastructure, ultimately bringing added value to our pipeline, patients and shareholders.”
GSK will assume milestone and royalty payments owed to RAPT’s partner in China, Shanghai Jeyou Pharmaceutical Co., Ltd. The company will hold global rights to ozureprubart, excluding mainland China, Macau, Taiwan, and Hong Kong.
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