GSK plc (GSK,GS71.DE,GSK.L), a global biopharma, announced on Tuesday that it has entered a definitive agreement to acquire RAPT Therapeutics. (RAPT) a clinical-stage biopharmaceutical company for an estimated aggregate equity value of $2.2 billion, including RAPT's lead ozureprubart for IgE-mediated food allergies.
Following the announcement, RAPT is surging 63.53% at $57.40 in the pre-market.
RAPT Therapeutics develops therapies for patients living with inflammatory and immunologic diseases, and the acquisition adds RAPT's ozureprubart, an anti-IgE antibody, in development for prophylactic protection against food allergens, to GSK's pipeline.
Under the terms of the agreement, GSK's subsidiary will commence a tender offer to acquire all outstanding shares of RAPT for $58.00 per share in cash within 10 business days of signing for an approximate equity value of $2.2 billion.
GSK's estimated upfront investment is $1.9 billion, funded by the net cash proceeds from RAPT.
Promptly following the tender offer's closing, GSK will acquire any remaining shares of RAPT through a second-step merger under Delaware law at the tender offer price.
The transaction is expected to close in the first quarter of 2026.Notably, the transaction gives GSK the global rights to the Oureprubart programme, excluding mainland China, Macau, Taiwan and Hong Kong.
Data from the phase IIb trial (pre-IgE) evaluating ozureprubart as monotherapy are for IgE-mediated food allergies is expected in 2027. And phase III trials of ozureprubart will be focused on both at-risk adult and paediatric populations.
In the US, over 17 million people are diagnosed with food allergies, with more than 1.3 million people suffering severe reactions including 65% children and adolescents.
Tony Wood, Chief Scientific Officer, GSK, said, "Food allergies cause severe health impacts to patients with existing treatment requiring injections as frequently as every 2 weeks.Ozureprubart offers the opportunity to bring sustained protection to patients with dosing every 12 weeks"
Over the year, RAPT traded between $5.66 and $42.39. On Friday, RAPT closed trade at $35.10, up 9.04%.
GSK closed Friday's trade at $48.44, down 1.83%.In the premarket, GSK is trading 0.05% up at $48.25.
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