RAPT Therapeutics Shares Surge Following Licensing Agreement with Jemincare

Investing.com -- RAPT Therapeutics' shares rose on Monday after announcing an exclusive licensing agreement with Shanghai Jemincare Pharmaceutical. The agreement grants RAPT Therapeutics worldwide rights to develop and commercialize the clinical-stage anti-immunoglobulin E (IgE) monoclonal antibody RPT904, excluding certain regions in Asia.

Under the terms of the agreement, RAPT will pay Jemincare a $35 million upfront licensing fee, and there is potential for milestone payments of up to $672.5 million, along with royalty payments from future sales outside the Jemincare Region. This strategic partnership aims to develop RPT904 as a potentially superior treatment option compared to the already approved omalizumab for various allergic disorders.

RAPT plans to initiate Phase 2b clinical trials for RPT904 for food allergies in the second half of 2025, citing significant market opportunities following the recent approval of omalizumab for treating food allergies. Additionally, RAPT Therapeutics announced a $150 million private placement on Monday, expected to close around December 27.