RAPT Therapeutics (RAPT) has secured an exclusive licensing agreement with Shanghai Jemincare Pharmaceutical Co., a subsidiary of Jiangxi Jemincare Group, for JYB1904, also known as RPT904. This compound is a clinical-stage monoclonal antibody designed to extend the half-life of anti-immunoglobulin E treatments. Under this agreement, RAPT gains the rights to develop and commercialize RPT904 globally, excluding mainland China, Hong Kong, Macau, and Taiwan. In return, Jemincare receives a $35 million upfront fee, the potential for additional payments totaling up to $672.5 million based on regulatory and commercial milestones, and royalties from future sales of RPT904 outside of Jemincare's designated territories.
RPT904 is being explored as a potentially superior therapeutic option in comparison to omalizumab, an anti-IgE monoclonal antibody currently approved for various allergic conditions such as asthma, chronic spontaneous urticaria, chronic rhinosinusitis with nasal polyps, and, more recently, food allergies.
RAPT's initial focus for RPT904 development is in the area of food allergies, while Jemincare is advancing Phase 2 clinical trials of JYB1904 in China, targeting asthma and chronic spontaneous urticaria.
The announcement of this agreement has positively impacted RAPT's market performance, with its shares increasing by 62% in pre-market trading on Monday.
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