Rani Therapeutics signs up to $1.09 billion licensing deal with Japan's Chugai Pharma
Rani Therapeutics has signed a licensing deal with Chugai Pharmaceutical worth up to $1.09 billion to develop an oral version of an experimental antibody. The agreement includes a $10 million upfront payment, potential milestones totaling $175 million, and royalties on sales. Rani's shares surged nearly threefold in premarket trading following the announcement. This partnership leverages Rani's oral drug delivery technology and Chugai's expertise in complex antibodies, according to CEO Talat Imran.
Oct 17 (Reuters) - Rani Therapeutics (RANI.O) on Friday announced a licensing deal to develop an oral version of Chugai Pharmaceutical’s (4519.T) experimental antibody, with an option to extend it to up to five drugs, potentially bringing the total deal value to $1.09 billion.
Shares of San Jose-based Rani nearly tripled in premarket trading.
Under the deal, Rani will receive a $10 million upfront payment, up to $75 million in technology transfer and development milestones, as well as up to $100 million in sales milestones and single-digit royalties on product sales for the first licensed program.
This partnership combines Rani’s cutting-edge oral drug delivery platform and Chugai’s expertise in complex antibodies in global markets, said Talat Imran, chief executive officer of Rani.
