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.