GSK Acquires RAPT Therapeutics
GSK acquires RAPT Therapeutics, adding ozureprubart to its immunology pipeline and raising near-term deal risk for shareholders before an early 2026 close.
KEY TAKEAWAYS
- GSK agreed to acquire RAPT for $2.2 billion, $58 per share; $1.9 billion upfront net of cash.
- Deal is structured as a merger with a tender offer and expected to close in Q1 2026.
- Acquisition adds ozureprubart, a long-acting anti-IgE mAb with Phase IIb topline due 2027.
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GlaxoSmithKline PLC (GSK) agreed on January 20, 2026, to acquire RAPT Therapeutics in a definitive deal that adds ozureprubart to GSK’s immunology pipeline and aims for a close in early 2026.
Deal Terms, Timeline, and Strategic Fit
GSK said in slides that it will acquire RAPT for $2.2 billion in aggregate equity, or $58 per share at closing, with $1.9 billion paid upfront net of cash. The transaction is structured as a merger agreement with a tender offer by a GSK subsidiary expected to begin within ten business days. The companies target closing in the first quarter of 2026.
RAPT named J.P. Morgan as financial adviser and Cooley and Latham & Watkins as legal counsel. GSK retained Evercore and A&O Shearman. Company materials cite standard closing risks, and shareholder litigation alleging fiduciary-duty and fair-price concerns has been announced.
The acquisition fits GSK’s immunology strategy targeting 15 launches with more than $2 billion in peak sales each. While RAPT’s CCR4 oncology assets remain part of the portfolio, the announcement focused on ozureprubart.
Ozureprubart and Market Opportunity
Ozureprubart (RPT904) is a long-acting anti-IgE monoclonal antibody in a Phase IIb prestIgE trial (NCT07220811) designed for prophylactic protection against food allergy. Topline data are expected in 2027, with a Phase III program planned for at-risk adults and pediatric patients.
The drug targets dosing every eight to 12 weeks, compared with two to four weeks for omalizumab (Xolair), offering a potential advantage in dosing frequency.
Materials cite more than 17 million food-allergy cases in the U.S., including over 1.3 million severe cases and roughly 3 million annual emergency-room or inpatient visits. IgE antibodies mediate about 94% of severe food-allergy cases.
Under the agreement, GSK acquires global rights to ozureprubart outside mainland China, Macau, Taiwan, and Hong Kong, and assumes milestone and royalty obligations to Shanghai Jeyou Pharmaceutical related to the asset.
