By Aimee Look
Drugmaker GSK said it agreed to acquire Californian biopharmaceutical company RAPT Therapeutics for an estimated equity value of around $2.2 billion, a move set to bolster its respiratory, immunology and inflammation portfolio.
GSK said Tuesday that it made a deal to pay RAPT shareholders $58 per share, with $1.9 billion upfront investment in cash. The acquisition is expected to close in the first quarter of 2026 with an estimated aggregate equity value of $2.2 billion.
The British company said the acquisition of RAPT includes ozureprubart, an antibody that is in development for protection against food allergies. Data from the drug's trials are expected in 2027.
"The addition of ozureprubart brings another promising new, potential best-in-class treatment to GSK's pipeline," GSK Chief Scientific Officer Tony Wood said.
Though the drugmaker might still encounter various hurdles in the deal and getting the new treatment to market, GSK's agreed acquisition of RAPT is exactly the sort of risk that the big pharma firm should be taking, AJ Bell investment director Russ Mould says in a note.
"If GSK can crack the formula for a more convenient treatment, it stands to potentially make big bucks," Mould writes to clients. Around 6% of adults in the U.K. have a food allergy, which is around 2.4 million adults there, according to the Food Standards Agency. The treatment-in-testing, which GSK would acquire as a part of the deal, could offer less frequent dosing than alternative drugs.
GSK shares are down 1.5%, at 17.89 pounds, but up 34% over the past year.
The deal gives GSK the rights to ozureprubart internationally, except in mainland China, Hong Kong, Macau and Taiwan.
Write to Aimee Look at aimee.look@wsj.com
(END) Dow Jones Newswires
01-20-26 0540ET
