In a major strategic move, British pharmaceutical giant GSK has announced a definitive agreement to acquire the US-based biotech firm RAPT Therapeutics for a total of $2.2bn (£1.6bn). The deal, the first significant acquisition under new chief executive Luke Miels, centres on a promising experimental drug designed to protect against severe and life-threatening food allergies.
The Target: A Potential Blockbuster Allergy Treatment
The crown jewel of the acquisition is RAPT's lead drug candidate, ozureprubart (known as Ozu). This long-acting treatment is currently in mid-stage clinical trials for food allergies in both children and adults. It works by binding to and neutralising Immunoglobulin E (IgE), which is identified as a fundamental driver of allergic reactions.
Ozu has been tested on patients with allergies to peanuts, milk, eggs, cashews, and walnuts. Data from the ongoing trial is anticipated next year, with late-stage Phase 3 studies scheduled to commence in the second half of 2027. These pivotal trials will focus on children and adults at high risk of severe reactions.
If successful, GSK plans to launch the drug in 2031, the same year the company is targeting total revenues of £40bn. Industry analysts view Ozu as a potential "blockbuster" therapy, a designation for medicines capable of generating annual sales exceeding $1bn.
Addressing a Significant Unmet Medical Need
The acquisition highlights a pressing healthcare challenge. In the United States alone, over 17 million people are diagnosed with food allergies, with more than 1.3 million suffering severe reactions that lead to over 3 million emergency care visits annually.
Current standard-of-care treatments, like Novartis's Xolair, require injections every two to four weeks, a considerable burden especially for paediatric patients. Ozu is administered just once every 12 weeks, offering a less frequent dosing regimen. Furthermore, it could provide a new option for the estimated 25% of patients who are currently ineligible for existing therapies.
"The addition of ozureprubart brings another promising new, potential best-in-class treatment to GSK’s pipeline," stated Tony Wood, GSK's Chief Scientific Officer. "Food allergies cause severe health impacts to patients, with existing treatment requiring injections every two weeks."
Deal Terms and Market Reaction
Under the terms of the agreement, GSK will pay RAPT shareholders $58 per share. News of the deal caused RAPT's Nasdaq-listed shares to surge by 63% to $57.40 in pre-market trading, while GSK's share price saw a modest decline of 1.5%.
The acquisition grants GSK the global rights to ozureprubart, excluding mainland China, Macau, Taiwan, and Hong Kong. This bold step reinforces GSK's commitment to expanding its portfolio in immunology and addressing conditions with high unmet patient need, positioning the company for significant growth as it works towards its ambitious 2031 revenue goal.
