GSK Announces $2.2 Billion Deal to Acquire RAPT Therapeutics

GlaxoSmithKline plc (“GSK”), a major British pharmaceutical company, has agreed to acquire RAPT Therapeutics Inc. in a deal valued at approximately $2.2 billion in cash. This strategic transaction aims to expand GSK’s portfolio in treatments for food allergies and other immune-mediated conditions.

Details of the Acquisition Agreement

Under the terms of the deal, GSK will pay $58 per share to RAPT Therapeutics’ shareholders, representing a steep premium over RAPT’s previous closing stock price. In total, the acquisition is valued at about $2.2 billion, with an estimated upfront cash investment of roughly $1.9 billion after accounting for RAPT’s existing cash on hand.

The deal is expected to close during the first quarter of 2026, subject to customary regulatory approvals and closing conditions.

Why RAPT Therapeutics Matters

RAPT Therapeutics is a California-based biopharmaceutical company focused on developing innovative therapies for inflammatory and immunologic diseases. Its most promising asset is ozureprubart (often shortened to “Ozu”), a long-acting monoclonal antibody currently in Phase IIb clinical development designed to protect against severe food allergic reactions.

Ozureprubart targets immunoglobulin E (IgE), the antibody largely responsible for triggering allergic reactions. Early data suggest the therapy may be dosed once every 12 weeks, offering a significant convenience advantage over many current treatments that require more frequent injections.

Ozureprubart’s Potential Health Impact

Food allergies affect millions of people worldwide, with common allergens including peanuts, milk, eggs, tree nuts, and others. Patients with severe allergies can experience life-threatening reactions, and there is a strong unmet need for effective, long-lasting treatments. Ozureprubart could meet this need by potentially providing sustained protection with fewer doses.

Experts believe that fewer injections and broader eligibility than current therapies could make ozureprubart an important new option for patients, especially children and others who struggle with frequent dosing schedules.

Strategic Fit for GSK

This acquisition represents GSK’s first major deal under its new CEO, Luke Miels, who took over leadership at the beginning of 2026. Miels has emphasized strengthening the company’s immunology and respiratory drug pipeline, especially as several existing products face patent expirations in the coming years.

By adding RAPT’s experimental therapy to its portfolio, GSK aims to boost its long-acting treatment offerings, aligning with its broader strategy to drive future growth and reach ambitious revenue goals by 2031.

Complementary Business Moves

Alongside the RAPT acquisition, GSK also announced changes in the ownership of its HIV joint venture, ViiV Healthcare. Japan’s Shionogi & Co. will increase its stake following Pfizer’s exit, and GSK will receive a special dividend of $250 million as part of the transaction. This move further strengthens GSK’s financial position and strategic flexibility.

Market Reaction

The announcement of the acquisition sparked significant stock market reaction: RAPT’s shares surged sharply in pre-market trading, reflecting investor enthusiasm for the potential of ozureprubart and the value of the takeover premium.

By contrast, GSK’s shares showed a modest decline around the announcement time, as investors weighed the near-term cost of the deal against its long-term strategic benefits.

What’s Next for Ozureprubart

The therapeutic candidate is currently in Phase IIb clinical trials, with results expected in the coming years. If the data are positive, GSK plans to advance ozureprubart into Phase III development, moving it closer to potential regulatory approval and eventual commercial launch.

Experts anticipate that a successful Phase III outcome could position ozureprubart as a leading option for treating food allergies, particularly for patients who have not responded well to existing therapies.

Potential Impact on Patients

The acquisition is seen not only as a strategic business move but also as an important step toward addressing serious health challenges related to food allergies. With millions of individuals affected globally—many of them children—more effective and convenient treatment options could make a meaningful difference in their quality of life.

Long-acting therapies like ozureprubart might reduce the burden of frequent clinic visits and injections, improve adherence, and provide broader protection against allergic reactions, including life-threatening anaphylaxis.

Conclusion

GSK’s $2.2 billion acquisition of RAPT Therapeutics represents a major step forward in the pharmaceutical industry’s efforts to innovate in the food allergy treatment space. By adding ozureprubart and RAPT’s research capabilities to its pipeline, GSK is positioning itself for future growth while addressing a significant unmet medical need.

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