In a major strategic move, British pharmaceutical giant GSK has announced a $2.2bn (£1.6bn) acquisition of the US-based biotech firm RAPT Therapeutics. The deal centres on a promising experimental drug designed to protect against severe food allergies, including reactions to peanuts, milk, and eggs.
A New Frontier in Allergy Treatment
The acquisition, the first significant deal under new chief executive Luke Miels, grants GSK global rights to a drug called ozureprubart (Ozu). This long-acting treatment is currently in mid-stage clinical trials for both children and adults. It works by binding to and neutralising Immunoglobulin E (IgE), a key underlying driver of allergic reactions.
Ozu has been tested on patients with allergies to peanut, milk, egg, cashew, and walnut. Data from the ongoing trial is expected next year, with late-stage studies focused on at-risk individuals slated to begin in the second half of 2027. If successful, the drug could launch in 2031, the same year GSK is targeting total revenues of £40bn.
Addressing a Significant Unmet Need
The potential market for Ozu is substantial. Current standard treatment can involve injections every two to four weeks, a significant burden especially for paediatric patients. Ozu is administered just every 12 weeks and could offer a new option for the estimated 25% of patients who are currently ineligible for existing therapy.
In the United States alone, more than 17 million people are diagnosed with food allergies, with over 1.3 million suffering severe reactions that lead to more than 3 million emergency care visits annually. Presently, Novartis's Xolair is the only FDA-approved antibody targeting IgE, with its US sales projected to exceed $1.5bn this year.
"The addition of ozureprubart brings another promising new, potential best-in-class treatment to GSK’s pipeline," said Tony Wood, GSK's chief scientific officer. "Food allergies cause severe health impacts to patients, with existing treatment requiring injections every two weeks."
Financial and Strategic Implications
GSK will pay RAPT shareholders $58 per share. Following the announcement, RAPT's Nasdaq-listed shares surged by 63% to $57.40 in pre-market trading, while GSK's share price saw a slight dip of 1.5%.
The deal excludes commercial rights in mainland China, Macau, Taiwan, and Hong Kong. It marks a decisive step by CEO Luke Miels, who succeeded Emma Walmsley at the start of the year, to bolster GSK's pipeline in immunology and secure a potential future blockbuster drug—typically defined as achieving annual sales of at least $1bn.
