(RTTNews) - Rapport Therapeutics, Inc. (RAPP), a clinical-stage biotechnology company, Monday announced a collaboration with the commercial-stage biopharmaceutical company Tenacia Biotechnology (Hong Kong) Co., Ltd. for granting exclusive rights to develop and commercialize RAP-219 in Greater China, including in mainland China, Hong Kong, Macau and Taiwan. Rapport will retain rights in all other territories globally.
As per the agreement, Rapport is eligible to receive an upfront payment of $20 million and an aggregate of approximately $308 million in potential development and commercialization milestones and other payments. Tiered royalties will be in mid-single digits to mid-teens on net sales of RAP-219 in China, Hong Kong, Macau, and Taiwan.
Rapport has developed RAP-219 as a potential first-in-class TARP?8-specific AMPA receptor negative allosteric modulator intended for focal onset seizures, primary generalized tonic-clonic seizures, and bipolar mania. The Phase 2a trial of RAP-219 in patients with drug-resistant focal onset seizures revealed a statistically significant reduction in long episodes, and clinical seizures compared with baseline.
The phase 3 program is scheduled in the second quarter of 2026. Rapport noted that Tenacia's regional expertise will expand the global reach of RAP-219 and will accelerate development efforts for RAP-219 in focal onset seizures by adding Phase 3 clinical trial sites in China.
Abraham Ceesay, chief executive officer of Rapport said, "Tenacia brings deep expertise in CNS development and commercialization in Greater China, and we believe Tenacia's robust network of local investigators will accelerate the development of RAP-219 and broaden patient access to this potential best-in-class therapy worldwide."
Tenacia noted that there remains substantial unmet need for innovative treatments in epilepsy and bipolar disorder in Greater China.
Currently, shares of Rapport is at $31.02, up 0.78 points or 2.60 percent on more than average of 350,425, from the previous close of $30.24.
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