Why RAPT Therapeutics Is Rising In Pre-market?
(RTTNews) - RAPT Therapeutics (RAPT), and Shanghai Jemincare Pharmaceutical Co., a subsidiary of Jiangxi Jemincare Group, have entered into an exclusive license agreement for JYB1904, or RPT904, a clinical-stage, half-life extended anti-immunoglobulin E monoclonal antibody. RAPT is granted worldwide rights excluding mainland China, Hong Kong, Macau and Taiwan to develop and commercialize RPT904. Jemincare received a $35 million upfront license fee, up to $672.5 million in additional payments upon the achievement of various regulatory and commercial milestones, and royalties on future sales of RPT904 outside the Jemincare Territory.
RPT904 is being developed to offer patients a potentially improved therapeutic option compared to omalizumab, an anti-IgE monoclonal antibody approved for several allergic disorders, including asthma, chronic spontaneous urticaria, chronic rhinosinusitis with nasal polyps and, most recently, food allergy.
RAPT plans to pursue development of RPT904 initially in food allergy. Jemincare is conducting Phase 2 clinical trials of JYB1904 in China in asthma and chronic spontaneous urticaria.
Shares of RAPT are up 62% in pre-market trade on Monday.
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