GSK Acquires Rapt Therapeutics for $2.2 Billion to Secure Food Allergy Drug Ozureprubart

Deal Rationale and Strategic Fit

Ozureprubart targets immunoglobulin E (IgE), the only approved systemic therapy protecting against allergic and inflammatory responses in food allergy patients.[3] Unlike Roche’s Xolair, which requires bi-weekly injections, ozureprubart offers 12-week dosing, positioning it as a potential best-in-class option.[1][7] Phase 2b data are due in 2027, with GSK planning late-stage trials for adults and children.[1]

GSK Chief Scientific Officer Tony Wood described ozureprubart as a “promising new, potential best-in-class treatment.” Leerink Partners, downgrading Rapt to Market Perform at $58, noted GSK’s lack of clinical trials in food allergy and urticaria—ozureprubart’s lead indications—indicating minimal overlap and low regulatory risk.[1]

Rapt President and CEO Brian Wong highlighted GSK’s global development and commercialization strengths. The acquisition complements GSK’s immunology focus, filling gaps in anti-IgE assets.[1]

Financial Terms and Market Reaction

[1]

GSK assumes future milestone and royalty obligations to Rapt partner Shanghai Jeyou Pharmaceutical.[1] Rapt shares traded near their 52-week high post-announcement.[1]

Broader M&A Trends in Pharma Immunology

This deal signals renewed Big Pharma interest in immunology assets amid **biopharma M&A trends 2026**, with GSK joining recent activity like Boston Scientific’s $14.5B Penumbra buy and Lilly’s $1.2B Ventyx acquisition targeting NLRP3 inflammasomes.[5] Food allergy treatments represent a high-unmet-need niche, competing directly with Xolair in a market projected to grow with rising allergy prevalence.[2][7]

Analysts view mature biopharma acquisitions of emerging biotechs as dominant, driven by pipeline gaps and valuation discipline in a post-2025 IPO slowdown.[2] GSK’s move aligns with **strategic pharma acquisitions in allergy treatments**, enhancing long-term revenue as HIV/vaccines face headwinds.[5]

Implications for Stakeholders

• GSK Investors: Pipeline diversification into underserved allergy space, with ozureprubart’s extended dosing as a differentiator.
• Rapt Shareholders: Immediate liquidity at a premium, though Leerink trimmed its target.[1]
• Patients: Potential for less frequent dosing in food allergy prophylaxis if trials succeed.
• Industry: Heightened competition in anti-IgE therapies; watch for regulatory scrutiny in concentrated immunology M&A.[1][5]

GSK’s $2.2B bet underscores **private equity exit strategies in biotech** parallels, as Big Pharma absorbs late-stage assets to de-risk innovation.[1][2]