Pharmaceuticals giant GSK has reached an agreement to acquire US biotech group RAPT Therapeutics in a deal worth $2.2bn.

The acquisition includes global rights to the California-based firm’s experimental food allergy drug ozureprubart, GSK confirmed.

Under the terms of the deal, GSK will pay RAPT Therapeutics shareholders $58 per share at closing, to comprise an estimated aggregate equity value of $2.2bn. Net of cash acquired, the FTSE 100 company’s upfront investment is estimated to total $1.9bn.

GSK also confirmed that the transaction, which remains subject to customary closing conditions, is expected to close in the first quarter of 2026.

“The addition of ozureprubart brings another promising new, potential best-in-class treatment to GSK’s pipeline,” GSK’s chief scientific officer, Tony Wood, commented. “Food allergies cause severe health impacts to patients with existing treatment requiring injections as frequently as every two weeks.

“Ozureprubart offers the opportunity to bring sustained protection to patients with dosing every 12 weeks, and is consistent with our approach to acquire assets that address validated targets and where there is clear unmet medical need.”

President and CEO of RAPT Therapeutics, Brian Wong, added: “We are excited to enter into this agreement with GSK, which offers an attractive path forward for our programs, particularly the opportunity we envision for ozureprubart in food allergy.

“This transaction has the potential to provide access to the global development and commercialisation capabilities, resources and infrastructure that GSK has to offer and ultimately bring added value to our pipeline, patients and stockholders.”

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