British pharmaceutical leader GSK has agreed to acquire Rapt Therapeutics for $2.2 billion, representing a premium of over 65% to the company’s closing share price prior to the announcement. Under the terms of the agreement, Rapt’s shareholders will receive $58.00 per share. The deal grants GSK global rights to ozureprubart outside mainland China, Macau, Taiwan and Hong Kong. Closing is expected in Q1 2026, subject to regulatory approval.

Ozureprubart is Rapt’s lead experimental antibody therapy targeting IgE, the protein that triggers approximately 94% of severe food-allergic reactions. The drug is currently in phase 2 clinical trials for food allergy protection, offering less frequent dosing compared with existing therapies. More than 17 million Americans suffer from food allergies, including 1.3 million with severe reactions. GSK’s chief scientific officer Tony Wood highlighted that adding ozureprubart could deliver a best-in-class treatment to GSK’s immunology pipeline.

Rapt’s market capitalization stood at about $973 million before the transaction announcement, driven by average daily trading volume of roughly 500 000 shares. The $58.00-per-share offer reflects confidence in late-stage clinical assets and delivers immediate value to existing shareholders. Wells Fargo analyst Yanan Zhu had set a price target of $58 earlier in January, aligning nearly precisely with the agreed deal consideration and underscoring the market’s recognition of ozureprubart’s strategic importance.