Rani Therapeutics Locks $1.09 B Licensing Deal with Japan’s Chugai Pharma
Biotech company Rani Therapeutics has signed a licensing agreement with Japan’s Chugai Pharmaceutical, worth up to $1.09 billion, to develop and market an oral version of a Chugai experimental antibody. Under the deal, Rani will receive an upfront $10 million, plus up to $75 million for development milestones and $100 million in sales milestones. Chugai may opt to expand the deal to five additional drug programs.
Rani brings its innovative oral-delivery platform and will convert injectable antibodies into pills. This offers patients a more convenient option and helps avoid the challenges of regular injections.
Chugai, which is majority-owned by Roche, retains global development rights while Rani focuses on formulation and early trials. The partnership strengthens both firms: Chugai gains a next-gen delivery method and Rani gains a validated antibody program.
In conjunction with this deal, Rani announced a $60.3 million private placement, led by Samsara BioCapital, to fund its growth through 2028.
The agreement marks a major milestone for Rani. If fully exercised, the deal could substantially boost its pipeline value and position the company as a leader in the growing space of oral biologics.
