SNAPSHOT

GSK buys out RAPT for $2.2B to crack the food allergy nut

GSK is acquiring RAPT Therapeutics for $2.2 billion to gain rights to ozureprubart, a long-acting antibody therapy in phase 2 development for food allergies.

Why it matters: This move positions GSK in the fast-growing food allergy treatment market, challenging Novartis and Roche’s Xolair with a therapy that could offer longer-lasting protection and fewer injections. The deal gives GSK the opportunity to expand its presence in validated, high-need treatment areas.

Backstory: Ozureprubart, licensed by RAPT from China’s Jemincare in 2025, is being tested as a 12-week prophylactic injection for food allergies. It targets the same IgE epitope as Xolair, the first FDA-approved treatment for food-triggered allergic reactions, but with potentially more convenient dosing.

Big picture: With food allergies affecting millions and current treatments requiring frequent injections, a longer-acting solution could improve patient adherence and outcomes, giving GSK a competitive edge in immunology.

Zoom in: GSK is paying $58 per RAPT share, 39% above RAPT’s last closing price, for a total equity value of $2.2B. GSK gains global rights to ozureprubart, excluding China. The phase 2 trial results are expected in 2027, with phase 3 plans in the pipeline. RAPT had pivoted to ozureprubart after FDA setbacks and layoffs tied to its earlier CCR4 inhibitor programs.

SNIPPETS

What’s happening in biotech today?

🧬 Antibody upgrade: AAX Biotech and Vascurie have announced a new collaboration focused on advancing antibody therapeutics for neuro-oncology, particularly targeting central nervous system (CNS) tumors. The partnership will leverage AAX’s Seqitope platform, capable of high-throughput, amino acid-level epitope mapping, and newly implemented automation technologies to rapidly characterise Vascurie’s antibody candidates, including the lead candidate VDL-309, which targets the novel drug target CD93. VDL-309 is currently in preclinical development for treating high-grade gliomas and brain metastases, with plans to submit regulatory applications in 2027.

💥 Combo crash: Boundless Bio has officially discontinued development of its combination cancer therapy involving two underperforming solid tumor drugs, BBI-825 and BBI-355, following disappointing clinical results and poor tolerability in trials. BBI-825, an RNR inhibitor, had already been shelved in 2024 due to inadequate drug exposure, while BBI-355, a CHK1 inhibitor, showed hematological toxicity and limited therapeutic potential. Attempts to salvage both drugs through a combination treatment also failed, leading the company to cease trial enrollment after a strategic review. Boundless will now focus entirely on its preclinical Kinesin oral degrader program, BBI-940, which recently received FDA clearance to begin human trials.

⚠️ Safety first: Valneva has withdrawn its biologics license application and investigational new drug (IND) filing for its chikungunya vaccine Ixchiq in the United States, following the FDA’s decision to place the IND on clinical hold due to a newly reported serious adverse event outside the U.S. The French vaccine maker stated it had been awaiting further guidance from the FDA on how to address the safety concerns before opting to halt its near-term U.S. plans. Ixchiq, a live-attenuated, single-dose vaccine, was approved in the U.S. in 2023 for high-risk adults and has since received expanded approval in Europe, including use in adolescents.

🤝 Delivery deal: Alteogen has entered into a licensing agreement with Tesaro, a subsidiary of GSK, granting global rights to use its hyaluronidase technology ALT-B4 for developing a subcutaneous version of dostarlimab, an anti-PD-1 cancer therapy. The deal is valued at up to $265 million, including a $20 million upfront payment. ALT-B4 facilitates large-volume subcutaneous drug delivery, offering an alternative to intravenous administration. This agreement marks another major partnership for Alteogen, which has previously secured deals with AstraZeneca and MSD.

🚀 Melanoma momentum: Merck (MSD) and Moderna’s personalized cancer vaccine candidate, intismeran (mRNA-4157/V940), has maintained a 49% reduction in the risk of melanoma recurrence or death over five years when used in combination with Keytruda, according to updated results from a phase 2b study in high-risk melanoma patients post-resection. The data, which builds on earlier findings showing 44% and 49% risk reduction at two and three years respectively, reinforces the vaccine’s potential for durable clinical benefit. Intismeran, an mRNA-based therapy targeting up to 34 tumor-specific neoantigens, is now in a fully enrolled phase 3 trial, with interim results expected in 2026 and potential market entry in 2027.

SNAP AGAIN

Exciva lands €51M to ease Alzheimer’s agitation with symptom-focused drug

Heidelberg-based biotech Exciva raised €51 million in Series B funding to advance Deraphan, a new therapy targeting agitation in Alzheimer’s patients, into Phase II trials.

Why it matters: Neuropsychiatric symptoms like agitation affect up to 60% of Alzheimer’s patients and are a major reason for loss of home care. Current treatments are inadequate and often risky, leaving a large unmet need.

Backstory: Founded in 2016, Exciva struggled to gain traction until Andera Partners led its €9M Series A in 2021. Exciva’s model reflects a broader shift toward pragmatic, patient-centered innovation in dementia care.

Big picture: Investors are moving beyond high-risk, disease-modifying Alzheimer’s drugs to support symptom-focused therapies that offer measurable relief and faster, more predictable development paths. These therapies could help patients stay at home longer, lower care costs, and ease caregiver burden, particularly as Alzheimer’s-related symptoms like anxiety, apathy, and psychosis are gaining attention as distinct targets.

Zoom in: Deraphan combines two clinically validated compounds and targets key neuronal pathways. Phase I was successfully completed; Phase II will span Europe, the UK, US, and Canada. Investors include Gimv, EQT Life Sciences, Andera Partners, LifeArc Ventures, Fountain Healthcare Partners, Carma Fund, and Modi VC.

What's next: Deraphan enters global Phase II trials to assess its ability to reduce agitation in Alzheimer’s patients. Positive results could unlock a high-value market niche.

TOUR OPERATOR

Upcoming events

• 🇩🇪 Heidelberg, 4 February 2026- Life, the biomedical convention

• 🇦🇪 Dubai, 9-12 February 2026, WHX Dubai

• 🇩🇪 Göttingen, 19 February 2026 - Life Science Start-up Day

• 🇬🇧 London, 24-25 February 2026 - World ADC London 2026

• 🇳🇱 Amsterdam, 3-4 March 2026 - BioCapital

• 🇪🇸 Barcelona, 10-12 March 2026 - Bioprocessing Summit Europe

• 🇳🇱 Utrecht, 26 March 2026 - Innovation for Health

• 🇦🇹 Vienna, 27-30 March 2026 - BioProcess International

• 🇩🇪 Munich, 17-21 April - ESCMID Global

• 🇺🇸 San Diego, 17-22 April 2026 - AACR Annual Meeting