Rani Therapeutics Announces up to $1.085 Billion Collaboration with Chugai Pharmaceutical Co. for Multiple High-Value Therapeutics Including Rare Disease and Immunology Programs and Announces Concurrent Oversubscribed $60.3 Million Financing

Core Insights - Rani Therapeutics has entered into a collaboration and license agreement with Chugai Pharmaceutical for the development of an oral product utilizing Rani's RaniPill technology and Chugai's antibody for rare diseases [1][2] - The total potential deal value could exceed $1 billion if Chugai exercises options for additional drug targets [1][2] Financial Details - Rani will receive an upfront payment of $10 million and is eligible for up to $75 million in technology transfer and development milestones, as well as up to $100 million in sales milestones [1][2] - A private placement financing led by Samsara BioCapital is expected to yield approximately $60.3 million, which, along with other expected proceeds, will fund Rani's operations into 2028 [4] Strategic Importance - The partnership aims to combine Rani's oral delivery technology with Chugai's expertise in complex antibodies, addressing the need for less burdensome oral therapies for patients with high unmet medical needs [2][3] - Rani's technology is expected to transform the administration of biologics, traditionally limited to injections, thereby enhancing patient quality of life [3][7]