GSK to buy RAPT Therapeutics in $2.2B deal

Andrew Joseph covers health, medicine, and the biopharma industry in Europe. You can reach Andrew on Signal at drewqjoseph.71.

LONDON — GSK said Tuesday it would buy RAPT Therapeutics in a deal worth $2.2 billion, picking up an experimental medicine for food allergies.

GSK is paying $58 per share for the South San Francisco biotech, a roughly 65% premium on Rapt’s closing price on Friday.

The centerpiece of the deal is ozureprubart, an antibody designed to protect people from food allergens. The medicine is in a Phase 2 trial, with data expected in 2027. It targets an immune molecule known as IgE that is involved in allergic reactions.