Rapt Therapeutics, Jemincare enter exclusive license agreement for JBY1904

RAPT Therapeutics (RAPT) and Shanghai Jemincare Pharmaceutical, a subsidiary of Jiangxi Jemincare Group, announced they have entered into an exclusive license agreement for JYB1904, a clinical-stage, half-life extended anti-immunoglobulin E monoclonal antibody. Under the terms of the license agreement, RAPT is granted worldwide rights excluding mainland China, Hong Kong, Macau and Taiwan to develop and commercialize RPT904. As consideration for the license, Jemincare receives a $35 million upfront license fee, up to $672.5 million in additional payments upon the achievement of various regulatory and commercial milestones, and royalties on future sales of RPT904 outside the Jemincare Territory. RAPT plans to pursue development of RPT904 initially in food allergy. Separately, Jemincare is conducting Phase 2 clinical trials of JYB1904 in China in asthma and CSU.