Rani Therapeutics has entered into a high-value collaboration and license agreement with Japan’s Chugai Pharmaceutical to jointly develop and commercialize oral biologic therapies using Rani’s proprietary RaniPill drug delivery platform. The deal carries a total potential value of up to $1.09B, marking one of the largest partnerships in the oral biologics field.
Under the agreement, Rani will receive an upfront payment of $10 million and is eligible for up to $75 million in technology transfer and development milestone payments, plus another $100 million in sales-based milestones. The San Jose-based biotech will also earn single-digit royalties on product sales. Chugai retains the option to extend rights to up to five additional drug targets under similar financial terms, expanding the deal’s total value beyond $1 billion.
The collaboration merges Rani’s robotic pill delivery system—which allows biologics to be administered orally rather than by injection—with Chugai’s antibody and immunology expertise. Both companies aim to provide more convenient oral treatments for rare and immune-related diseases, a field historically dominated by injectable biologics.
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