By Fineline Cube 
Rani Therapeutics Holdings, Inc. today announced a comprehensive Collaboration and License Agreement with Japan’s Chugai Pharmaceutical Co., Ltd. to jointly develop and commercialize an oral drug that couples Rani’s proprietary RaniPill delivery platform with a rare‑disease antibody in Chugai’s pipeline.
Deal Highlights
| Element | Detail |
|---|---|
| Up‑front Payment | $10 million to Rani |
| Success‑Based Technology Transfer | Up to $75 million contingent on milestones |
| Sales‑Based Milestones | Up to $100 million linked to commercial performance |
| Royalty Structure | Single‑digit royalty on sales after commercialization |
| Option for Additional Targets | Up to 5 more drug targets under similar terms |
| Maximum Deal Value | $1.085 billion if fully exercised |
The first target focuses on a rare‑disease antibody, with the possibility of expanding the partnership across multiple therapeutic areas.
Financial & Operational Impact
- PIPE Financing – Rani has closed a Private Investment in Public Equity (PIPE) transaction led by Samsara BioCapital. Gross proceeds of $60.3 million are expected, with net proceeds (after fees) projected to fund operations through 2028.
- Chugai Up‑front & Milestone Funds – Combined with the $10 million upfront and $18 million anticipated technology‑transfer milestones, Rani will have sufficient liquidity to support R&D, regulatory, and commercialization activities for the first drug target.
- Long‑Term Growth – The collaboration positions Rani to expand its oral delivery platform into the rare‑disease space, while Chugai gains access to a proven delivery system that can reduce hematologic toxicity and improve patient adherence.
Strategic Significance
- RaniPill Advantage – The platform delivers small‑molecule therapeutics orally, offering a first‑in‑class approach to rare‑disease treatment.
- Dual‑Innovation – Combining Rani’s delivery technology with Chugai’s antibody expertise creates a synergistic product that could outperform existing parenteral therapies.
- Scalable Partnership – The option to extend the collaboration to up to five additional targets provides a clear pathway for portfolio expansion and revenue diversification.
Forward‑Looking Statements
This release contains forward‑looking statements that involve risks and uncertainties. Actual results may differ materially.-Fineline Info & Tech
Rani Therapeutics Announces up to $1.085 Billion Collaboration with Chugai Pharmaceutical CoDownload