Shanghai Jeyou Pharmaceutical Technology Co., Ltd. (hereinafter referred to as “Jeyou Pharmaceutical”) has entered into an exclusive licensing agreement with RAPT Therapeutics (hereinafter referred to as “RAPT”), under which Jeyou Pharmaceutical grants RAPT exclusive rights to develop and commercialize JYB1904, a novel long-acting IgE antibody with proprietary intellectual property, worldwide outside of Greater China

Jeyou Pharma will receive an upfront payment of $35 million, milestone payments of up to $672.5 million, and future sales royalties in the high single-digit to low double-digit percentage range.

Jeyou Pharma’s JYB1904 program is currently undergoing Phase II clinical trials in China for asthma and chronic idiopathic urticaria.

RAPT plans to initiate a Phase 2b clinical trial for food allergies outside of China next year.

December 23, 2024 – Shanghai Jeyou Pharmaceutical Technology Co., Ltd. (hereinafter “Jeyou Pharmaceutical”) and RAPT Therapeutics, Inc. (hereinafter “RAPT”)—a clinical-stage immunobiopharmaceutical company focused on addressing significant unmet needs in inflammatory diseases—announced that they have entered into an exclusive licensing agreement for JYB1904 (RAPT product code RPT904). JYB1904 is an anti-IgE monoclonal antibody developed by Jeyou Pharma that features higher affinity and a longer half-life.

Under the terms of the license agreement, RAPT is granted the rights to develop and commercialize JYB1904 globally, excluding Mainland China, Hong Kong, Macau, and Taiwan (collectively referred to as the “Jeyou Territory”). In return, Jeyou Pharmaceuticals will receive a $35 million upfront payment, milestone payments of up to $672.5 million, and future tiered sales royalties. First-generation omalizumab (Xolair®) has been approved for various allergic conditions, including asthma, chronic spontaneous urticaria (CSU), chronic sinusitis with nasal polyps, and, most recently, food allergies. JYB1904 is designed to offer patients a superior treatment option compared to omalizumab. Jeyou Pharma is currently conducting Phase 2 clinical trials of JYB1904 for the treatment of asthma and CSU in China. RAPT plans to initiate clinical development for food allergies in 2025.

Li Xiaoxiang, President of Jeyou Pharmaceuticals, stated: “We are delighted to collaborate with RAPT Therapeutics to advance the development of JYB1904 for food allergies and other allergic diseases. We believe this collaboration will significantly enhance and accelerate the global development and commercialization of JYB1904, thereby benefiting patients.”

Dr. Brian Wong, President and CEO of RAPT, said: “We are pleased to partner with Jeyou Pharma and are excited about the potential for RPT904 to become a best-in-class novel treatment option for patients with food allergies. “This year, the approval and rapid adoption of omalizumab for food allergies have confirmed that this market is growing and presents a high unmet need and significant opportunity. RPT904 has demonstrated a prolonged half-life in clinical studies, giving the molecule best-in-class characteristics. We plan to initiate a Phase 2b clinical trial of RPT904 for food allergies in the second half of 2025.”

About the JYB1904/RPT904

JYB1904/RPT904 is a novel, long-acting anti-IgE monoclonal antibody (mAb) intended for the treatment of patients with food allergies, chronic idiopathic urticaria, asthma, and other allergic inflammatory diseases. JYB1904 is designed to bind to free human immunoglobulin E (IgE), a key driver of allergic diseases. In Phase I clinical studies, JYB1904 has demonstrated a half-life more than twice as long as that of the first-generation anti-IgE mAb omalizumab (Xolair®), along with improved pharmacokinetic and pharmacodynamic properties.

About the Jeyou Pharmaceuticals

Shanghai Jeyou Pharmaceutical Technology Co., Ltd. was founded in 2018 in Pudong, Shanghai, and focuses on the research, development, manufacturing, and commercialization of innovative drugs. Leveraging its exceptional drug development capabilities and integrated R&D, manufacturing, and sales model, Jeyou Pharmaceutical is committed to rapidly bringing its proprietary innovative drugs to the global market to address unmet medical needs. Jeyou Pharma’s proprietary pipeline already includes more than 10 innovative drug projects that have entered the clinical stage. Between 2021 and 2022, Jeyou Pharma completed overseas licensing agreements for three preclinical projects; this transaction marks the company’s fourth overseas licensing of a product under development.

About the RAPT Therapeutics, Inc.

RAPT Therapeutics is a clinical-stage, immunology-based therapeutics company focused on discovering, developing, and commercializing therapies for patients with inflammatory diseases who have significant unmet medical needs. The company leverages its proprietary discovery and development platforms to advance the development of biologics and selective small-molecule drugs designed to normalize the key immune drivers underlying these diseases.