Rani Therapeutics Strikes $1 Billion+ Oral Biologics Deal with Chugai, Secures $60.3M Financing

October 17, 2025

DENVER, Colo., Oct 17, 2025 (247marketnews.com)- Rani Therapeutics (NASDAQ:RANI), a clinical-stage biotech pioneering the oral delivery of biologics, surged into the spotlight today with the announcement of a potentially transformative partnership and an oversubscribed private placement. The company has entered into a collaboration and license agreement with Chugai Pharmaceutical, a member of the Roche Group, for the development and commercialization of oral biologics using Rani’s proprietary RaniPill platform.

The agreement begins with a single drug target, for which Rani will receive a $10 million upfront payment, and may earn up to $75 million in development milestones, $100 million in commercial milestones, and single-digit royalties on future product sales. Chugai also holds an option to extend the partnership to up to five additional drug targets, potentially raising the total value of the collaboration to $1.085 billion.

Rani’s CEO, Talat Imran, emphasized the significance of the deal, noting the unmet need for oral delivery in immunologic and rare diseases, where injectable biologics currently dominate. The collaboration brings together Chugai’s antibody expertise with Rani’s innovative oral delivery system to potentially unlock new patient-friendly treatment options.

To further accelerate its pipeline, Rani also announced a $60.3 million private placement, led by Samsara BioCapital with participation from RA Capital Management, Anomaly, Special Situations Funds, Invus, and company Founder and Chairman, Mir Imran. Combined with expected near-term milestone payments, the company anticipates this funding will support operations into 2028, marking a major milestone in its long-term strategic roadmap.

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