RANI - Rani Therapeutics Announces Partnership with ProGen on Development of Oral Obesity Treatment | Benzinga
~ New RT-114 obesity program combines ProGen's FC Fusion protein conjugated GLP-1/GLP-2 dual agonist, PG-102, with the RaniPill® capsule designed to provide a differentiated oral delivery mechanism with bioavailability comparable to subcutaneous injection ~
~ Rani and ProGen to share responsibilities for the development and commercialization of RT-114, including a 50/50 cost and revenue share arrangement ~
~ Rani to host conference call today at 8:00 a.m. ET/5:00 a.m. PT ~
SAN JOSE, Calif., June 24, 2024 (GLOBE NEWSWIRE) -- Rani Therapeutics Holdings, Inc. ("Rani Therapeutics" or "Rani")(NASDAQ:RANI), a clinical-stage biotherapeutics company focused on the oral delivery of biologics and drugs, today announced that it has entered into a definitive agreement with ProGen Co., Ltd. ("ProGen")(Konex: 296160), a South Korean clinical-stage biotech company developing next generation long-acting, multi-specific fusion protein therapeutics, for the co-development and commercialization of RT-114, an oral RaniPill® capsule containing ProGen's PG-102, a GLP-1/GLP-2 dual agonist, for the treatment of obesity.
"This collaboration with ProGen reinforces Rani's clear commitment to improving the lives of people suffering from chronic conditions, such as obesity, by replacing painful injections with the convenience of a pill," said Talat Imran, Chief Executive Officer of Rani Therapeutics. "We chose to collaborate with ProGen based on the potentially unique pharmacokinetic (PK) and tolerability profile of PG-102 in a RaniPill® capsule. Given the long half-life of PG-102, the parties intend to pursue development of RT-114 as a convenient, weekly oral dose. It also has the potential to improve body composition and nutritional health of patients owing to the unique mechanism of action of GLP-2. We look forward to working with ProGen to advance RT-114 with the goal of creating a truly differentiated oral anti-obesity medicine designed to enhance patients' adherence and maximize therapeutic effects with bioavailability comparable to subcutaneous injections."
"This partnership brings together Rani's oral biologics delivery expertise with ProGen's two decades of experience in Fc-fusion proteins to enable development of a potentially unique oral therapy option for people with obesity," said Dr. Jong-Gyun Kim, Chief Executive Officer of ProGen. "Together, we are focused on pursuing RT-114 as a potential first-in-class, oral dual agonist in the anti-obesity arena."
Under the terms of the collaboration agreement, Rani and ProGen agree to share responsibilities for the development and commercialization of RT-114 worldwide, including a 50/50 cost ...