Rani Therapeutics Has Entered Into A Definitive Agreement With ProGen 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 Obesity
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 and revenue share arrangement. Rani has exclusive rights to lead development and commercialization of RT-114 in the United States, Europe, Canada and Australia, and ProGen has exclusive rights to lead development and commercialization in the rest of the world. Each party has certain rights to sublicense in its territories. Rani is designated to lead operationally in conducting preclinical and development activities through the Phase 1 program, which is expected to initiate in 2025. As part of this agreement, there is no upfront payment or financial exchange between the companies.