Ropes & Gray Advised Tenacia Biotechnology in Strategic Collaboration with Rapport Therapeutics

Ropes & Gray represented Tenacia Biotechnology, a commercial-stage biopharmaceutical company, in a strategic collaboration with Rapport Therapeutics, Inc. The deal announced in a March 9 press release, grants Tenacia exclusive rights to develop and commercialize RAP-219 in Greater China, including in mainland China, Hong Kong, Macau and Taiwan. RAP-219 is a potential first-in-class TARPγ8-specific AMPA receptor negative allosteric modulator being developed as part of Rapport’s growing neuroscience portfolio.

Under the agreement, Rapport is eligible to receive an upfront payment of $20 million and will be eligible to receive up to an aggregate of approximately $308 million in potential development and commercialization milestones and other payments and mid-single digits to mid-teens tiered royalties on net sales of RAP-219 in China, Hong Kong, Macau, and Taiwan. Tenacia will be responsible for the development and commercialization of RAP-219 in Greater China, while Rapport retains rights in all other territories globally.

The compound, expressed in brain regions, is being evaluated as a potential treatment for patients with focal onset seizures, primary generalized tonic-clonic seizures, bipolar disorder, and peripheral neuropathic pain.

The Ropes & Gray team included IP transactions partner Geoffrey Lin, and associates Shuang Ci and Weilun Qian.