Rapport Therapeutics Licenses RAP-219 to Tenacia Biotechnology for Greater China Development and Commercialization
Boston-based Rapport Therapeutics, Inc. (Nasdaq: RAPP) and Shanghai-headquartered Tenacia Biotechnology (Hong Kong) Co., Ltd. have entered a strategic collaboration granting Tenacia exclusive rights to develop and commercialize Rapport Therapeutics' RAP-219 in Greater China, covering mainland China, Hong Kong, Macau, and Taiwan. RAP-219 is a TARPγ8-specific AMPA receptor negative allosteric modulator (NAM) — a small molecule being developed for focal onset seizures (FOS), primary generalized tonic-clonic seizures, and bipolar mania. Rapport retains all rights outside the licensed territory. Deal specifics were disclosed publicly.
Under the terms of the Rapport Therapeutics partnership, Tenacia will pay Rapport an upfront cash payment of USD 20 million. Rapport is eligible to receive up to approximately USD 308 million in development and commercialization milestones and other payments, along with mid-single-digit to mid-teens tiered royalties on net sales in the licensed territory. A granular breakdown between development and commercial milestone categories was not provided. Tenacia will be responsible for all RAP-219 development commercialization activities in Greater China, including leading local clinical trial operations. No equity investment or profit-share arrangement was disclosed.
Deal Context
RAP-219 is described as a first-in-class compound that selectively modulates AMPA receptors associated with the auxiliary subunit TARPγ8. AMPA receptors mediate fast excitatory neurotransmission throughout the central nervous system, but TARPγ8 expression is concentrated in discrete brain regions — the hippocampus and neocortex — where focal seizures commonly originate. TARPγ8 has minimal expression in the hindbrain, where drug effects are often linked to adverse events such as sedation and motor impairment. By targeting only TARPγ8-containing AMPA receptors, RAP-219 aims to suppress pathological excitatory signaling while sparing AMPA receptor function in regions not implicated in seizure generation.
In September 2025, Rapport reported results from a Phase 2a trial of RAP-219 in patients with drug-resistant FOS. The compound demonstrated a statistically significant reduction in long episodes — an objective electrographic biomarker for clinical seizure reduction — compared with baseline, as well as a statistically significant reduction in clinical seizures compared with baseline. Rapport has stated that two global registrational trials in FOS are planned, with the Phase 3 program expected to initiate in Q2 2026. A Phase 1 trial assessing TARPγ8 receptor occupancy in healthy adults has also been conducted. Under the Tenacia Biotechnology collaboration, Tenacia will add Phase 3 clinical trial sites in China to the global registrational program, with the aim of accelerating enrollment.
This biotech strategic collaboration is the first deal between the two companies. Rapport Therapeutics, founded in March 2023 and publicly listed in 2024, has a pipeline built around its proprietary receptor-associated protein (RAP) technology platform. RAP-219 is the company's lead and only disclosed clinical-stage asset. The Tenacia deal appears to be Rapport's first out-licensing transaction. Tenacia, founded in 2022 with backing from Bain Capital, has an established model of in-licensing CNS assets for the Greater China market. Previous Tenacia deals include a November 2022 collaboration and supply agreement with Marinus Pharmaceuticals for ganaxolone and a licensing and collaboration agreement with Praxis Precision Medicine for ulixacaltamide in Greater China. The RAP-219 Greater China license extends this pattern.