MaRussya/iStock via Getty Images Rani Therapeutics ( NASDAQ: RANI ) said it has entered into a definitive agreement with ProGen for the co-development and commercialization of RT-114, an oral RaniPill capsule, for the treatment of obesity. Under the agreement, RANI and ProGen have agreed 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 U.
S., Europe, Canada and Australia, while ProGen will focus on the rest of the world. Each party has certain rights to sublicense in its territories.
The agreement also does not have any upfront payment or financial exchange between the companies. More on Rani Therapeutics Rani Therapeutics reports Q1 results Seeking Alpha’s Quant Rating on Rani Therapeutics Historical earnings data for Rani Therapeutics Financial information for Rani Therapeutics.
