GSK to Buy Rapt Therapeutics in Deal Valued at $2.2 Billion

GSK Plc agreed to buy Rapt Therapeutics, a US-based biotech developing treatments for patients with inflammatory and immunologic diseases, in a deal valued at $2.2 billion.

The UK drug company will pay $58 a share, equivalent to an equity value of $2.2 billion, according to a statement Tuesday. The price represents a premium of 65% compared with Rapt Therapeutics’ closing price of $35.10 on Monday.