Rani Therapeutics announced a strategic collaboration with Chugai to pair Rani’s oral biologic delivery capsule with a Chugai experimental antibody for a rare-disease indication, in a deal valued at up to $1.08 billion. Rani disclosed the partnership alongside clinical and corporate updates, positioning its robotic oral-delivery platform as a route to replace injections for biologics. The agreement includes development and regulatory milestones plus commercial royalties; it underscores industry interest in noninvasive biologic delivery and could validate Rani’s technology if the candidate advances into later-stage testing. Observers will watch upcoming clinical data to evaluate durability of absorption and systemic exposure compared with parenteral dosing.