Rallybio sells ENPP1 JV stake to Recursion for up to $25M; cash runway to mid-2027

Rallybio Corp

Upfront equity payment of $7.5M (1,457,952 Recursion shares); potential $12.5M contingent equity and $5M clinical milestone.
Rallybio eligible for low single-digit royalties on future net sales of REV102 (ENPP1 inhibitor for HPP).
Deal extends Rallybio's cash runway to mid-2027; company sharpens focus on RLYB116 confirmatory study topline data this year.
REV102 was in IND-enabling studies; Recursion gains full ownership to accelerate development.

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