---
schema_version: "secwatch.filing_event.v1"
accession: "0001739410-25-000100"
form_type: "8-K"
ticker: "RLYB"
cik: "0001739410"
company_name: "Rallybio Corp"
filed_at: "2025-07-08T23:59:59+00:00"
generated_at: "2026-05-18T09:07:12.530254+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001739410-25-000100
- form_type: 8-K
- ticker: RLYB
- cik: 0001739410
- company_name: Rallybio Corp
- filed_at: 2025-07-08T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1739410/000173941025000100/0001739410-25-000100-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1739410/000173941025000100/rlyb-20250708.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001739410-25-000100
- JSON: https://secwatch.observer/filing/0001739410-25-000100.json
- Plain text: https://secwatch.observer/filing/0001739410-25-000100.txt

## Key facts
- M&A Transactions
  Rallybio Corp completed a disposition involving Recursion Pharmaceuticals, Inc. (closed 2025-07-08).
  - Action: disposition
  - Counterparty: Recursion Pharmaceuticals, Inc.
  - Closing: 2025-07-08
  source text: On July 8, 2025, Rallybio Corporation (“Rallybio”) entered into a Membership Interest Purchase Agreement (the “Purchase Agreement”) with Recursion Pharmaceuticals, Inc., (“Recursion”), Exscientia Ventures I, Inc., an indirect wholly-owned subsidiary of Recursion (“Buyer”) and Rallybio IPB, LLC, a wholly-owned subsidiary of Rallybio (“Seller”), pursuant to which Buyer purchased 50% of the issued and outstanding membership interests (the “Membership Interests”) of RE Ventures I, LLC (the “ENPP1 JV”) from Seller in exchange for cash and the issuance of shares (“Shares”) of Class A Common Stock of Recursion (the “Sale”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1739410/000173941025000100/0001739410-25-000100-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.