Bolt Projects Holdings, Inc. shares rise 1.54% premarket after Royalty Pharma and Zenas BioPharma announced a $300 million funding deal for obexelimab.

Bolt Projects Holdings, Inc. rose 1.54% in premarket trading, with Royalty Pharma and Zenas BioPharma entering into a partnership to fund the potential U.S. commercial launch of obexelimab for the treatment of IgG4-Related Disease. Royalty Pharma will provide up to $300 million in funding in exchange for a royalty on sales of obexelimab, which is a positive development for Zenas BioPharma.