AnaptysBio to Split into Two Public Entities by End of 2026
AnaptysBio is set to divide its business into two publicly traded entities by the end of 2026. The move comes as the company prepares to spin off its biopharma operations, with the leadership of the new entity yet to be determined.
The biopharma entity will concentrate on developing ANB033, ANB101, and rosnilimab, with enough funding to operate independently for at least two years post-split. Rosnilimab, a T cell depleter, has shown promising results in Phase IIb trials for rheumatoid arthritis and is currently being tested for ulcerative colitis. Daniel Faga, AnaptysBio's current CEO, will lead the biopharma spinout.
The other entity will focus on royalty management. It will primarily handle royalties from Jemperli, a PD-1 blocker indicated for endometrial cancer and solid tumors, which AnaptysBio discovered and licensed to TESARO in 2014. GSK later acquired TESARO for $5.1 billion and maintains peak Jemperli sales guidance of around $2.7 billion. The royalty entity will also manage payments from Vanda Pharmaceuticals for imsidolimab, a drug for generalized pustular psoriasis, with potential milestone payments of $35 million and a 10% royalty on net sales.
The split will allow each entity to focus on its core competencies, potentially accelerating innovation and growth. While the leadership of the biopharma entity remains uncertain, the spin-off is expected to create two strong, independent companies.
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