AnaptysBio Charts Path To Split Into Two Public Companies By 2026

Core Viewpoint - AnaptysBio, Inc. plans to separate its business into two independent, publicly traded companies: Royalty Management Co and Biopharma Co, allowing investors to align their investment strategies with each company's objectives [1][2] Royalty Management Co Profile - Royalty Management Co will manage rights to significant royalties from GSK's Jemperli and milestones from Vanda Pharmaceuticals, focusing on maximizing shareholder value [3] - GSK reported Jemperli sales of $262 million in Q2 2025 and $482 million in the first half of 2025, with peak sales guidance of approximately $2.7 billion for Jemperli in monotherapy indications [4] - For imsidolimab, Royalty Management Co could receive up to $35 million in future sales milestones and a 10% royalty on net sales, with Vanda planning FDA BLA submission for generalized pustular psoriasis in the second half of 2025 [5] Biopharma Co Profile - Biopharma Co will focus on developing therapeutics for autoimmune and inflammatory diseases, including rosnilimab, ANB033, and ANB101, with rosnilimab having completed a Phase 2b trial in rheumatoid arthritis [6] - Anaptys is exploring strategic options for rosnilimab, which may influence its economic value allocation between the two companies [7] - Biopharma Co is expected to have a new name and sufficient capital for at least two years of operations, with the separation anticipated to be completed by year-end 2026 [7] Leadership and Market Reaction - Daniel Faga, the current president and CEO of Anaptys, is expected to lead Biopharma Co post-separation [8] - Following the announcement, ANAB stock increased by 28.95%, reaching $30.01 [8]