First Tracks Biotherapeutics, the Planned Spin-Off of Anaptys, Secures Commitments of $145 Million in Private Placement

Core Viewpoint - AnaptysBio, Inc. is proceeding with the spin-off of First Tracks Biotherapeutics, Inc., which has secured a $145 million private placement agreement with third-party investors, expected to close upon the completion of the spin-off on April 20, 2026 [1][2]. Group 1: Financial Details - First Tracks Bio is selling 5,791,478 shares at a price of $13.81 per share, generating $80 million in gross proceeds [2]. - The Selling Stockholder is selling 4,705,576 shares at the same price, contributing to the overall financing [3]. - The total cash available for First Tracks Bio at launch will be $180 million, including proceeds from the private placement, providing a two-year cash runway [8]. Group 2: Use of Proceeds - Proceeds from the sale of shares will be utilized for general corporate purposes, specifically for the clinical development of ANB033, a CD122 antagonist [3]. Group 3: Investor Participation - The financing round includes participation from various investors such as 683 Capital Partners, Adage Capital Partners, and others, with placement agents being Leerink Partners, Barclays, and UBS Investment Bank [4].