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AnaptysBio Plans Q2 2026 Separation into Biopharma and Royalty Management Businesses
ANAB
M&A
Legal Proceedings
New Projects/Investments
- AnaptysBio announced its intention to separate into two distinct businesses, BiopharmaCo and Royalty Management Co, likely in Q2 2026, to align with differing business strategies and investment philosophies.
- The BiopharmaCo will focus on advancing three clinical assets: AMB033 (currently in Phase 1b trials for celiac disease and eosinophilic esophagitis (EoE)), Rosnilimab (with positive Phase 2b results in Arthritis, exploring Phase 3 funding), and ANB101 (in ongoing Phase 1a studies).
- The Royalty Management Co will hold rights to royalties from Jemperli (GSK) and Imsidolimab (Vanda); Jemperli royalties could reach $390 million at GSK's projected peak sales of $2.7 billion.
- AnaptysBio is engaged in litigation with GSK concerning alleged material breaches of contract related to Jemperli, with a trial scheduled for July 14th and 17th, 2026, where a finding of material breach could lead to the reversion of Jemperli rights back to AnaptysBio.
- The company reported $310 million in cash at the start of 2026, which is expected to fund the biopharma operations and provide sufficient capital for the Royalty Management business post-separation.
Jan 14, 2026, 12:30 AM
AnaptysBio Announces Planned Separation into Two Businesses and Provides Business Updates
ANAB
New Projects/Investments
Legal Proceedings
Guidance Update
- AnaptysBio plans to separate into two distinct businesses, BiopharmaCo and Royalty Management Co, likely in Q2 2026, to unlock value by differentiating investment strategies.
- The company reported $310 million in cash at the start of 2026.
- The Royalty Management Co will manage royalties from Jemperli (GSK), which generated over $300 million in Q3 2025 revenue, and Imsidolimab (Vanda), with expected BLA approval in 2026.
- AnaptysBio is involved in litigation with GSK over alleged contract breaches concerning Jemperli, with a trial set for July 14th and 17th, which could potentially lead to the reversion of Jemperli rights.
- The BiopharmaCo will advance AMB033 (Phase 1b in celiac disease and EoE), Rosnilimab (positive Phase 2b in arthritis, seeking Phase 3 funding), and ANB101 (Phase 1a).
Jan 14, 2026, 12:30 AM
AnaptysBio Announces Planned Separation into Two Companies and Updates on Pipeline and Litigation
ANAB
New Projects/Investments
Legal Proceedings
Guidance Update
- AnaptysBio intends to separate into two businesses, Biopharma Co and Royalty Management Co, likely in Q2 2026, driven by different business strategies and investment philosophies.
- The company reported $310 million of cash at the beginning of 2026, which is expected to fund the biopharma business and provide sufficient capital for the Royalty Management Co.
- The Royalty Management Co will manage royalties from JEMPERLI (with sales inflecting in 2025 and potential peak royalties of $390 million at $2.7 billion peak sales) and imsidolimab (BLA filed in December 2025, with approval expected in 2026).
- AnaptysBio is involved in litigation with GSK concerning JEMPERLI, alleging material breaches of contract, with a trial scheduled for July 14th and 17th.
- The Biopharma Co's clinical pipeline includes ANB033 (in Phase 1B trials for celiac disease and EoE) and rosnilimab (positive Phase 2B results in arthritis, seeking strategic or financial capital for Phase 3).
Jan 14, 2026, 12:30 AM
AnaptysBio Provides Preliminary Q4 2025 Financials and Strategic Update
ANAB
New Projects/Investments
Guidance Update
Revenue Acceleration/Inflection
- AnaptysBio expects to report preliminary cash and investments of approximately $310 million as of December 31, 2025, which includes a one-time $75 million commercial sales milestone from GSK received in December 2025.
- The company intends to separate into two independent, publicly traded companies (Biopharma Co and Royalty Management Co) as early as Q2 2026.
- Key pipeline updates include positive Phase 2b data for rosnilimab in Rheumatoid Arthritis, while its Ulcerative Colitis trial will be discontinued due to lack of efficacy.
- The Royalty Management Co will manage Jemperli royalties from GSK and imsidolimab royalties from Vanda, with the latter having an FDA BLA submitted for Generalized Pustular Psoriasis in December 2025.
- Approximately $250 million was accrued to Sagard as of year-end 2025 for Jemperli receivables, with a projected $600 million paydown between Q2 2027 and Q1 2028.
Jan 9, 2026, 10:17 PM
AnaptysBio Details Strategic Separation and Pipeline Progress
ANAB
New Projects/Investments
Legal Proceedings
Guidance Update
- AnaptysBio plans a strategic separation into two independent businesses in 2026: a royalty management business and a biopharma assets business.
- The biopharma segment will focus on ANB033, with celiac disease trial data expected in Q4 2026, and Rosnilimab, which will advance to Phase 3 development for rheumatoid arthritis in 2026 with external funding.
- The royalty business is anchored by Jemperli, projected to achieve $1.4 billion in sales for GSK in 2025, contributing approximately $100 million in royalty income to AnaptysBio in 2025.
- The company expects to end 2025 with $300 million in cash, including a $75 million milestone from GSK, and anticipates paying off its non-recourse debt by Q2 2027.
- AnaptysBio is involved in litigation with GSK regarding Jemperli, with an expedited trial expected by summer 2026.
Dec 3, 2025, 12:55 PM
AnaptysBio Details Planned Business Separation and Pipeline Progress
ANAB
M&A
New Projects/Investments
Legal Proceedings
- AnaptysBio plans to separate its business into two independent entities in 2026: a biopharma operations company and a royalty management company.
- The biopharma company's lead asset, ANB033, a CD122 antagonist, initiated a trial in celiac disease in 2025 with data expected in Q4 2026, and a second trial in EOE will start in 2026.
- Rosnilimab, for rheumatoid arthritis, showed positive Phase 2b data and is slated for Phase 3 development in 2026, contingent on external funding. An end-to-phase 2 meeting with the FDA is scheduled by the end of Q1 2026.
- The royalty business includes rights to Jemperli, which is projected to reach $1.4 billion in sales by the end of 2025. AnaptysBio is engaged in litigation with GSK regarding Jemperli, with an expedited trial anticipated by summer 2026.
- AnaptysBio expects to end 2025 with $300 million in cash, including an accrued $75 million milestone from GSK. The royalty management business is projected to be cash flow positive by Q2 2027 after debt repayment.
Dec 3, 2025, 12:55 PM
AnaptysBio Outlines Biopharma Split and Drug Development Timelines
ANAB
New Projects/Investments
Legal Proceedings
Guidance Update
- AnaptysBio plans to split its operations into two independent publicly traded companies by year-end 2026, comprising a royalty management business and a biopharma business, with the separation potentially occurring in the first half of the year.
- The company anticipates ending the current year with $300 million in cash, including an accrued $75 million payment from a Jemperli milestone, and is committed to separating the biopharma business with at least two years of capital.
- For its rosnilimab program for Rheumatoid Arthritis, AnaptysBio is preparing Phase 3 trial designs for an FDA meeting by the end of Q1 and will provide an update on its advancement and financing strategy in the first half of next year.
- The AMB-033 celiac disease trial is expected to read out the totality of its Phase 1b study data in Q4 of next year.
Dec 2, 2025, 6:30 PM
AnaptysBio Announces Biopharma Operational Split and Program Updates
ANAB
New Projects/Investments
Guidance Update
- AnaptysBio plans an operational split of its biopharma and royalty management businesses, targeting completion by year-end 2026. This will create two independent publicly traded companies, with the current AnaptysBio becoming the royalty business and the biopharma assets spinning off.
- The company anticipates ending 2025 with $300 million in cash, which includes a $75 million Jemperli milestone payment. The separated biopharma business will be capitalized with at least two years of operating capital.
- For AMB-033 in celiac disease, phase 1b study results are expected in Q4 2026.
- For rosnilimab in rheumatoid arthritis, an FDA end-of-phase 2 meeting is planned by the end of Q1 2026, with an update on phase 3 advancement expected in the first half of 2026.
Dec 2, 2025, 6:30 PM
AnaptysBio Announces Biopharma Operational Split and Provides Clinical Program Updates
ANAB
New Projects/Investments
Guidance Update
- AnaptysBio plans to split its operations into two independent publicly traded companies by year-end 2026, potentially in the first half of 2026, separating its royalty management business from its biopharma assets.
- The biopharma business is projected to end 2025 with $300 million in cash, including a $75 million payment from GSK, and will be separated with at least two years of capital.
- Top-line data for the Phase I-B study of AMB-033 in celiac disease is expected in Q4 of next year (2026).
- AnaptysBio will meet with the FDA by the end of Q1 (2026) for an end-of-Phase II meeting for rosnilimab in rheumatoid arthritis and will provide an update on its advancement in the first half of next year (2026).
Dec 2, 2025, 6:30 PM
AnaptysBio Files Lawsuit Against Tesaro and GSK Over Collaboration Agreement
ANAB
Legal Proceedings
- AnaptysBio, Inc. initiated a lawsuit on November 20, 2025, in Delaware Chancery Court, alleging that Tesaro, Inc. materially breached their Collaboration and Exclusive License Agreement and that GlaxoSmithKline (GSK) tortiously interfered with the agreement.
- The complaint states that Tesaro and GSK allegedly withheld material information, including an ongoing I-SPY Trial involving dostarlimab, and prioritized GSK's antibody-drug conjugate (ADC) programs over optimizing dostarlimab's commercial opportunity.
- AnaptysBio is seeking a court declaration that Tesaro's breaches are incurable, which would entitle AnaptysBio to all rights and remedies under the agreement, including the reversion of rights to dostarlimab.
- In response, Tesaro and GSK publicly filed their own complaint against AnaptysBio on November 26, 2025, claiming AnaptysBio breached the Collaboration Agreement.
Nov 26, 2025, 9:00 PM
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