- Dianthus Therapeutics has entered into an exclusive licensing agreement with Nanjing Leads Biolabs Co., Ltd. for **DNTH212**, a bifunctional BDCA2 and BAFF/APRIL inhibitor for severe autoimmune diseases.  **[1370053_926a08a00b31445498a73143fe18636f_0]** 
- Dianthus will pay Leads Biolabs up to **$38 million** in upfront and near-term milestone payments, with potential for an additional **$962 million** in development, regulatory, and sales-based milestones, plus tiered royalties.  **[1370053_926a08a00b31445498a73143fe18636f_1]** 
- The company's pro forma estimated cash is approximately **$525 million**, and it reaffirms its cash runway into **2028**.  **[1370053_926a08a00b31445498a73143fe18636f_0]** **[1370053_926a08a00b31445498a73143fe18636f_2]** 
- A Phase 1 study for DNTH212 is expected to initiate in **Q4 2025**, with top-line results in healthy volunteers anticipated in **2H 2026**.  **[1370053_926a08a00b31445498a73143fe18636f_0]** **[1370053_926a08a00b31445498a73143fe18636f_1]**

Dianthus Therapeutics Licenses DNTH212 from Leads Biolabs

- AnaptysBio, Inc. announced its intention to **separate into two independent, publicly traded companies**: a Biopharma Co focused on developing autoimmune disease therapeutics and a Royalty Management Co to manage existing royalty streams.  **[1370053_0001370053-25-000083_anb033cd122antagonistinv.htm:2]** **[1370053_0001370053-25-000083_anaptyscorporatepresenta.htm:2]** 
- The company's lead asset, **ANB033 (CD122 antagonist)**, is currently in a **Phase 1b clinical trial for Celiac Disease (CeD)**, with **top-line data anticipated by year-end 2026**.  **[1370053_0001370053-25-000083_anb033cd122antagonistinv.htm:2]** **[1370053_0001370053-25-000083_anaptyscorporatepresenta.htm:2]** **[1370053_0001370053-25-000083_anb033cd122antagonistinv.htm:12]** 
- AnaptysBio reported approximately **$294 million in cash for Q2 2025** and projects a **cash runway through year-end 2027**, which includes a **$75 million milestone from GSK**.  **[1370053_0001370053-25-000083_anb033cd122antagonistinv.htm:2]** **[1370053_0001370053-25-000083_anaptyscorporatepresenta.htm:2]** 
- The Royalty Management Co will oversee potential substantial royalties from **GSK's Jemperli** (Q2 2025 sales of **$262 million**, annualized run rate over **$1 billion**) and **Vanda's Imsidolimab** (with **$35 million in future milestones** and a **10% royalty** on global net sales).  **[1370053_0001370053-25-000083_anb033cd122antagonistinv.htm:2]** **[1370053_0001370053-25-000083_anaptyscorporatepresenta.htm:2]**

AnaptysBio Announces Intent to Separate into Two Companies and Provides ANB033 Clinical Update

- AnaptysBio intends to **separate its biopharma operations from its royalty assets in 2026**, creating two independent, publicly traded companies, with BiopharmaCo continuing to develop clinical stage programs including ANB033.  **[0001370053_2184411_1]** 
- **ANB033**, a potential best-in-class **CD122 antagonist** for autoimmune and inflammatory diseases, has initiated a **Phase 1B trial in celiac disease** and is expected to initiate a trial in a **second indication in 2026**.  **[0001370053_2184411_1]** 
- The **U.S. celiac disease market** is projected to exceed **$4 billion to $5 billion** by the early 2030s, with the diagnosed nonresponsive celiac population projected to exceed **250,000 by the early 2030s**, and currently has no approved therapies.  **[0001370053_2184411_1]** **[0001370053_2184411_14]** 
- The global placebo-controlled multicenter **Phase 1B celiac trial** will enroll **60 patients** across two cohorts to assess prevention of mucosal damage and mucosal healing, with **top-line data expected in the second half of 2026**.  **[0001370053_2184411_12]** **[0001370053_2184411_13]** **[0001370053_2184411_14]** 
- The company also identifies a significant opportunity in the **eosinophilic esophagitis (EOE) market**, which is projected to reach approximately **$5 billion in the U.S. by 2030**.  **[0001370053_2184411_14]**

AnaptysBio Provides Update on ANB033 Development and Planned Biopharma Separation

- AnaptysBio intends to **separate into two independent, publicly traded companies**: Biopharma Co., focused on developing therapeutics for autoimmune diseases, and Royalty Management Co., focused on protecting and returning royalty value to shareholders.  **[0001370053_2184354:5]** 
- The company anticipates a **cash runway through year-end 2027**, which includes a **$75 million milestone payment from GSK** for Jemperli.  **[0001370053_2184354:5]** 
- Its drug candidate **ANB033 (CD122 antagonist)** is in a **Phase 1b clinical trial for Celiac Disease (CeD)**, with top-line data anticipated by **year-end 2026**.  **[0001370053_2184354:5]** **[0001370053_2184354:28]**  This candidate targets a potential **$4-5 billion U.S. market** in non-responsive CeD patients.  **[0001370053_2184354:27]** 
- **Rosnilimab**, another key program, has completed its Phase 2b trial in Rheumatoid Arthritis, and Phase 2 data for Ulcerative Colitis is anticipated in **November/December 2025**.  **[0001370053_2184354:5]** **[0001370053_2184354:28]**

AnaptysBio Announces Intent to Separate into Two Companies and Provides Pipeline Updates

- AnaptysBio intends to **separate its biopharma operations from its royalty assets in 2026**, aiming to create two independent publicly traded companies to maximize value.  **[0001370053_2184404_1]** 
- The company has initiated a **Phase 1b trial for AMD033** in celiac disease and plans to initiate a trial in a **second indication in 2026**.  **[0001370053_2184404_1]**  Top-line data from the celiac trial is anticipated by the **end of 2026**.  **[0001370053_2184404_12]** **[0001370053_2184404_13]** 
- AMD033, a potential best-in-class CD123 antagonist, demonstrated a **favorable safety profile** in Phase 1a trials with no serious adverse events, and showed **potent reduction of CD123 expressing CD8 T cells (70-75%) and NK cells**.  **[0001370053_2184404_7]** 
- The U.S. market for non-responsive celiac disease is projected to exceed **250,000 patients by the early 2030s**, with the overall celiac market projected to surpass **$4 billion**.  **[0001370053_2184404_1]** **[0001370053_2184404_13]**  The U.S. EoE market is also expected to grow to approximately **$5 billion** by 2030.  **[0001370053_2184404_13]**

AnaptysBio Announces Planned Biopharma Separation and AMD033 Clinical Progress

- **Anaptysbio** intends to separate its operations into two independent publicly traded companies: **Royalty Management Co.** and **BioPharma Co.**, aiming to maximize shareholder value by creating distinct entities for its royalty assets and biopharma development portfolio.  **[1370053_2161424_1]** 
- The **Royalty Management Co.** will manage royalties from **JEMPRILLY** (GSK) and **Imsidolumab** (Vanda). **JEMPRILLY** sales reached **$262 million** in Q2 2025, nearly doubling year-over-year, and could generate **$390 million** in annual royalties for Anaptys based on GSK's peak sales guidance.  **[1370053_2161424_2]** 
- The **BioPharma Co.** will focus on developing its pipeline, including **AB033**, **AMV101**, and **rozanolimab**, and is expected to launch with adequate capital to fund operations for at least **two years**.  **[1370053_2161424_1]** **[1370053_2161424_3]** 
- The separation is anticipated to be completed by year-end **2026**.  **[1370053_2161424_4]**  Anaptys reported approximately **$300 million** in cash as of Q2 2025, with a cash runway through year-end 2027, and has repurchased about **10%** of its outstanding shares since March.  **[1370053_2161424_1]**

Anaptysbio Announces Plan to Separate into Two Publicly Traded Companies

- AnaptysBio announced its intention to separate into two independent, publicly traded companies: a **Royalty Management Co** and a **Biopharma Co**, with the goal of unlocking and maximizing shareholder value.  **[1370053_2161734:3]** 
- The **Royalty Management Co** will focus on protecting and returning the value of royalties to shareholders, managing rights to potential substantial **Jemperli royalties from GSK** and imsidolimab milestones and royalties from Vanda Pharmaceuticals.  **[1370053_2161734:3]** 
- The **Biopharma Co** will focus on developing and potentially commercializing innovative therapeutics, retaining antibody R&D capabilities and a pipeline including **rosnilimab, ANB033, and ANB101**.  **[1370053_2161734:3]** 
- AnaptysBio reported a **strong capital position** with approximately **$294 million in cash** as of Q2 2025 and an expected cash runway through **year-end 2027**.  **[1370053_2161734:3]** 
- The separation of the Biopharma Co is anticipated to be completed by **year-end 2026**.  **[1370053_2161734:7]**

AnaptysBio Announces Strategic Separation into Two Independent Companies

- AnaptysBio, Inc. announced its intent to separate its business into two independent, publicly traded companies, **Royalty Management Co** and **Biopharma Co**, by **year-end 2026**.  **[1370053_0001370053-25-000081_anaptysannouncesintentto.htm:0]** **[1370053_0001370053-25-000081_anaptysannouncesintentto.htm:1]** 
- **Royalty Management Co** will manage royalties and milestone payments from financial collaborations, including Jemperli with GSK and imsidolimab with Vanda.  **[1370053_0001370053-25-000081_anaptysannouncesintentto.htm:0]**  Jemperli reported **$262 million** in Q2 2025 sales, and GSK guides to over **£2 billion** (approximately **$2.7 billion**) in peak sales for Jemperli in monotherapy indications.  **[1370053_0001370053-25-000081_anaptysannouncesintentto.htm:0]** 
- **Biopharma Co** will focus on the development and potential commercialization of innovative immunology therapeutics, including rosnilimab, ANB033, and ANB101, and is expected to launch with adequate capital to fund operations for at least **two years**.  **[1370053_0001370053-25-000081_anaptysannouncesintentto.htm:0]** **[1370053_0001370053-25-000081_anaptysannouncesintentto.htm:1]** 
- Anaptys anticipates the **$600 million** Sagard paydown from Jemperli royalties will occur between mid-2027 and Q2 2028.  **[1370053_0001370053-25-000081_anaptysannouncesintentto.htm:1]** 
- Top-line data for rosnilimab's Phase 2 trial in ulcerative colitis is expected in **November or December 2025**.  **[1370053_0001370053-25-000081_anaptysannouncesintentto.htm:1]** **[1370053_0001370053-25-000081_anaptysannouncesintentto.htm:2]**

AnaptysBio Announces Intent to Separate Biopharma Operations from Royalty Assets

- AnaptysBio's lead program, **rosnilimab**, completed a Phase IIb trial in rheumatoid arthritis (RA) in August 2025, showing **high impact and durable responses** with a **safe and tolerable profile**.  **[1370053_2145696_0]** 
- Initial data from rosnilimab's Phase IIb trial in ulcerative colitis (UC) is expected to read out in **Q4 2025** at three months, with a full strategic decision on the path forward anticipated after six-month data in **2026**.  **[1370053_2145696_0]** **[1370053_2145696_6]** 
- The company is well-capitalized with almost **$300 million** as of summer 2025 and expects a **$75 million milestone payment** from GSK due to dostarlimab (Jemperli) exceeding **$1 billion** in revenue in 2025.  **[1370053_2145696_0]** 
- AnaptysBio's second program, **ANB033**, a CD122 receptor antagonist, is nearing initiation of its initial Phase IB indication in celiac disease, with an investor relations event planned for **Q4 2025** to discuss the program.  **[1370053_2145696_0]** **[1370053_2145696_7]** 
- AnaptysBio addressed concerns regarding competitor Eli Lilly's PD-1 agonist, parasolumab, which showed malignancies in its Phase IIb study, asserting that rosnilimab is a **different drug** and its mechanism is **not linked to these safety concerns**, citing its own clean safety profile across hundreds of patients.  **[1370053_2145696_0]** **[1370053_2145696_1]** **[1370053_2145696_2]**

AnaptysBio Provides Updates on Rosnilimab Trials, Pipeline, and Financial Position

- AnaptysBio's lead program, rosnilimab, showed **remission rates surpassing best-in-class medicines** in a Phase IIb arthritis study and is expected to release initial data from its ulcerative colitis trial in **Q4 2025**.  **[1370053_tx_380776_0]** 
- The company's second program, ANB033, a CD122 antagonist, will have its initial Phase Ib indication in **celiac disease**, a market with **over 2 million patients in the U.S.** and no commercial drugs.  **[1370053_tx_380776_0]** **[1370053_tx_380776_7]** 
- AnaptysBio is **well-financed through year-end 2027** and holds significant royalty streams from GSK's Jemperli, with **royalties reaching up to 25%** and GSK guiding to **$2.5 billion in peak sales** for Jemperli monotherapy.  **[1370053_tx_380776_0]** **[1370053_tx_380776_7]**

ANAPTYSBIO (ANAB)