AnaptysBio, Inc. (NASDAQ:ANAB) announced on Tuesday that it plans to explore separating its business into two independent, publicly traded companies.

Referred to as “Royalty Management Co” and “Biopharma Co,” the two companies’ different business models enable investors to align their investment philosophies and portfolio allocation with each company’s strategic opportunities and financial objectives.

“Anaptys is strategically positioned with multiple attractive, high-potential assets…,” said Daniel Faga, president and chief executive officer of Anaptys.

Royalty Management Co Profile

Upon completion, Royalty Management Co will hold and continue to manage the rights to the potential substantial Jemperli royalties from GSK Plc (NYSE:GSK) and imsidolimab milestones and royalties from Vanda Pharmaceuticals Inc (NASDAQ:VNDA) with a focus on protecting and returning value of the royalties to its shareholders.

GSK recently announced Jemperli sales of $262 million in Q2 2025 and $482 million in the first half of 2025.

GSK has continued to guide approximately $2.7 billion in peak sales for Jemperli in monotherapy indications.

In addition to the marketed indications in endometrial cancer and dMMR solid tumors, GSK is conducting multiple registrational and proof-of-concept studies for Jemperli in additional indications for monotherapy and combinations.

Also Read: AnaptysBio’s Arthritis Drug Matches Top Therapies In Phase 2 Trial, Analyst Sees Turning Point

For imsidolimab, under the financial collaboration with Vanda, Royalty Management Co would be eligible to receive up to $35 million for future sales milestones and regulatory approvals, including a $5 million milestone upon U.S. FDA approval, in addition to a 10% royalty on net sales. Vanda anticipates FDA BLA submission for generalized pustular psoriasis (GPP) in the second half of 2025.

Biopharma Co Profile

Biopharma Co will be a clinical-stage biotechnology company focused on developing and potentially commercializing therapeutics for autoimmune and inflammatory diseases, including rosnilimab, ANB033 and ANB101.

Rosnilimab, a pathogenic T cell depleter, has completed a Phase 2b trial in rheumatoid arthritis (RA). It’s also in a Phase 2 trial for ulcerative colitis (UC). Topline data through Week 12 is expected to be available in November or December 2025.

Anaptys is assessing multiple strategic paths forward for rosnilimab, including securing a global partnership. The outcome of this assessment could impact how the economic value of rosnilimab is allocated between Royalty Management Co. and Biopharma Co.

Upon completion, Biopharma Co. will have a new name and sufficient capital to fund operations for at least two years.

Anaptys anticipates the separation of Biopharma Co. will be completed by year-end 2026.

After the separation, Daniel Faga, president and CEO of Anaptys, is anticipated to be the CEO of Biopharma Co.

Price Action: ANAB stock is up 28.95% at $30.01 at the last check on Tuesday.

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