AnaptysBio Announces Strategic Business Split to Create Two Public Companies, Sharpening Asset Focus

AnaptysBio plans to split its business into two independent, publicly traded companies by the end of 2026:
one focused on royalty management and the other on biopharmaceutical research and development124.

Royalty Management Co will manage rights to milestone and royalty payments, particularly from Jemperli (with GSK) and imsidolimab (with Vanda), targeting predictable, cash-generating revenue streams from these assets124.

Jemperli’s sales provide a major anchor for the new royalty business, with Q2 2025 sales at $262 million and a 19% quarter-over-quarter growth; peak annual sales are projected to exceed $2.7 billion, with tiered royalty rates (8–25%) flowing to AnaptysBio12.

Biopharma Co will pursue the development and commercialization of immunology drugs, including rosnilimab (for rheumatoid arthritis), ANB033, and ANB101, continuing the company’s core R&D efforts14.

The split aims to maximize asset value, enabling investors to target distinct risk and growth profiles associated with each new company124.

Stock reaction to the announcement was positive, with AnaptysBio shares rising 10–12% in aftermarket and pre-market trading after the news34.

A portion of current Jemperli royalties is being directed to Sagard until a total payout of $600 million is reached, expected between mid-2027 and Q2 20281.

Sources:

1. https://marketchameleon.com/articles/b/2025/9/30/anaptys-2026-split-biopharma-royalty-business

2. https://www.ainvest.com/news/anaptysbio-split-companies-royalty-management-biopharmaceutical-operations-2509/

3. https://www.thepharmaletter.com/biotechnology/anaptysbio-rises-on-plans-to-split-company

4. https://www.gurufocus.com/news/3124888/anaptysbio-anab-rises-on-strategic-split-into-two-entities