AnaptysBio to Separate Biopharma Operations From Royalty Assets

Paul, Weiss is advising AnaptysBio, Inc., a clinical-stage biotechnology company delivering innovative immunology therapeutics, in the separation of its business into two independent, publicly traded companies with different business objectives and opportunities. 

Under the terms of the agreement, one of the newly created companies will hold and continue to manage the rights to the potential substantial royalties from financial collaborations, including with GSK, in connection with AnaptysBio’s cancer immunotherapy treatment Jemperli, and with Vanda Pharmaceuticals, in connection with its psoriasis treatment imsidolimab. 

The other newly created company will be a clinical-stage biotechnology company focused on the development and potential commercialization of innovative therapeutics for autoimmune and inflammatory diseases. The separations are expected to be completed by the end of 2026, subject to customary closing conditions, with both new businesses operating under new names.

The Paul, Weiss team is led by corporate partners Krishna Veeraraghavan and Benjamin Goodchild and includes partner Christodoulos Kaoutzanis; executive compensation partner Matthew Friestedt; tax partner Brian Krause and counsel Alyssa Wolpin; and intellectual property partners Jonathan Ashtor and Jeffrey Osterman.