Business
AnaptysBio Announces Agreement to Monetize Portion of JEMPERLI Royalties for $250 Million with Sagard
AnaptysBio to receive $250 million upfront cash payment from Sagard Healthcare Royalty PartnersSagard to receive AnaptysBio’s 8% royalty on annual global net
About this update from Anaptysbio, Inc.
[{"type":"text","content":"AnaptysBio to receive $250 million upfront cash payment from Sagard Healthcare Royalty PartnersSagard to receive AnaptysBio’s 8% royalty on annual global net sales of JEMPERLI (dostarlimab-gxly) below $1 billion, plus certain future regulatory and commercial sales milestones, while AnaptysBio retains 12-25% royalties and milestones on annual global net sales at or above $1 billionAgreement expires once Sagard receives capped return equivalent to either 125% of the upfront payment if received by end 2026, 135% if received during 2027 or 165% thereafterRecent GSK estimates anticipate peak annual global JEMPERLI sales of approximately $1.4-$2.8 billionAnaptysBio expects to end 2021 with approximately $600 million in cash and will continue to operate in a capital-efficient manner SAN DIEGO, Oct. 25, 2021 (GLOBE NEWSWIRE) -- AnaptysBio, Inc. (Nasdaq: ANAB), a clinical-stage biotechnology company developing first-in-class antibody product candidates focused on emerging immune control mechanisms applicable to inflammation and immuno-oncology indications, today announced the signing of an agreement with Sagard Healthcare Royalty Partners to monetize a portion of AnaptysBio’s future JEMPERLI royalties and milestones. AnaptysBio intends to utilize the proceeds of the transaction towards funding of its wholly-owned preclinical and clinical-stage antibody programs. “We believe this transaction with Sagard validates the future commercial potential of JEMPERLI and brings significant non-dilutive funding to AnaptysBio,” said Hamza Suria, president and chief executive officer of AnaptysBio. “Using our capital-efficient business model, AnaptysBio will continue to focus on advancing wholly-owned therapeutic antibodies to clinical data catalysts and the discovery of novel preclinical antibodies to emerging inflammation and immuno-oncology targets.” “We are thrilled to partner with AnaptysBio on this royalty transaction which reflects our confidence in JEMPERLI as a treatment for patients with certain endometrial and solid tumor cancers. Sagard’s investment is aligned with our goal of accelerating biopharmaceutical innovation by providing our partners with flexible sources of financing,” said Ali Alagheband, Partner at Sagard Holdings. Upon closing of this transaction, which is anticipated by the end of 2021, Sagard will pay AnaptysBio $250 million...