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ANNOUNCEDSpinoffTax-Free Spinoff

AnaptysBio First Tracks Biotherapeutics

ANABAnaptysBioNASDAQ

Parent Company

AnaptysBio

ANAB

Biotechnology

SpinCo / Target

First Tracks Biotherapeutics

ANNOUNCED

2025-09-29

EXPECTED

April 2026

MARKET CAP

DEAL VALUE

Summary

AnaptysBio is spinning off its early-stage pipeline assets into First Tracks Biotherapeutics, allowing the parent to focus on its lead clinical programs while giving the SpinCo independent access to capital markets.