GlaxoSmithKline Financial Collaboration
Our financial collaboration with GlaxoSmithKline (GSK) is focused upon the development and commercialization of Anaptys-discovered Jemperli (dostarlimab), a PD-1 antagonist, currently approved for endometrial cancer and dMMR pan tumors, and currently being studied in rectal cancer, colon cancer and head and neck squamous cell carcinoma.
Potential royalties and milestones to Anaptys from GSK financial collaboration1
Royalty Rate
(annual WW net sales)
8% – $0 to $1 billion
12% – $1.0 to $1.5 billion
20% – $1.5 to $2.5 billion
25% – >$2.5 billion
Composition of Matter Patent Expiry Date
United States – 2035
Europe – 2036
Japan – 2037
Potential for patent term extensions into 2038
1. Following capped non-recourse monetizations of $300MM, Jemperli receivables are payable to Sagard Healthcare Royalty Partners until a cumulative $600MM paydown by Mar. 31, 2031. As of YE 2025, ~$250MM has been accrued to Sagard with a projected cumulative $600MM paydown as early as Q2 2027. This projection assumes a constant ~10% quarter-over-quarter growth rate for Jemperli from Q4’25 through Q2’27 and milestone payments associated with filing ($5MM) and approval ($10MM) of dMMR rectal in the EU.
Vanda Imsidolimab (IL-36R) Financial Collaboration
Our financial collaboration with Vanda is focused upon the development and commercialization of Anaptys-discovered imsidolimab, an IL-36R antagonist, currently being developed for generalized pustular psoriasis (GPP).
Exclusive global license to Vanda
announced February 2025
10% royalties on global net sales
FDA BLA submitted and accepted for generalized pustular psoriasis (GPP)
Target action date of December 12, 2026