GlaxoSmithKline Immuno-Oncology Financial Collaboration
Our immuno-oncology financial collaboration with GlaxoSmithKline (GSK) is focused upon the development and commercialization of Anaptys-generated checkpoint antagonist antibodies to PD-1 and TIM-3. The exclusively licensed products being advanced by GSK under this partnership include Jemperli™ (dostarlimab) and cobolimab in second line NSCLC.
Potential royalties from GSK immuno-oncology financial collaboration


(Anti-PD-1 antagonist)

8% – 25% royalties on annual net sales

Cobolimab(Anti-TIM-3 antagonist)
  • Royalty rate on cobolimab includes potential cobolimab-portion of combination use with dostarlimab in P3 COSTAR trial (2L NSCLC)
  • 4-8% royalties on annual net sales

Remaining Milestones

(Anti-PD-1 antagonist)

$15mm regulatory
$90MM commercial on annual net sales <$1B

  • $75mm commercial on annual net sales ≥ $1B
Cobolimab(Anti-TIM-3 antagonist)
  • $5MM clinical development
  • $90MM regulatory
  • $165MM commercial

  • Jemperli Capped Non-Recourse Monetization:
  • Selected receivables (designated in orange text above) payable to Sagard until either of the following capped returns achieved:
  • $600MM by March 31, 2031
  • -or-
  • $675MM after March 31, 2031

Note: Anaptys’ capped non-recourse monetization agreement has brought a total of $300 million of non-dilutive capital, including $250 million in Oct. 2021 and $50 million in May 2024.
Note: Sale of Zejula (niraparib) royalty interest in September 2022 to wholly-owned subsidiary of DRI Healthcare Trust for $35mm upfront + $10mm potential milestone upon FDA approval of Zejula for the treatment of endometrial cancer, to the extent that such approval occurs on or before 12/31/25. At present, the Jemperli plus Zejula combination demonstrated significantly improved PFS in primary advanced or recurrent endometrial cancer in the RUBY Phase III trial.