Pharma BD Deal Intelligence

Vanda Pharmaceuticals / AnaptysBio, Inc.

2025 · Licensing/Option · $15M · Complete

Vanda Pharmaceuticals and AnaptysBio entered an exclusive global license agreement on February 3, 2025 for Vanda to develop and commercialize imsidolimab, an IL-36R antagonist monoclonal antibody that completed two registration-enabling global Phase 3 trials (GEMINI-1 and GEMINI-2) in generalized pustular psoriasis. Anaptys receives $15 million, comprised of a $10 million upfront payment and $5 million for existing drug supply, plus a 10% royalty on global net sales. Vanda said it would immediately begin preparing BLA and MAA submissions.

This deal is too recent to grade. Critic Score and Outcome Score are assigned after the announcement-week coverage settles and, for Outcome, after the 5-year post-close assessment window opens — expected 2030 at the earliest for this deal, once/if it closes.

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