AnaptysBio Spin-Off Secures $145 Million in Private Placement, Launches with $180 Million in Cash

First Tracks Biotherapeutics, a planned spin-off of AnaptysBio, has secured commitments for a $145 million private placement. The deal includes $80 million in proceeds from a private placement by leading investors and will give First Tracks Bio a cash runway of two years, with a total of $180 million in cash. The financing was led by Leerink Partners, Barclays, and UBS Investment Bank, and included participation from new and existing investors.