Biotech Startup First Tracks Secures $145M in Private Funding

Spin-off from AnaptysBio to launch with $180M in cash and two-year runway

Mar. 30, 2026 at 4:22am

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First Tracks Biotherapeutics, a planned spin-off from biotech company AnaptysBio, has secured $145 million in private placement funding from a group of leading investors. The funding includes $80 million in proceeds from the sale of new shares, giving First Tracks an initial $180 million in cash and a two-year runway to advance its pipeline, including the CD122 antagonist ANB033.

Why it matters

This significant private funding round provides a strong financial foundation for First Tracks as it launches as an independent biotech company. The influx of capital will allow the company to accelerate the development of its lead drug candidate and expand its pipeline, positioning it for future growth and potential partnerships or acquisitions.

The details

In the private placement, First Tracks is selling 5.8 million new shares at $13.81 per share, raising $80 million. An additional 4.7 million shares are being sold by existing shareholder EcoR1 Capital. The funding round included participation from a diverse group of new and existing institutional investors, including 683 Capital Partners, Adage Capital, Janus Henderson, and others. First Tracks plans to use the proceeds for general corporate purposes, including the clinical development of its CD122 antagonist ANB033.

  • The private placement is expected to close upon completion of the spin-off of First Tracks from AnaptysBio, which is anticipated on April 20, 2026.
  • First Tracks will launch with $180 million in cash and a two-year cash runway.

The players

First Tracks Biotherapeutics

A planned spin-off company from biotech firm AnaptysBio that is developing novel biotherapeutics, including the CD122 antagonist ANB033.

AnaptysBio, Inc.

The parent company of First Tracks Biotherapeutics, a publicly traded biotech firm focused on developing antibody and protein-based therapeutics.

EcoR1 Capital

An existing shareholder of First Tracks Biotherapeutics that is selling 4.7 million shares as part of the private placement.

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What’s next

The private placement is expected to close upon completion of the spin-off of First Tracks from AnaptysBio, which is anticipated on April 20, 2026.

The takeaway

The $145 million in private funding secured by First Tracks Biotherapeutics will give the newly independent biotech company the resources it needs to advance its pipeline, including its lead CD122 antagonist candidate, and establish itself as a player in the highly competitive biopharmaceutical industry.