Biogen has announced the acquisition of Human Immunology Biosciences (HI-Bio), a biotechnology firm specializing in providing targeted therapies for severe immune-mediated diseases. The transaction was valued at USD 1.15 billion, with potential milestone payments up to USD 650 million. The acquisition is planned to be finalized in the third quarter of 2024.
Post-acquisition, Biogen will gain ownership of HI-Bio’s lead candidate felzartamab, a late-stage asset for renal diseases. Biogen aims to combine HI-Bio’s expertise with its own resources to further develop this program as well as develop novel therapies. The candidate has been granted FDA breakthrough therapy designation and orphan drug designation for the treatment of primary membranous nephropathy.
Biogen is a biotechnology company specializing in the discovery, development, and delivery of therapies for neurological and neurodegenerative diseases. Biogen's portfolio includes treatments for multiple sclerosis such as Avonex, Tysabri, Tecfidera, and Vumerity. The company also markets Spinraza for spinal muscular atrophy and Aduhelm for Alzheimer's disease.
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