BioPharma Dive May 22, 2024
The deal, only Biogen’s third since the start of 2018, is a sign the company is open to branching out beyond the neurological drugs that have long been its focus.
Dive Brief:
- Biogen is scooping up a closely held immunology startup to bring more diversity to a pipeline best known for neurology products.
- Per deal terms, Biogen will pay $1.15 billion in cash up front to acquire Human Immunology Biosciences, or HI-Bio, and as much as $650 million more if the startup’s lead drug achieves certain milestones. The medicine, felzartamab, has completed Phase 2 trials for two kidney conditions, with a third study ongoing.
- The acquisition won’t affect Biogen’s 2024 financial guidance, the company said Wednesday. It plans to...
Today's Sponsors
Today's Sponsor