Fierce Biotech May 22, 2024
Biogen is placing a $1.15 billion bet on Chris Viehbacher’s diversification vision. The upfront payment has secured Biogen a deal to buy Human Immunology Biosciences (HI-Bio), a biotech that is preparing to advance an anti-CD38 monoclonal antibody into phase 3 in multiple rare immune-mediated indications.
Viehbacher identified Biogen’s focus on neuroscience as a problem after he took over as CEO of the Big Biotech. For a company of its size, Biogen was too narrowly focused, Viehbacher reckoned, and that was particularly troublesome because its pipeline skewed toward high-risk neuroscience programs. The CEO responded to the perceived problem by outlining plans to expand in other areas, notably immunology.
That plan took off Wednesday, when Biogen disclosed a deal to buy HI-Bio...
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