Biogen to buy biotech Human Immunology Biosciences for up to $1.8bn

22nd May 2024 13:33

(Sharecast News) - Biogen said on Wednesday that it has agreed to buy Human Immunology Biosciences (HI-Bio) for up to $1.8bn.

HI-Bio is a privately-held clinical-stage biotechnology company focused on targeted therapies for patients with severe immune-mediated diseases (IMDs).

Biogen has agreed to pay $1.15bn upfront and up to $650m in potential milestone payments.

HI-Bio's lead asset, felzartamab, has received Breakthrough Therapy Designation (BTD) and Orphan Drug Designation (ODD) from the US Food and Drug Administration (FDA) for development in the treatment of primary membranous nephropathy (PMN) and has received ODD in the treatment of antibody-mediated rejection (AMR) in kidney transplant recipients.

Priya Singhal, head of development at Biogen, said: "We believe this late-stage asset, which has demonstrated impact on key biomarkers and clinical endpoints in three renal diseases with serious unmet needs, is a strategic addition to the Biogen portfolio as we continue to augment our pipeline and build on our expertise in immunology.

"We look forward to welcoming HI-Bio employees into Biogen and, together, working to advance potential therapies for patients with rare immune diseases with high unmet need."