Biotechnology Company Biogen, on Wednesday, announced an agreement to acquire Human Immunology Biosciences (HI-Bio) for $1.15 billion upfront and up to $650 million in potential milestone payments, boosting Biogen’s pipeline with targeted therapies for severe immune-mediated diseases.
HI-Bio’s lead asset, Felzartamab, is a fully human anti-CD38 monoclonal antibody. Felzartamab depletes CD38+ cells, including plasma and natural killer cells, and has shown promise in clinical studies for treating primary membranous nephropathy (PMN) and antibody-mediated rejection (AMR) in kidney transplants.
“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,” said Priya Singhal, Head of Development, Biogen
Biogen plans to retain HI-Bio’s talent and establish a San Francisco Bay Area team focused on immune-mediated diseases. Besides Felzartamab, HI-Bio’s pipeline includes izastobart, an anti-C5aR1 antibody in Phase 1 trials, and discovery-stage mast cell programs. The firm also said that the transaction, totalling up to $1.8 billion, is expected to close in Q3 2024, pending regulatory approvals. Biogen will finance the acquisition with cash and potentially its revolving credit agreement.
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