Biogen announces an agreement to acquire Human Immunology Biosciences (HI-Bio), an unlisted clinical-stage biotechnology company focused on targeted therapies for patients with severe immune-mediated diseases (IMDs).

The transaction will include felzartamab, a promising potential therapeutic candidate in a range of IMDs, which has demonstrated clinical proof-of-concept in rare indications and is due to enter Phase III development.

Biogen will make an upfront payment of $1.15 billion, plus potential milestone payments of up to $650 million. Subject to customary conditions and approvals, the transaction is expected to close in the third quarter of 2024.

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