Biogen's $1.8B Acquisition Strengthens Immunology Portfolio

On May 22nd, 2024, Biogen, a prominent biopharmaceutical firm, declared its acquisition of HumanImmunology Biosciences (HI-Bio) for an impressive sum of $1.8 billion. This strategic purchase is intended to bolster Biogen's presence in the expanding immunology sector.

Central to this acquisition is HI-Bio's leading investigational drug, felzartamab. Felzartamab is a CD38 antibody that has garnered both Breakthrough Therapy Designation (BTD) and Orphan Drug Designation (ODD) from the FDA for treating primary membranous nephropathy (PMN) and antibody-mediated rejection (AMR) in kidney transplant patients. The drug is currently undergoing phase I/II clinical trials.

Originally, felzartamab was developed by MorphoSys to treat multiple myeloma by selectively targeting and eliminating CD38-positive cells, which are integral to antibody-driven diseases. In November 2022, Teneobio acquired exclusive rights to develop and commercialize felzartamab outside of Greater China.

Beyond felzartamab, Biogen will also acquire HI-Bio's early-stage pipeline, which includes izastobart, an anti-C5aR1 antibody in phase I trials, and a mast cell program still in the exploratory phase.

Interestingly, this acquisition announcement came just days after Biogen decided to halt the development of two neurological pipeline candidates. The company ceased further development of the antisense oligonucleotide (ASO) drug BIIB105 (ION541) for amyotrophic lateral sclerosis (ALS) and opted not to pursue the development of BIIB121, another ASO drug aimed at restoring ubiquitin protein expression in Angelman syndrome patients.

This combination of acquisitions and pipeline adjustments highlights Biogen's strategic intent to enhance its immunology portfolio, particularly in the area of kidney diseases, which present substantial unmet medical needs. The introduction of felzartamab and other early-stage assets is designed to complement Biogen's current product lineup and reinforce its expertise in immunology.

As the biopharmaceutical industry continues to innovate and evolve, Biogen's $1.8 billion investment in HI-Bio signifies the company's dedication to diversifying its pipeline and establishing itself as a leader in pioneering immunotherapies.