WESTON (dpa-AFX) - Biogen Inc. (BIIB) and privately-held biotechnology
company Human Immunology Biosciences or HI-Bio, announced Wednesday the
companies have entered into a definitive agreement under which Biogen has agreed
to acquire HI-Bio for $1.15 billion upfront and up to $650 million in potential
milestone payments.

The proposed acquisition builds on Biogen capabilities in immunology with plans
to combine Human Immunology Biosciences' expertise in immune-mediated
indications with Biogen's global development and commercial experience in rare
diseases.

Biogen plans to leverage its existing global development and commercialization
capabilities in rare disease and its strong scientific expertise in immunology
to support the advancement of felzartamab and the HI-Bio pipeline.

The total potential deal value can go up to $1.8 billion, should the felzartamab
programs achieve certain development milestones.

In addition to lead program felzartamab, the HI-Bio pipeline includes
izastobart/HIB210, an anti-C5aR1 antibody currently in a Phase 1 trial.

Biogen seeks to retain expertise and talent from HI-Bio and establish a San
Francisco Bay Area team focused on expanding our efforts in immune-mediated
diseases.

Biogen expects to finance the acquisition with cash and may also draw on its
revolving credit agreement. The transaction is subject to customary closing
conditions, including receipt of necessary regulatory approvals and is currently
anticipated to close in the third quarter of 2024.

The acquisition of HI-Bio is not expected to impact Biogen's previously issued
2024 guidance.



Copyright(c) 2024 RTTNews.com. All Rights Reserved

Copyright RTT News/dpa-AFX