Days after backing out of two Ionis-partnered neuro programs, Biogen has inked a potential $1.8 billion buy of Human Immunology Biosciences and boosting its late-stage immunology pipeline.
Biogen announced on Wednesday that it is expanding its presence in the immunology space through a potential $1.8 billion deal to buy privately held biotech Human Immunology Biosciences, also known as HI-Bio.
Under the terms of the agreement, Biogen will pay $1.15 billion upfront and pledge up to $650 million in potential milestone payments. The companies expect to complete the transaction in the third quarter of 2024, pending antitrust clearances and other customary closing conditions.
At the center of Wednesday’s acquisition is HI-Bio’s lead candidate felzartamab, which the biotech is developing as a treatment for IgA nephropathy (IgAN) and primary membranous nephropathy (PMN), as well as antibody-mediated rejection (AMR) in kidney transplant recipients.
Originally developed by MorphoSys for multiple myeloma, felzartamab is a monoclonal antibody that works by targeting the CD38 protein found on mature plasma cells. This mechanism of action allows felzartamab to selectively deplete CD38-positive cells, which play a crucial role in diseases driven by pathologic antibodies.
HI-Bio gained the exclusive license to felzartamab when it launched in November 2022, allowing it to develop and commercialize the asset in all countries and territories excluding the greater China region.
Priya Singhal, head of development at Biogen, said in a statement that felzartamab would be a “strategic addition” to the pharma’s portfolio, particularly as it continues to “augment our pipeline and build on our expertise in immunology.” Felzartamab has shown strong impact on “key biomarkers and clinical endpoints in three renal diseases with serious unmet needs,” according to Singhal.
HI-Bio has completed Phase II studies for felzartamab in AMR and PMN, while a Phase II study is currently ongoing in IgAN. The biotech has plans to push all three programs to Phase III. Felzartamab is also being developed for lupus nephritis, with an ongoing Phase I study.
In addition to felzartamab, Wednesday’s acquisition provides Biogen with access to HI-Bio’s earlier-stage candidates including the anti-C5aR1 antibody izastobart, which is in a Phase I study for an undisclosed indication, as well as a mast cell program that is currently in the discovery phase.
The HI-Bio acquisition comes days after Biogen backed out of two Ionis-partnered neuro programs. Last week, the company announced that it would drop the development of BIIB105 in amyotrophic lateral sclerosis following disappointing Phase I/II data. Biogen also elected to not exercise its option to license and develop BIIB121 for Angelman syndrome.
Tristan Manalac is an independent science writer based in Metro Manila, Philippines. Reach out to him on LinkedIn or email him at tristan@tristanmanalac.com or tristan.manalac@biospace.com.
