Health
Biogen to Pay Up to $1.8 Billion for Immune Drug Developer
- Human Immunology is developing treatment for kidney conditions
- Biogen diversifies pipeline to rely less on Alzheimer’s drug
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Biogen Inc. agreed to acquire Human Immunology Biosciences Inc. for as much as $1.8 billion in a deal aimed at bolstering the biotechnology giant’s pipeline of immune disease treatments.
Biogen will pay $1.15 billion upfront for the privately held company and as much $650 million in potential payments for reaching business goals, according to a statement from the companies Wednesday. The deal will bring Biogen felzartamab, an experimental treatment that’s been tested clinically in some rare immune conditions.