(Reuters) -Biogen said on Wednesday it had agreed to buy privately held Human Immunology Biosciences for up to $1.8 billion, bulking up on rare disease medicines as its older multiple sclerosis drugs face tepid demand due to rising competition.
Human Immunology’s (HI-Bio) felzartamab has completed mid-stage studies for a type of kidney disease called primary membranous nephropathy, and in patients with a disease where the immune system makes antibodies that damage their transplanted organ.
The San Francisco-based company is also testing the therapy in patients with another chronic kidney disease known as IgA nephropathy. The therapy developer plans to conduct late-stage trials.
Since Christopher Viehbacher took the helm in late 2022, Biogen has acquired rare disease drugmaker Reata for $6.5 billion, abandoned its controversial Alzheimer’s disease drug Aduhelm and cut jobs.
The company is now counting on newer medicines such as a second approved Alzheimer’s drug Leqembi, developed with Japanese partner Eisai, as well as Reata’s Skyclarys to help drive growth.
The deal consists of $1.15 billion in upfront and up to $650 million in potential payments if felzartamab achieves certain development milestones.
The Biogen Rare Diseases Deal also reflects a shift in the pharmaceutical landscape towards personalized medicine and precision healthcare. As advancements in genetics and biotechnology continue to accelerate, there is a growing recognition of the importance of tailoring treatments to individual patients’ unique genetic profiles.
Biogen’s investment in rare disease therapies aligns with this paradigm shift, emphasizing the need for targeted interventions that address the underlying causes of specific medical conditions.
By leveraging cutting-edge research and innovative technologies, Biogen aims to develop tailored therapies that offer hope to patients with rare diseases, ushering in a new era of precision medicine and personalized care.
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