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Market reaction to Biogen's acquisition of HI-Bio one week post-announcement
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Biogen (Nasdaq: $BIIB) to Acquire HI-Bio for $1.15 Billion Upfront and $650 Million in Milestones
May 22, 2024, 11:39 AM
Biogen Inc. (Nasdaq: $BIIB) announced on Wednesday that it has agreed to acquire privately held Human Immunology Biosciences (HI-Bio) for $1.15 billion upfront and up to $650 million in potential milestone payments. The acquisition aims to bolster Biogen's late-stage pipeline and expand its immunology portfolio. HI-Bio is a clinical-stage biotechnology company focused on targeted therapies, including Felzartamab, a Phase 3 CD38 antibody for immunosuppression and other immune-related diseases.
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