(Reuters) -Biogen said on Wednesday it had agreed to buy privately held Human Immunology Biosciences for up to $1.8 billion, gaining access to targeted therapies for patients with severe immune-related diseases.
The deal consists of $1.15 billion in upfront and up to $650 million in potential milestone payments if Human Immunology’s lead product felzartamab, a monoclonal antibody, achieves certain development milestones.
The purchase comes as Biogen’s pushes to move beyond treatments for neurological disorders and boost its portfolio of rare disease drugs.
The companies expect to close the deal in the third quarter.
(Reporting by Manas Mishra and Sriparna Roy in Bengaluru; Editing by Sriraj Kalluvila)
