Biogen acquired Apellis Pharmaceuticals for $5.6 billion, with the deal expected to close in Q2 20263
The acquisition includes two FDA-approved immunology medicines:
Empaveli (approved for rare kidney diseases C3G and primary IC-MPGN, plus PNH) and Syfovre (approved for geographic atrophy)5
Biogen's previous growth projections showed flat growth through the 2030s, but the late-stage pipeline and Apellis acquisition have changed this outlook1
CEO Chris Viehbacher stated the company will now focus on filling its 'quite thin' early-stage pipeline with research-stage projects and pre-IND or Phase 1 assets1
Apellis brings established nephrology expertise and sales infrastructure that will accelerate Biogen's felzartamab launch, currently in Phase 3 studies with first trial readout expected in H1 20275
Biogen has bolstered its early pipeline through licensing collaborations in immunology with Vanqua Bio and Dayra Therapeutics, plus a $46 million deal with City Therapeutics for RNAi-based CNS therapies1
Despite the $5.6 billion Apellis deal, Biogen's CFO Robin Kramer confirmed the company still has capacity for strategic acquisitions in early-stage areas and expects optimal debt leverage ratios by end of 20272
Sources:
1. https://www.biospace.com/business/with-growth-curve-trending-up-biogen-looks-for-early-stage-assets-for-next-generation
2. https://www.biopharmadive.com/news/Biogen-kramer-cfo-deal-acquisition-apellis-early-assets-immunology-rare-neuroscience/816378/
3. https://www.newenglandcouncil.com/news-article/biogen-acquires-waltham-based-apellis-pharmaceuticals-for-5-6-billion-2/
5. https://investors.apellis.com/news-releases/news-release-details/biogen-acquire-apellis-enhancing-companys-growth-portfolio