After Biogen announced plans to acquire Human Immunology Biosciences, or “HI-Bio,” for $1.1B, along with up to $650M in potential milestone payments, Stifel said the deal fits into Biogen’s stated strategic priorities in building out their immunology pipeline and “makes sense.” With the deal, Biogen gets a phase 3-ready asset, felzartamab, in two rarer immune-mediated indications, while a phase 2 study in IgAN is underway, notes the firm, which adds that “IgAN is probably the most compelling opportunity here.” The firm maintains a Buy rating on Biogen shares.
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