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BIIB Inks Deal to Acquire Rights to Felzartamab in China, Stock Up
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Key Takeaways
Biogen will pay $100M upfront to gain TJ Bio's rights to felzartamab in the Greater China region.
TJ Bio will also earn up to $750M in milestones plus royalties from BIIB on Greater China net sales.
BIIB now holds worldwide rights to felzartamab as phase III studies continue in immune-mediated diseases.
Biogen (BIIB - Free Report) announced that it has entered into a definitive agreement with TJ Biopharma, under which it will acquire TJ Bio’s exclusive rights to felzartamab in the Greater China region.
With this deal, Biogen will hold exclusive worldwide rights to felzartamab, which is currently being evaluated in phase III studies for multiple immune-mediated diseases.
Shares of Biogen were up 3.4% yesterday following the announcement of the news.
Year to date, the stock has risen 4.2% compared with the industry’s increase of 3.5%.
Image Source: Zacks Investment Research
More on BIIB’s Latest Deal With TJ Bio
Per the deal, Biogen will make an upfront payment of $100 million to TJ Bio while the latter will also be eligible to receive up to $750 million in potential commercial and sales milestone payments, bringing the total potential deal value to $850 million.
TJ Bio will also be eligible to receive mid-single-digit to low-double-digit percentage of royalties on potential net sales of the product in the Greater China region.
The upfront payment is expected to be recorded by Biogen as an acquired in-process research and development expense in the second quarter of 2026. With the deal, Biogen will also assume responsibility for milestone payments and royalty obligations under the prior licensing agreement with MorphoSys, a wholly owned subsidiary of Novartis (NVS - Free Report) .
We remind investors that felzartamab was added to Biogen’s pipeline with the acquisition of Human Immunology Biosciences (HI-Bio) in 2024. The candidate was originally developed by MorphoSys AG (acquired by Novartis), which out-licensed exclusive rights to develop and commercialize felzartamab to HI-Bio across all indications in all countries and territories, excluding China and certain other geographies.
Felzartamab, an anti-CD38 antibody, is undergoing phase III evaluation for three indications — antibody-mediated rejection in kidney transplant recipients, immunoglobulin A nephropathy (IgAN) and primary membranous nephropathy (PMN) — all in separate studies. The company also plans to expand into other indications.
A biologics license application (BLA) seeking approval for felzartamab for the treatment of multiple myeloma is currently under review by China’s National Medical Products Administration. The BLA was filed by TJ Bio in December 2024.
BIIB's Other Immunology Pipeline Programs
Biogen’s immunology pipeline comprises two other late-stage candidates, dapirolizumab pegol and litifilimab, which are being developed across various indications.
Dapirolizumab pegol, an anti-CD40L antibody, is currently in phase III development for treating active systemic lupus erythematosus (SLE).
Biogen is evaluating the efficacy and safety of litifilimab in a phase III study for treating patients with cutaneous lupus erythematosus (CLE). The company is also evaluating litifilimab in two separate late-stage studies for the potential treatment of SLE.
Over the past 60 days, estimates for Agenus’ 2026 earnings per share have risen from 54 cents to $1.30, while loss per share estimates for 2027 have narrowed from $1.91 to $1.52 during the same time. AGEN shares have soared 40.7% year to date.
Agenus’ earnings beat estimates in two of the trailing four quarters, while missing the same on the remaining two occasions, with the average surprise being 31.42%.
Over the past 60 days, Amarin's loss per share estimates for 2026 have narrowed from $7.32 to $6.36, while the same for 2027 have narrowed from $5.97 to $4.64 during the same time. AMRN stock has risen 4.7% year to date.
Amarin's earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 51.29%.
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BIIB Inks Deal to Acquire Rights to Felzartamab in China, Stock Up
Key Takeaways
Biogen (BIIB - Free Report) announced that it has entered into a definitive agreement with TJ Biopharma, under which it will acquire TJ Bio’s exclusive rights to felzartamab in the Greater China region.
With this deal, Biogen will hold exclusive worldwide rights to felzartamab, which is currently being evaluated in phase III studies for multiple immune-mediated diseases.
Shares of Biogen were up 3.4% yesterday following the announcement of the news.
Year to date, the stock has risen 4.2% compared with the industry’s increase of 3.5%.
Image Source: Zacks Investment Research
More on BIIB’s Latest Deal With TJ Bio
Per the deal, Biogen will make an upfront payment of $100 million to TJ Bio while the latter will also be eligible to receive up to $750 million in potential commercial and sales milestone payments, bringing the total potential deal value to $850 million.
TJ Bio will also be eligible to receive mid-single-digit to low-double-digit percentage of royalties on potential net sales of the product in the Greater China region.
The upfront payment is expected to be recorded by Biogen as an acquired in-process research and development expense in the second quarter of 2026. With the deal, Biogen will also assume responsibility for milestone payments and royalty obligations under the prior licensing agreement with MorphoSys, a wholly owned subsidiary of Novartis (NVS - Free Report) .
We remind investors that felzartamab was added to Biogen’s pipeline with the acquisition of Human Immunology Biosciences (HI-Bio) in 2024. The candidate was originally developed by MorphoSys AG (acquired by Novartis), which out-licensed exclusive rights to develop and commercialize felzartamab to HI-Bio across all indications in all countries and territories, excluding China and certain other geographies.
Felzartamab, an anti-CD38 antibody, is undergoing phase III evaluation for three indications — antibody-mediated rejection in kidney transplant recipients, immunoglobulin A nephropathy (IgAN) and primary membranous nephropathy (PMN) — all in separate studies. The company also plans to expand into other indications.
A biologics license application (BLA) seeking approval for felzartamab for the treatment of multiple myeloma is currently under review by China’s National Medical Products Administration. The BLA was filed by TJ Bio in December 2024.
BIIB's Other Immunology Pipeline Programs
Biogen’s immunology pipeline comprises two other late-stage candidates, dapirolizumab pegol and litifilimab, which are being developed across various indications.
Dapirolizumab pegol, an anti-CD40L antibody, is currently in phase III development for treating active systemic lupus erythematosus (SLE).
Biogen is evaluating the efficacy and safety of litifilimab in a phase III study for treating patients with cutaneous lupus erythematosus (CLE). The company is also evaluating litifilimab in two separate late-stage studies for the potential treatment of SLE.
Biogen Inc. Price
Biogen Inc. price | Biogen Inc. Quote
BIIB's Zacks Rank & Other Stocks to Consider
Biogen currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the biotech sector are Agenus (AGEN - Free Report) and Amarin (AMRN - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) presently. You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, estimates for Agenus’ 2026 earnings per share have risen from 54 cents to $1.30, while loss per share estimates for 2027 have narrowed from $1.91 to $1.52 during the same time. AGEN shares have soared 40.7% year to date.
Agenus’ earnings beat estimates in two of the trailing four quarters, while missing the same on the remaining two occasions, with the average surprise being 31.42%.
Over the past 60 days, Amarin's loss per share estimates for 2026 have narrowed from $7.32 to $6.36, while the same for 2027 have narrowed from $5.97 to $4.64 during the same time. AMRN stock has risen 4.7% year to date.
Amarin's earnings beat estimates in three of the trailing four quarters, while missing the same on the remaining occasion, with the average surprise being 51.29%.