Biogen (NASDAQ:BIIB) announced today that it has entered into a definitive agreement to acquire the exclusive Greater China rights for felzartamab from TJ Biopharma.
The transaction effectively consolidates the worldwide development and commercialization of the CD38-directed monoclonal antibody under Biogen’s sole ownership, streamlining its global regulatory and market-access strategy.
The deal structure includes a $100 million upfront payment and potential commercial milestones reaching up to $750 million, bringing the total possible consideration to $850 million.
Additionally, TJ Biopharma is eligible to receive royalties ranging from the mid-single digits to the low-double digits on net sales within the region.
Biogen confirmed it will record the upfront payment as an Acquired In-Process R&D (IPR&D) expense in the second quarter of 2026.
By regaining the China rights, Biogen removes the geographic fragmentation of the asset's development.
Felzartamab is currently being evaluated in global Phase 3 studies, with a primary focus on immune-mediated rare kidney diseases such as IgA nephropathy and antibody-mediated rejection.
In the Greater China region, a Biologics License Application (BLA) for felzartamab in the treatment of multiple myeloma was submitted in December 2024 and remains under active review by regulatory authorities.
As part of this new agreement, Biogen will also assume all prior milestone and royalty obligations originally established under the licensing agreement with MorphoSys.