08:11 AM EDT, 05/22/2024 (MT Newswires) -- Biogen (BIIB) has entered into a definitive agreement to acquire Human Immunology Biosciences for up to $1.8 billion, the companies said Wednesday.

Biogen will pay $1.15 billion upfront and up to $650 million in potential milestone payments to Human Immunology Biosciences, according to the companies.

The transaction, expected to close in Q3, includes felzartamab, a potential therapeutic candidate for a broad range of immune-mediated diseases, the companies said.

Biogen said it expects to finance the acquisition with cash and may also draw on its revolving credit facility.

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