News summary
Biojian invests US$1.8 billion to acquire IMD-focused therapiesbuyfreespinsHI-Bio, whose lead drug, felzartamab, is in phase 3 trials targeting PMN and AMR.
Newsletter text
Biojian reaches a US$1.8 billion acquisition agreement to enter the field of immune-mediated diseases
Biojian announced on May 22buyfreespinsIn a major deal, it agreed to acquire Human Immunology Biosciences (HI-Bio), a private drug developer focusing on research on severe immune-mediated diseases, for $1.8 billion. The purpose of the acquisition is to take advantage of HI-Bio's research drug felzartamab, which has entered Phase 3 clinical trials for the treatment of primary membranous nephropathy and antibody-mediated rejection.
Baijian's acquisition will further enhance its research and development capabilities in the field of immune-mediated disease treatment. Felzartamab is a promising human monoclonal antibody drug that is currently undergoing critical clinical trials and is expected to bring huge market potential to Biojian.
This landmark transaction demonstrates Biojian's continued investment in innovative drug research and development and its confidence in the immune disease treatment market. With the completion of the transaction, Biojian will further consolidate its leading position in the pharmaceutical industry.