TJ Biopharma acquires Biogen's Greater China felzartamab rights

CAMBRIDGE, Mass. and HANGZHOU, China, April 20, 2026 /PRNewswire/ -- Biogen Inc. (Nasdaq: BIIB) and TJ Biopharma ("TJ Bio") today announced that the companies have entered into a definitive agreement under which Biogen has agreed to acquire TJ Bio's exclusive rights to felzartamab in the Greater China Region. With this agreement, Biogen now owns exclusive worldwide rights to felzartamab, which is currently being evaluated in global Phase 3 clinical studies across multiple immune-mediated diseases.

Under the terms of the agreement, TJ Bio will receive a $100 million upfront payment and is eligible to receive up to $750 million in potential commercial and sales milestone payments, for a total potential consideration of up to $850 million, plus mid-single-digit to low-double-digit percentage of royalties on potential net sales 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 this transaction, Biogen will assume responsibilities for milestone payment and royalty obligations under the prior MorphoSys (a wholly-owned subsidiary of Novartis) licensing agreement.

"This deal is important to Biogen as it further expands the global opportunity for felzartamab, a potential pipeline-in-a-product with broad applicability across a range of immune-mediated conditions," said Fraser Hall, President of Biogen's Intercontinental Region. "We are pleased to reach this agreement with TJ Bio to grow our development portfolio in this key market. We look forward to continuing to evaluate felzartamab in Phase 3 studies and the opportunity to bring this potentially differentiated treatment to patients in the Greater China Region."

Biogen acquired the worldwide rights (excluding the Greater China Region) to felzartamab through the acquisition of HI-Bio in July 2024 and has since initiated global Phase 3 trials in antibody-mediated rejection (AMR) in kidney transplant recipients, IgA nephropathy (IgAN) and primary membranous nephropathy (PMN) with planned expansions into other indications.

The agreement builds on the productive collaboration between the two companies. In April 2025, TJ Bio joined two Biogen-sponsored Phase 3 International Multi-Center Trials (IMCT) evaluating felzartamab in IgAN and PMN in China. IgAN is the most common form of primary glomerulonephritis and a leading cause of end-stage kidney disease (ESKD) in young adults in China¹. PMN has emerged as a leading cause of adult nephrotic syndrome in China, characterized by a rapidly increasing incidence and a significant risk of progression to ESKD². China is believed to have one of the largest patient populations globally for both IgAN and PMN, underscoring the importance of advancing innovative treatment options in this market.

"With Biogen's strong global capabilities and a proven track record of commercial success in the region, we are confident that they are the right partner to progress felzartamab in this important market," said Dr. Lili Qian, General Manager of TJ Biopharma. "This transaction sharpens our strategic focus and validates our 'fast-to-market' and 'tiered value realization' business models. It generates near- and long-term value for TJ Bio, supporting continued investment in our differentiated pipeline while enabling us to participate in the future success of felzartamab in China."

Biogen will continue to lead development of the immunology indications and will now also lead manufacturing and commercial efforts for felzartamab in the Greater China Region. A Biologics License Application (BLA) for felzartamab for the treatment of multiple myeloma, submitted by TJ Bio in December 2024, is currently under review by China's National Medical Products Administration. Biogen will lead post-approval efforts in the region as part of the agreement. For the multiple myeloma indication, TJ Bio will serve as the manufacturer for felzartamab at its Hangzhou GMP facility.