Biogen trims Apellis pipeline programs months after US$5.6B acquisition

USA—Biogen has begun scaling back much of the research pipeline it acquired in its US$5.6 billion purchase of rare-disease specialist Apellis Pharmaceuticals, marking a major strategic shift just three months after the takeover.

The company has also eliminated a small number of research positions as it redirects resources toward its approved commercial products rather than early-stage research programmes.

Biogen narrows its research focus

Biogen has paused or discontinued funding for most of Apellis’ legacy research portfolio while conducting a comprehensive review of the acquired company’s clinical and preclinical assets.

Although the company has not disclosed the full list of affected programmes, updates posted on ClinicalTrials.gov show that several ongoing studies have already been suspended.

One of the affected studies is a Phase II trial evaluating Empaveli (pegcetacoplan) for delayed graft function (DGF) following kidney transplantation.

The trial is now listed as suspended while Biogen conducts what it describes as an ongoing strategic review of the programme.

Another suspended Phase II study involves Empaveli in focal segmental glomerulosclerosis (FSGS), a rare kidney disease.

In addition to the strategic review, the clinical trial listing also cites recruitment difficulties and screening failures as contributing factors behind the suspension.

The company has not clarified whether Apellis’ preclinical pipeline, which includes an undisclosed RNA-based therapy, an oral complement inhibitor, and two gene-edited programmes, will continue to be developed or be discontinued as part of the review.

Approved medicines remain the priority

While reducing investment in several research programmes, Biogen continues to support studies that could expand pegcetacoplan’s commercial potential.

A Phase II trial investigating Syfovre (pegcetacoplan) in combination with APL-3007, an RNA interference therapy targeting complement C3 expression, remains open for recruitment.

Researchers are evaluating the combination as a potential treatment for geographic atrophy, an advanced form of age-related macular degeneration that can lead to irreversible vision loss.

The company’s latest decisions indicate that Biogen is concentrating on maximising the value of its approved medicines.

Pegcetacoplan is marketed as Empaveli for several rare diseases and as Syfovre for geographic atrophy.

Together, the two medicines generated approximately US$689 million in revenue during 2025 and are expected to continue delivering steady growth over the coming years.

Acquisition strategy continues

Biogen announced its agreement to acquire Apellis in March, with the transaction valued at US$5.6 billion.

At the time, investors reacted cautiously, sending Biogen’s share price lower amid concerns over the acquisition premium.

Nevertheless, analysts projected that the deal could strengthen the company’s long-term revenue by adding established rare disease and ophthalmology products while helping offset declining sales from its multiple sclerosis portfolio.

The restructuring comes as Biogen continues reshaping its broader business.

Last week, the company also announced plans to acquire immunology-focused biotechnology company RayThera in a deal worth up to US$1 billion.

The acquisition will add multiple anti-inflammatory drug candidates to Biogen’s pipeline, including a leading program expected to begin Phase I clinical trials in Q3 2026.

This move will further broaden the company’s immunology portfolio as it diversifies beyond its core neurology focus.