Biogen secures global rights to felzartamab in US850M deal with TJ Biopharma

CHINA—Biogen Inc. has entered into a definitive agreement with TJ Biopharma to acquire the latter’s exclusive rights to felzartamab in the Greater China Region.

As a result, Biogen now holds worldwide rights to the investigational therapy, which is currently undergoing Phase 3 clinical trials for several immune-mediated diseases.

Under the terms of the agreement, TJ Biopharma will receive an upfront payment of US$100 million.

In addition, the company is eligible for up to USD 750 million in commercial and sales milestone payments, bringing the total potential deal value to USD 850 million.

TJ Biopharma will also earn royalties ranging from mid-single-digit to low-double-digit percentages on net sales in the Greater China region.

Biogen expects to record the upfront payment as an acquired in-process research and development expense in the second quarter of 2026.

Furthermore, the company will assume all milestone and royalty obligations tied to the prior licensing agreement with MorphoSys, a subsidiary of Novartis.

Advancing clinical development

Biogen strengthened its position in felzartamab in July 2024 by acquiring global rights, excluding Greater China, through its purchase of HI-Bio.

Since then, the company has initiated Phase 3 trials targeting antibody-mediated rejection in kidney transplant recipients, as well as IgA nephropathy and primary membranous nephropathy.

It also plans to expand development into additional indications.

Building on this collaboration, TJ Biopharma joined two Biogen-sponsored international multi-center Phase 3 trials in April 2025.

These studies focus on IgA nephropathy and primary membranous nephropathy in China, where both conditions represent significant health burdens.

IgA nephropathy remains the most common form of primary glomerulonephritis and a leading cause of end-stage kidney disease among young adults in the country.

Meanwhile, primary membranous nephropathy has become a major cause of adult nephrotic syndrome, with rising incidence and a high risk of progression to advanced kidney disease.

Leadership perspectives and market focus

Fraser Hall, President of Biogen’s Intercontinental Region, emphasized that the agreement strengthens the company’s global strategy for felzartamab.

He noted that the therapy has the potential to address multiple immune-mediated conditions and expand Biogen’s development portfolio in a critical market.

He also highlighted the company’s commitment to advancing Phase 3 studies and bringing innovative treatments to patients across Greater China.

Similarly, Dr. Lili Qian, General Manager of TJ Biopharma, stated that the partnership reinforces confidence in Biogen’s commercial and development capabilities.

She added that the transaction supports TJ Biopharma’s strategic focus while enabling continued investment in its pipeline.

Regulatory and manufacturing plans

A Biologics License Application for felzartamab in multiple myeloma, submitted by TJ Biopharma in December 2024, is currently under review by China’s National Medical Products Administration.

Under the agreement, Biogen will oversee development, manufacturing, and commercialization in the region.

However, TJ Biopharma will continue to manufacture the therapy for multiple myeloma at its Hangzhou GMP facility.