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.
Under the agreement, Biogen will integrate RayThera’s portfolio of anti-inflammatory and immune-modulating candidates into its broader research and development engine.
The regulatory decision follows results from a Phase Ib study presented at the 2026 Muscular Dystrophy Association Clinical and Scientific Conference and the 2026 International Scientific Congress on SMA Europe.
Biogen now holds worldwide rights to the investigational therapy, felzartamab, which is currently undergoing Phase 3 clinical trials for several immune-mediated diseases.
The acquisition grants Biogen access to two already-marketed medications that generated USD689 million in sales last year.
The acquisition centers on Alcyone’s innovative ThecaFlex DRx drug delivery system, an experimental implantable device that represents a significant advancement in treating neurological disorders.