Biogen to Pay Up to $1.8 Billion for Immune Drug Developer (2)

Biogen Inc. agreed to acquire Human Immunology Biosciences Inc. for as much as $1.8 billion in a deal aimed at bolstering the biotechnology giant’s pipeline of immune disease treatments.

Biogen will pay $1.15 billion upfront for the privately held company and as much $650 million in potential payments for reaching business goals, according to a statement from the companies Wednesday. The deal will bring Biogen felzartamab, an experimental treatment that’s been tested clinically in some rare immune conditions.

Biogen Chief Executive Officer Chris Viehbacher has been searching for smaller deals as sales of its mainstay multiple sclerosis medications decline and ...