Biogen cuts Apellis research programs after $5.6 bn acquisition

Biogen announced it has paused or discontinued funding for most of Apellis Pharmaceuticals' research programs as it integrates the rare‑disease drugmaker it bought for $5.6 billion. The U.S. company also trimmed a small number of roles in the research organization, redirecting resources toward the approved therapies acquired in the deal, Empaveli and Syfovre.

Biogen has suspended two clinical trials of Empaveli that were evaluating the drug in separate kidney‑related conditions. The Apellis acquisition is Biogen's largest since its 2023 purchase of Reata Pharmaceuticals and is intended to offset slowing demand for its multiple‑sclerosis franchise and weaker sales of its Alzheimer’s drug Leqembi. Empaveli and Syfovre together generated about $689 million in revenue last year and are projected to grow at mid‑to‑high‑teens rates through at least 2028.