Royalty Pharma Invests $250M in Biogen’s Late-Stage Lupus Treatment

Royalty Pharma has agreed to provide Biogen with up to $250 million in R&D funding for litifilimab, a potential first-in-class biologic for lupus treatment14.

The funding will be distributed over six quarters in exchange for regulatory milestones and mid-single digit royalties on worldwide sales14.

Litifilimab is currently in Phase 3 trials for both systemic lupus erythematosus (SLE) and cutaneous lupus erythematosus (CLE), with results expected between 2026 and 202712.

The drug has shown proof of concept and a generally well-tolerated safety profile in both SLE and CLE, with results published in the New England Journal of Medicine24.

SLE affects over 3 million patients worldwide, and litifilimab could potentially become the first targeted biologic specifically approved for CLE treatment24.

This deal comes as Biogen faces various business challenges, including a recent unsolicited takeover offer to Sage Therapeutics and employee layoffs1.

Biogen's Q4 2024 financial report showed modest growth, but the company forecasts a dip in 2025 revenues1.

Sources:

1. https://www.biospace.com/business/biogen-taps-royalty-pharma-for-250m-to-power-phase-iii-lupus-program

2. https://www.stocktitan.net/news/RPRX/royalty-pharma-announces-r-d-funding-collaboration-with-5znujmdfqx6b.html

4. https://www.royaltypharma.com/news/royalty-pharma-announces-rd-funding-collaboration-with-biogen/