Biogen struck an $850 million agreement with TJ Biopharma to secure exclusive felzartamab rights in the Greater China region, including a $100 million upfront payment and additional milestone-linked consideration. The deal closes out a long-running licensing structure and consolidates worldwide development and commercialization responsibilities under Biogen. Felzartamab, an anti-CD38 monoclonal antibody, is being developed as a “pipeline-in-a-product” across immune-mediated indications, with earlier collaboration efforts tied to TJ Biopharma’s participation in Biogen-led Phase 3 programs for IgA nephropathy and primary membranous nephropathy. The transaction signals Biogen’s intent to tighten governance of a high-potential immunology asset as it expands into key growth markets.