Biogen consolidated full global rights to felzartamab through an $850 million deal with TJ Biopharma, closing the chapter on a multi-year licensing framework. The arrangement follows Biogen’s acquisition of rights in stages and consolidates development and commercialization control under one owner. Felzartamab is a CD38-directed monoclonal antibody that was originally developed for cancer indications such as multiple myeloma before expansion into immune-mediated disease areas. Biogen’s next steps will likely focus on advancing late-stage clinical programs and optimizing development strategy under unified control. For investors and partners, the agreement signals continued value placed on immune antibodies that can cross into multiple disease categories depending on emerging clinical response patterns.