Biogen consolidated felzartamab rights with an $850 million deal with TJ Biopharma, closing the loop on a multi-year license arrangement and expanding the company’s control of the CD38-directed antibody across Greater China. The transaction includes a $100 million upfront payment plus milestone-based consideration, with royalties continuing for TJ Biopharma. Separately, Eli Lilly agreed to acquire Kelonia in a deal valued at up to $7 billion, positioning Lilly to expand its in vivo CAR T ambitions. Kelonia’s technology is designed to reprogram a patient’s T cells inside the body using an intravenously delivered therapy, potentially reducing complexity versus ex vivo workflows. Both deals reflect active portfolio reshaping—one focused on consolidating a global development asset in immunology, the other on acquiring platform capability to scale cell therapy delivery and broaden hematology reach.