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Form 8-K · Current Report · Filed 2026-03-31

Biogen Announces Agreement to Merge with Apellis Pharmaceuticals

On March 31, 2026, Biogen Inc. announced an agreement to merge with Apellis Pharmaceuticals, Inc. The merger involves a tender offer for Apellis's common stock at $41.00 per share in cash, plus one contingent value right per share, which entitles the holder to potential payments of up to an aggregate of $4.00 upon the achievement of certain sales milestones. The merger is supported by certain stockholders, including Morningside Venture Investments, Ltd., who hold approximately 14% of Apellis's outstanding shares. The merger is expected to be completed through a short-form merger under Delaware law, with no stockholder vote required.

Filer
Biogen Inc. BIIB · NASDAQ
Filed
Accession
0001193125-26-134889
CIK
0000875045
Signal
High impactHealthcare

Items reported

Item events

Reported Item

M&A Transaction Term Loan Entered Strategic Partnership

Market reaction

Close before filing

$187.57

Next session

-2.0%

Since filing

+8.2%

Latest close

$202.95

What happened, not what will happen — closing prices around the filing date.

Precedent

Previous filings from BIIB reporting the same item, with the next session's move:

About Biogen Inc.

Biogen Inc. is a globally recognized biotechnology company committed to discovering, developing, and delivering innovative therapies for neurological diseases. With a focus on serious medical conditions, Biogen creates therapies aimed at treating conditions like multiple sclerosis, Alzheimer's disease, and spinal muscular atrophy. The company invests heavily in research and development to pioneer treatments that improve patients' quality of life and addresses critical unmet medical needs. Biogen's influence spans various therapeutic areas in the healthcare sector, making notable strides in both neurodegenerative and rare diseases. The company's portfolio includes a range of biologics, gene therapy, and small molecule drugs, highlighting its strategic diversity. As a prominent player within the biopharmaceutical industry, Biogen collaborates with academic institutions, research organizations, and other biotech firms to enhance its research pipeline and bring new solutions to market. Biogen's role in the financial markets is underscored by its contributions to healthcare innovation and its impact on global health outcomes. Headquartered in Cambridge, Massachusetts, Biogen continues to leverage its scientific expertise and industry alliances to remain at the forefront of biotechnology, influencing both investors and the broader medical community.

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