Biogen Completes Spin-Off of Hemophilia Business Bioverativ
Biogen has completed the separation of its global hemophilia business into a spin-out company, Bioverativ, which now stands as an independent, publicly traded biotechnology company focused on hemophilia and other rare blood disorders.
Biogen’s board of directors approved the separation of Biogen and Bioverativ in December 2016 and declared a special dividend distribution of one share of Bioverativ common stock for every two shares of Biogen common stock held as of the close of business on January 17, 2017, the record date for the distribution.
Biogen announced its plans to spin off its hemophilia business in May 2016. Bioverativ will continue commercialization of Eloctate (antihemophilic factor [recombinant], Fc fusion protein) and Alprolix (coagulation factor IX [recombinant], Fc fusion protein), indicated for treating hemophilia A and B, respectively, under Biogen’s existing collaboration agreement with Swedish Orphan Biovitrum AB (Sobi). Post spin-off, Bioverativ expects to continue development of Eloctate and Alprolix, including conducting studies to explore the potential benefits of Fc fusion technology on long-term joint health, immunogenicity, and immune-tolerance induction in hemophilia patients who develop inhibitors.
The executive management team of Bioverativ comprises John Cox as chief executive officer, Rogerio Vivaldi, MD, as executive vice president and chief global therapeutic operations officer, and John Greene as executive vice president and chief financial officer.