Biogen has agreed to acquire RayThera for up to $1bn, consisting of an upfront payment and payments contingent on the achievement of future clinical and regulatory milestones.
RayThera is a private biotechnology company focused on discovering and developing small molecule therapies in immunology. Its portfolio includes multiple anti-inflammatory assets that could potentially treat immune-mediated conditions across a range of indications. The lead candidate is expected to enter phase 1 development in early Q3 2026.
Priya Singhal, Executive Vice President and Head of Development at Biogen, said: “With this acquisition, we are further deepening our pipeline in immunology by adding a suite of assets that can allow us to expand into new disease areas. We believe these assets can meaningfully contribute to our long-term pipeline potential and we’re excited about the opportunity to rapidly advance the first candidate into the clinic.”
Qing Dong, co-founder, Chairman and CEO of RayThera, commented: “With its strong global development capabilities in immunology, we believe that Biogen is the natural fit to move these assets forward into phase 1 development and beyond.”
Biogen will lead development, manufacturing and global commercialisation of the acquired assets.