Pharma BD Deal Intelligence

Biogen Inc. / Dayra Therapeutics, Inc.

2025 · Co-Development · Complete

Biogen and Dayra Therapeutics announced a research collaboration to discover and develop oral macrocyclic peptides against priority targets in immunological conditions. Dayra, launched by Versant Ventures with this foundational Biogen partnership, receives USD 50 million upfront and is eligible for preclinical and clinical development milestones per program; Biogen holds an option to acquire the resulting development candidates for an additional payment per program.

This deal is too recent to grade. Critic Score and Outcome Score are assigned after the announcement-week coverage settles and, for Outcome, after the 5-year post-close assessment window opens — expected 2030 at the earliest for this deal, once/if it closes.

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