Biogen to acquire RayThera in $1 billion deal
A lead small molecule candidate poised for Phase 1 development anchors the immunology pipeline Biogen gains in the transaction.
Takeaways
- RayThera is a small molecule drug discovery company focused on immunology.
- Biogen and RayThera are classified as a platform transaction.
- The target serves immunology across San Diego, CA.
Biogen will pay up to $1 billion in upfront cash and clinical and regulatory milestone payments to acquire RayThera Inc., a San Diego-based biotechnology company developing small molecule therapies for immune-mediated diseases.
The acquisition brings a pipeline of anti-inflammatory assets, led by a candidate expected to enter Phase 1 development in early Q3 2026.
“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,” said Qing Dong, co-founder, Chairman and CEO of RayThera.
Once the deal closes, Biogen will take over development, manufacturing, and global commercialization of the portfolio.
RayThera recently completed its Series A financing co-led by Foresite Capital and OrbiMed Advisors, with participation from TTM Capital.
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