Biogen and Dayra Therapeutics Announce Research Collaboration to Discover and Develop Oral Macrocyclic Peptides for a Range of Immunological Conditions

Core Insights - Biogen Inc. and Dayra Therapeutics have announced a research collaboration focused on developing oral macrocyclic peptides for immunological conditions, aiming to disrupt traditional antibody-based treatments [1][2][8] - The collaboration is expected to enhance Biogen's immunology portfolio by incorporating a new class of therapeutics that can be administered orally while maintaining biologic-like efficacy and safety [2][8] Company Overview - Biogen, founded in 1978, is a leading biotechnology company dedicated to innovative science and the development of new medicines to improve patient lives and create shareholder value [4] - Dayra Therapeutics, established in 2024, specializes in oral macrocyclic peptide therapeutics, utilizing a discovery platform that combines computational design and modeling to target disease-relevant proteins [6] Financial Terms - Under the collaboration agreement, Dayra Therapeutics will receive a $50 million upfront payment from Biogen, which will be recorded as an Acquired In-Process Research and Development expense in Q4 2025 [3] - Biogen has the option to acquire development candidates from Dayra for additional payments per program, along with potential preclinical and clinical milestone payments [3]