Group 1 - Biogen (BIIB) has signed a research collaboration agreement with Dayra Therapeutics to discover and develop oral macrocyclic peptides targeting immunological conditions [1][6] - The collaboration aims to leverage the strategic potential of oral macrocyclic peptides, which can provide biologic-like efficacy and safety in a more convenient oral form, enhancing patient adherence [2][4] - Biogen will pay an upfront fee of $50 million to Dayra and may also make milestone payments as it develops its immunology pipeline [6][8] Group 2 - The partnership will utilize Dayra's advanced macrocycle discovery platform to identify, validate, and optimize oral macrocyclic candidates against key immunological targets, with Biogen responsible for late-stage development and commercialization [4][6] - Biogen's existing immunology pipeline includes three late-stage candidates: dapirolizumab pegol, litifilimab, and felzartamab, which are in various phases of development for different indications [10][11]