Biogen to Acquire RayThera for Up to $1 Billion

Biogen Inc. announced a definitive agreement to acquire RayThera Inc., a private biotechnology company focused on immunology, for up to $1 billion. The deal comprises an upfront payment and predominantly payments contingent on future clinical and regulatory milestones. This acquisition is set to deepen Biogen's immunology pipeline and expand into new disease areas, with RayThera's lead candidate expected to enter Phase 1 development in early Q3 2026. The transaction is subject to customary closing conditions and is anticipated to close in the third quarter of 2026.