Biogen To Acquire RayThera For Up To $1 Billion, Expanding Immunology Pipeline

Biogen agreed to acquire private biotechnology company RayThera for up to $1 billion to expand its immunology pipeline. The deal includes an upfront payment with the majority tied to future clinical and regulatory milestones, expected to close in Q3 2026. RayThera focuses on small-molecule therapies for immunological diseases with a lead candidate entering Phase 1 development in early Q3 2026.