Biogen has struck a deal with a new biotechnology company launched by Versant Ventures, for the research and development of experimental drugs for immune conditions.
The deal includes a $50 million upfront payment to Dayra Therapeutics to “identify, validate and optimise oral macrocycle candidates for high-priority immunological targets.” Biogen will lead development and, potentially, commercialisation and manufacturing.
Dayra, equipped with over $70 million, including an undisclosed equity commitment from Versant. Based in Toronto, Dayra is part of Versant’s Frontier Discovery Engine. The biotech is in a “very strong position,” said Rami Hannoush, its acting CEO and a venture partner at Versant, in a statement detailing the Biogen collaboration.
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Per deal terms, Biogen will also have the option to acquire candidates from Dayra for an additional undisclosed payment per program. Additionally, Dayra is eligible to receive payments tied to preclinical and clinical development milestones per program.
The companies did not disclose specific targets.
Dayra isn’t the only recently launched biotech trying to combine the strengths of small molecule drugs and biologics. Orbis Medicines, which launched in January, is similarly pursuing oral macrocyclic peptides for targets thought “undruggable.”
The collaboration with Dayra is Biogen’s latest push into immunology, which has become a growing focus for the company. Best known for its work in neurological disorders, it has invested more heavily on drugs for rare diseases and immune conditions over the past several years.
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