Biogen Expands Immunology Pipeline with Agreement to Acquire RayThera Inc. (opens original article in a new tab)

Biogen expands its immunology pipeline by acquiring RayThera Inc. for up to $1 billion, adding multiple assets including a lead candidate advancing to Phase 1 development.

• Biogen agrees to acquire RayThera Inc. for up to $1 billion
• Acquisition includes multiple immunology assets with a lead candidate entering Phase 1 development in 2026
• Transaction requires regulatory approvals and is expected to close in Q3 2026
• RayThera's portfolio focuses on small molecule therapies for immune-mediated conditions