Biogen targets immunology growth with $1 billion RayThera deal (updated)

Biogen

18/06/2026 24:32

Adds details, background throughout

    June 17 (Reuters) - 
    Biogen BIIB.O has struck a deal to acquire private biotechnology company RayThera for up to $1 billion, the companies said on Wednesday, as the U.S.-listed drugmaker seeks to expand its pipeline in immunology.

        The transaction will include an upfront payment to RayThera shareholders, along with additional payments tied to clinical and regulatory milestones, the companies said in a statement.
      

        San Diego-based RayThera's portfolio includes several anti-inflammatory drug candidates, with its lead program expected to enter Phase 1 clinical trials in early third quarter, 2026.
      

        The deal comes at a time of 
        biotech dealmaking
         frenzy, with large drugmakers on a spending spree to expand their product pipelines this year. 
      

        In March, Biogen 
        acquired
         Apellis Pharmaceuticals for about $5.6 billion, expanding its presence in kidney disease treatments.   
      

 (Reporting by Ananya Palyekar in Bengaluru; Editing by Joyjeet Das)
 ((Ananya.Palyekar@thomsonreuters.com;))