November 24, 2025 — Leads & Copy — Biogen Inc. and Dayra Therapeutics have announced a research collaboration to discover and develop oral macrocyclic peptides for priority targets in immunological conditions.
According to the press release, macrocyclic peptides have a unique profile with the potential to offer biologic-like efficacy and safety in an oral format, potentially disrupting established antibody-based treatments. The collaboration enhances Biogen’s strategy to build a differentiated immunology portfolio.
Biogen and Dayra will collaborate to identify, validate and optimize oral macrocycle candidates for high-priority immunological targets. Biogen will advance the molecules through further development and potential commercialization, including manufacturing.
Dr. Jane Grogan, Executive Vice President and Head of Research at Biogen, stated that the collaboration adds another potential best-in-class approach to Biogen’s early-stage portfolio to target multiple high-value immunological conditions. Grogan added that Biogen believes Dayra Therapeutics’ macrocycle discovery platform could help realize the full potential of macrocycle-based treatments.
Dr. Rami Hannoush, venture partner at Versant Ventures and Dayra’s acting CEO, said that the agreement with Biogen marks an important milestone as they advance their next-generation oral macrocyclic peptides against clinically validated immunological targets. Hannoush added that with Biogen’s expertise and deep commitment to developing new treatment options for immunological conditions, Dayra looks forward to working together to unlock the potential of this innovative class of medicines.
Under the terms of the agreement, Dayra Therapeutics will receive a $50 million upfront payment, and Biogen has the option to acquire the development candidates from Dayra Therapeutics for a potential additional payment per program. Dayra Therapeutics will also be eligible to receive preclinical and clinical development milestone payments per program. The upfront payment will be recorded by Biogen as an Acquired In-Process Research and Development expense in the fourth quarter of 2025 and was included in Biogen’s updated guidance for 2025 provided on October 30, 2025.
Biogen, founded in 1978, is a biotechnology company that pioneers innovative science to deliver new medicines to transform patients’ lives and to create value for shareholders and communities. Biogen applies deep understanding of human biology and leverages different modalities to advance first-in-class treatments or therapies that deliver superior outcomes. Biogen routinely posts information that may be important to investors on its website.
Dayra Therapeutics pioneers the development of oral macrocyclic peptide therapeutics to treat a range of human diseases. The company combines its macrocycle discovery platform with computational design and modeling to advance novel macrocyclic peptides that selectively target disease-relevant proteins. Dayra was founded in 2024 by Versant Ventures through the firm’s Frontier Discovery Engine.
Biogen Media Contact:
Madeleine Shin
+ 1 781 464 3260
public.affairs@biogen.com
Biogen Investor Contact:
Tim Power
+1 781 464 2442
IR@biogen.com
Dayra Media and Investor Contacts:
Steve Edelson
+1 415 309 3390
sedelson@versantventures.com
Source: Biogen
