Biogen makes $50 million partnership with brand-new biotech
New England Council member, Biogen, recently made a $50 million upfront payment to Dayra Therapeutics. On its launch day, Dayra emerged with $70 million in committed funding.
This deal builds on Biogen’s sustained investment in immunology. Over the past year, the company has invested $1.27 billion in this space—mainly driven by its acquisition of Human Immunology Biosciences—and just last month, Biogen added a $70 million upfront preclinical immunology asset.
“With this collaboration, we are adding another potential best-in-class approach to our early-stage portfolio to target multiple high-value immunological conditions,” said Jane Grogan, Ph.D., Executive Vice President and Head of Research at Biogen. Dayra Therapeutics acting CEO Rami Hannoush, Ph.D., agreed, “With Biogen’s expertise and deep commitment to developing new treatment options for immunological conditions, we look forward to working together to unlock the potential of this innovative class of medicines.”
The New England Council congratulates Biogen and Dayra Therapeutics on this exciting partnership.
Read more via Boston Business Journal and Biogen