Biogen Acquires RayThera for Up to $1 Billion to Expand Immunology Pipeline
June 18, 2026
Biogen entered into a definitive agreement to acquire RayThera, a private immunology-focused biotechnology company, for total consideration of up to $1 billion driven by an upfront payment plus clinical and regulatory milestone payments. The deal is expected to close in the third quarter of 2026, with Biogen taking over development, manufacturing, and global commercialization of RayThera’s small-molecule anti-inflammatory assets.
- Buyers
- Biogen Inc.
- Targets
- RayThera Inc.
- Sellers
- RayThera shareholders
- Industry
- Healthcare Services
- Location
- California, United States
- Transaction Type
- Buyout
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