Biogen signed an early collaboration with newly launched Dayra Therapeutics—backed by Versant Ventures—paying $50 million up front to discover and optimize oral macrocyclic peptide candidates for immunological targets. Dayra debuted with more than $70 million in capital commitments and will focus on delivering orally available, biologic‑like modalities that Biogen can advance into clinical development and commercialization. The pact gives Biogen an option to acquire programs and signals continued Big Pharma interest in macrocycles to address traditionally undruggable immunology targets.