Biogen struck an exclusive global licensing deal for Vanqua Bio’s preclinical C5aR1 inhibitor, paying $70 million up front with up to $990 million in development, regulatory and commercial milestones. Biogen will lead development, manufacturing and commercialization and expects to seek IND-enabling study progression toward a first-in-human trial in 2027 if preclinical data hold. Vanqua retains rights to focus on its neuroscience pipeline while receiving upfront cash and potential royalties; analysts framed the asset as an early-stage immunology play that broadens Biogen’s portfolio beyond neuroscience.