Biogen committed a $50 million upfront payment to Dayra Therapeutics in a collaboration to develop oral macrocycles for immune and inflammatory (I&I) diseases. The deal, announced by Biogen and Dayra (a Versant Ventures‑backed startup), pairs Biogen’s clinical scale with Dayra’s macrocycle platform and positions oral macrocycles as a commercially attractive modality for chronic I&I indications. The agreement accelerates Dayra’s transition from seed startup to partnered developer and signals continued appetite for orally bioavailable macrocycles.