Biogen signed an exclusive worldwide license with Vanqua Bio, paying $70 million up front for preclinical C5aR1 antagonist VQ-201 and agreeing to as much as $990 million in milestone payments. Biogen will lead all development, manufacturing and commercialization, while Vanqua retains rights to focus on its neuroscience pipeline. The deal centers on C5aR1, an innate-immune target implicated across inflammatory diseases; Biogen describes it as a "well-validated" axis with broad therapeutic potential. Biogen expects to request FDA permission to start human trials by 2027 if preclinical data remain supportive, and the arrangement cushions Vanqua with near-term capital while delegating clinical risk to a larger partner.