Biogen struck an exclusive global licensing deal with Vanqua Bio, paying $70 million up front for a preclinical C5aR1 antagonist and reserving up to roughly $990 million in downstream milestones. The transaction moves Biogen deeper into innate-immunity modulation, a strategic pivot the company’s R&D leadership framed as broadening its immunology footprint. Biogen will lead development, manufacturing and commercialization; Vanqua will retain focus on its neuroscience programs. C5aR1 is a validated complement–inflammatory axis target implicated across inflammatory and autoimmune disorders; acquiring a preclinical antagonist gives Biogen an early-stage option to test that biology in multiple indications.