04:32 AM EDT, 06/18/2026 (MT Newswires) -- Biogen (BIIB) said Wednesday it has agreed to purchase private biotechnology firm RayThera for up to $1 billion.

The financial arrangement has an initial payment followed by performance-based clinical and regulatory payouts for various anti-inflammatory assets for immune system-related illnesses, the company said.

The principal drug candidate is slated to enter Phase 1 at the start of Q3, with the overall transaction expected to close during the same period, it said.

Biogen also said it will assume full control over the progression, manufacturing, and worldwide distribution of the new treatments once the deal closes.