CAMBRIDGE, Mass., Aug.  06, 2026  (GLOBE NEWSWIRE) -- Biogen Inc. (NASDAQ:BIIB) today announced the completion of the acquisition of RayThera Inc., a privately held biotechnology company focused on discovering and

BIIB

Biogen Completes Acquisition of RayThera Inc.

Biogen closes RayThera deal, expands immunology pipeline with Phase 1 asset

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>CAMBRIDGE, Mass., Aug.  06, 2026  (GLOBE NEWSWIRE) -- Biogen Inc. (NASDAQ:BIIB) today announced the completion of the acquisition of RayThera Inc., a privately held biotechnology company focused on discovering and</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Biogen announced the completion of its acquisition of RayThera Inc., adding small-molecule immunology assets to its portfolio. The lead program has entered Phase 1, boosting Biogen&#039;s immunology growth strategy and pipeline diversification under its open-innovation approach. Terms were not disclosed, and integration risk remains a consideration for value realization.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Biogen completes RayThera acquisition, expanding immunology portfolio.</li><li>RayThera lead program enters Phase 1 in July 2026.</li><li>Acquisition enhances open-innovation model and long-term growth potential.</li><li>No disclosed financial terms; integration risk remains.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Biogen Inc. (BIIB)</strong>: Completes RayThera acquisition; expands immunology portfolio and long-term growth prospects.</li><li><strong>RayThera Inc. (Private)</strong>: Acquired by Biogen; focuses on small-molecule immunology; lead program in Phase 1.</li></ul>
  </section>

  <section data-block="category">
    <h3>M&amp;A</h3>
    <p>M&amp;A activity with strategic fit to Biogen&#039;s immunology expansion and open-innovation model; signals pipeline diversification and potential long-term valuation uplift.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Lead RayThera Phase 1 program could influence milestone expectations and partnerships.</li><li>Acquisition broadens Biogen&#039;s immunology portfolio, aligning with growth strategy.</li><li>No disclosed financial terms; integration and funding risks could affect upside.</li><li>Positive sentiment around pipeline expansion may support BIIB shares near term.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Acquisition completed: Aug 6, 2026.</li><li>RayThera Inc. is privately held; terms undisclosed.</li><li>Lead RayThera program entered Phase 1 in July 2026.</li><li>Biogen emphasizes open-innovation model and long-term growth.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>BIIB upside potential as RayThera assets mature; monitor Phase 1 outcomes over 12–24 months.</p>
  </section>
</section>


<link type="text/css" rel="stylesheet" href="https://www.globenewswire.com/styles/gnw_nitf.css"></link><p>CAMBRIDGE, Mass., Aug.  06, 2026  (GLOBE NEWSWIRE) -- <a href="https://www.globenewswire.com/Tracker?data=XOu9keYNHL339hexlfwjjYn-uJJYaoOfPT_sPUJKZINxE2Uml6kuN5iQl54QxuXGi4lhtxHmfNuCKQiibFbMhA==" rel="nofollow" target="_blank">Biogen</a> Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/BIIB">BIIB</a>) today announced the completion of the acquisition of RayThera Inc., a privately held biotechnology company focused on discovering and developing small-molecule therapies in immunology.</p>    <p>The acquisition strengthens Biogen’s growing immunology portfolio, adding multiple assets that have potential to treat immune-mediated conditions across a range of indications. The lead program entered Phase 1 development in July 2026.</p>    <p>"We are excited about the potential of these immunology assets as we continue to strengthen and diversify our pipeline for long-term growth," said Priya Singhal, M.D., M.P.H., Executive Vice President and Head of Development at Biogen. "With the lead program now in Phase 1, this acquisition highlights strong execution on our open innovation model in sourcing external opportunities and reflects our continued investment in immunology as a strategic growth area."</p>    <p><strong>About Biogen</strong><br></br>Founded in 1978, Biogen is a leading biotechnology company that pioneers innovative science to deliver new medicines to transform patients’ lives and to create value for shareholders and our communities. We apply deep understanding of human biology and leverage different modalities to advance first-in-class treatments or therapies that deliver superior outcomes. Our approach is to take bold risks, balanced with return on investment to deliver long-term growth.<br></br><br></br>We routinely post information that may be important to investors on our website at <a href="https://www.globenewswire.com/Tracker?data=h4LbgjUrpRYuc-N2U010S4o_3yqBvMBPo7fDVrgIhw0lKwU2BVqiitHkxC1JZ1SuUdEJ_Es5Vy_u_FdcUiJ_uA==" rel="nofollow" target="_blank">www.biogen.com</a>. Follow us on social media - <a href="https://www.globenewswire.com/Tracker?data=vEJ9eWC8tNVfeiFFTRErQGfMbuB-DfEH9ut_LqIAbiD4EYAcd-9HEOUjQuUD4FyRZ9JL74d0pg2GOlMwtZ3OQzPAK5guEblsj_zuAMD8UwI=" rel="nofollow" target="_blank">Facebook</a>, <a href="https://www.globenewswire.com/Tracker?data=A4KquCh3lCBbz6xmgDUScc_I4IxOVQ0lM3s6tFEXkJ-Ku_ne_DYyLE-qBDlgQ1naIP33j1BjAl9r6GoCGiiStI62R47GTahFtdiFcdRJ-2E=" rel="nofollow" target="_blank">LinkedIn</a>, <a href="https://www.globenewswire.com/Tracker?data=Q3wUVSPvuZPVibaZmz_0hiBHy8gJzEnCI4xbncfa4-PscC6uH1i9sK6Jsp4M1PQZ17FlmOQ9IlpWrI4TuDfqDw==" rel="nofollow" target="_blank">X</a>, <a href="https://www.globenewswire.com/Tracker?data=t9kXl01Qx-g4B4UQq-En2Ek1YKpYY-bv8B_ICEYQXKUILmjzGr8mI2KKzWr2oi7y0QHrzba1FPc-7O3PYF6Maw6NRtROtiVeRXCO_ko3OX4=" rel="nofollow" target="_blank">YouTube</a>.</p>    <p><strong>Biogen Safe Harbor </strong><br></br>This press release contains forward-looking statements that are being made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995 (the PSLRA) with the intention of obtaining the benefits of the "Safe Harbor" provisions of the PSLRA. This press release contains forward-looking statements, including relating to: the anticipated benefits of the RayThera Inc. acquisition (the "Acquisition"); our growing immunology portfolio, including the potential strengthening and diversification of our pipeline for long-term growth; our investment in immunology as a strategic growth area; and the anticipated financial impacts of the Acquisition. These forward-looking statements may be accompanied by such words as "aim," "anticipate," "assume," "believe," "contemplate," "continue," "could," "estimate," "expect," "forecast," "goal," "guidance," "hope," "intend," "may," "objective," "outlook," "plan," "possible," "potential," "predict," "project," "prospect," "should," "target," "will," "would," and other words and terms of similar meaning. Drug development and commercialization involve a high degree of risk, and only a small number of research and development programs result in commercialization of a product. Results in early-stage clinical trials may not be indicative of full results or results from later stage or larger scale clinical trials and do not ensure regulatory approval. You should not place undue reliance on these statements. Given their forward-looking nature, these statements involve substantial risks and uncertainties that may be based on inaccurate assumptions and could cause actual results to differ materially from those reflected in such statements.</p>    <p>These forward-looking statements are based on management&#39;s current beliefs and assumptions and on information currently available to management. Given their nature, we cannot assure that any outcome expressed in these forward-looking statements will be realized in whole or in part. We caution that these statements are subject to risks and uncertainties, many of which are outside of our control and could cause future events or results to be materially different from those stated or implied in this document, including, among others, factors relating to: the possibility that the thresholds for clinical and regulatory milestone payments are never met; results of litigation, settlements and investigations; actions by third parties, including governmental agencies; unexpected costs, charges or expenses resulting from the Acquisition; potential adverse reactions or changes to business relationships resulting from the announcement or completion of the Acquisition; the risk that Biogen may not be able to successfully integrate the business of RayThera and realize the expected benefits of the Acquisition in a timely manner or at all; uncertainty of our long-term success in developing, licensing, or acquiring other product candidates or additional indications for existing products; expectations, plans, prospects and timing of actions relating to product approvals, approvals of additional indications for our existing products, sales, pricing, growth, reimbursement and launch of our marketed and pipeline products; the potential impact of increased product competition in the biopharmaceutical and healthcare industry, as well as any other markets in which we compete, including increased competition from new originator therapies, generics, prodrugs and biosimilars of existing products and products approved under abbreviated regulatory pathways; our ability to effectively implement our corporate strategy; difficulties in obtaining and maintaining adequate coverage, pricing, and reimbursement for our products; the drivers for growing our business, including our dependence on collaborators and other third parties for the development, regulatory approval, and commercialization of products and other aspects of our business, which are outside of our full control; risks related to commercialization of biosimilars, which is subject to such risks related to our reliance on third-parties, intellectual property, competitive and market challenges and regulatory compliance; the risk that positive results in a clinical trial may not be replicated in subsequent or confirmatory trials or success in early stage clinical trials may not be predictive of results in later stage or large scale clinical trials or trials in other potential indications; risks associated with clinical trials, including our ability to adequately manage clinical activities, unexpected concerns that may arise from additional data or analysis obtained during clinical trials, regulatory authorities may require additional information or further studies, or may fail to approve or may delay approval of our drug candidates; and the occurrence of adverse safety events, restrictions on use with our products, or product liability claims; and any other risks and uncertainties that are described in other reports we have filed with the U.S. Securities and Exchange Commission, which are available on the SEC’s website at <a href="https://www.globenewswire.com/Tracker?data=X1TcXP3k0kQu0AQ2IrKsAbzMbmPuVq4MU0iycENG0AYuXkOawyUIz6y7qUMioLXUp81BH--khCpYuSD2efoRgWeG7WgK-6AtNL-I86G35uJOQDNh3B8eAuXRd7YoYuSL0vd0HzmtKJjiqv3xa2UWyXTgQnURbejgOlB-6NZ-2T5WSCvnTtSWo1bPRhXRMI85I6GsOQEVgTmwMyERFyegnEuQNeTUOBeUtdAHF3oOGjg=" rel="nofollow" target="_blank"><u>www.sec.gov</u></a>.</p>    <p>These statements speak only as of date hereof and are based on information and estimates available to us at this time. Should known or unknown risks or uncertainties materialize or should underlying assumptions prove inaccurate, actual results could vary materially from past results and those anticipated, estimated, or projected. Investors are cautioned not to put undue reliance on forward-looking statements. A further list and description of risks, uncertainties and other matters can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and in our subsequent reports on Form 10-Q, in each case including in the sections thereof captioned "Note Regarding Forward-Looking Statements" and "Item 1A. Risk Factors," and in our subsequent reports on Form 8-K. Except as required by law, we do not undertake any obligation to publicly update any forward-looking statements whether as a result of any new information, future events, changed circumstances or otherwise.</p>    <p><strong>Biogen Digital Media Disclosure</strong><br></br>From time to time, we have used, or expect in the future to use, our investor relations website (<a href="https://www.globenewswire.com/Tracker?data=gWm-RSCuYItl2tQEhxdO3K-Y82PgZw72yiESJI8vcI3WweMpfsYiAC0N7MGa5SuAKzkglTaM43ojpCDUbA5_Nf_OzlnprMJ3839FjvUPf8l_h0RatsbfVnjbpPcjeszcAK1RWwdPEOJHiZ8-DXOT_flKaanxctm2uATFwxK5uYnnW4avLuxVEZAR2-K2Ow-jJOhfkVhfjjkgJgXRgrsaUkyj7kmsT4i58NOPeCYgAG-9_wmyFfQQzsE8SPTnOS9L4CV8Aaj02LHnOtoOnH8zNQ==" rel="nofollow" target="_blank"><u>investors.biogen.com</u></a>), the Biogen LinkedIn account (<a href="https://www.globenewswire.com/Tracker?data=AB2oWgLT5jH84Z15yOFMLbHIH-CRZCFQxlEfb-DKk8FVSiXvQElP1TwZ4fFpfnfF-Ed63wwvZkCrNMEqei6kA5-S4QzCXWl-jhRQl8b7dalaLRJ2d-KyQu3UQFru9Ok-qyX22Zg3N2RNtAxiUTBSKOCIH2sUHI2car7ITCJXXTCmIghugELj6D6RLwKs-h9Mv9ekPM5pLiD2cSLehkIzFn10FqjPF9ZdsM7Wm-oB9qSqOpyIx2jMNhfwuBs0KnuxgA57zXTxYdXTbh_sCWxFGf7ojTvxT-40ODqKDtt2AY5ZrHmx3UeggpurqEfrPyox-ztT-3ONGjXgGGcd3rhjUA==" rel="nofollow" target="_blank"><u>linkedin.com/company/biogen-</u></a>) and the Biogen X account (<a href="https://www.globenewswire.com/Tracker?data=29uhjO81SPF3SCBEssKLOKV97wJeOgXt9J2SabVvyo_47B5YuDURJibFlG7A9oaTNp0grjK2pcA1NhXwKg4wrTd5mvN7gIwAoxgHXgdQlPW7-3c5Qbl-oW0nyn7w9z2LDZWLqWRKoFoXBw_4yN9lzpZE4Uy-FomspnKydLQ9qzvbWRIRMDOZ2SeQjEKo9UO9vnGP1YV_e8p2Z-SJnAV3C2Fe2pRh-QhEZUO9rWWg7zKTELkb3WXlBnKmPHd5B1kCpLm92150cxPPVDIw-j1s3g==" rel="nofollow" target="_blank"><u>https://x.com/biogen</u></a>) as a means of disclosing information to the public in a broad, non-exclusionary manner, including for purposes of the SEC’s Regulation Fair Disclosure (Reg FD). Accordingly, investors should monitor our investor relations website and these social media channels in addition to our press releases, SEC filings, public conference calls and websites, as the information posted on them could be material to investors.</p>  <table style="border-collapse: collapse; width:100%; border-collapse:collapse ;"><tr><td style="max-width:45%; width:45%; min-width:45%;;vertical-align: top ; ">MEDIA CONTACT:<br></br>Madeleine Shin<br></br>+ 1 781 464 3260<br></br><a href="mailto:public.affairs@biogen.com" rel="nofollow" target="_blank">public.affairs@biogen.com</a><br></br></td><td style="max-width:55%; width:55%; min-width:55%;;vertical-align: top ; ">INVESTOR CONTACT:<br></br>Tim Power<br></br>+1 781 464 2442<br></br><a href="mailto:IR@biogen.com" rel="nofollow" target="_blank">IR@biogen.com</a><br></br></td></tr></table><img alt="" class="__GNW8366DE3E__IMG" src="https://www.globenewswire.com/newsroom/ti?nf=OTgwNTc1NyM3NzYzNzM0IzIwMDk2ODQ="></img> <br></br><img alt="" src="https://ml.globenewswire.com/media/ZGU5MThmNTktMzk2Ni00MTQ1LTkxZjgtYzIwODkyYTYyNDUzLTEwMjEyNTctMjAyNi0wOC0wNi1lbg==/tiny/Biogen-Inc-.png" referrerpolicy="no-referrer-when-downgrade"></img><p><a href="https://www.globenewswire.com/NewsRoom/AttachmentNg/80f9c524-3da2-4583-a763-0dad931fa182"><img src="https://ml.globenewswire.com/media/80f9c524-3da2-4583-a763-0dad931fa182/small/biogen-logo-standard-rgb-r-jpg.jpg" border="0" width="150" height="50" alt="Primary Logo"></img></a></p>

Biogen announced the completion of its acquisition of RayThera Inc., adding small-molecule immunology assets to its portfolio. The lead program has entered Phase 1, boosting Biogen's immunology growth strategy and pipeline diversification under its open-innovation approach. Terms were not disclosed, and integration risk remains a consideration for value realization.

News insight

Biogen Completes Acquisition of RayThera Inc.

AI summary

Sentiment rationale

Key facts

M&A