Versant-backed start-up Dayra emerges with Biogen partnership: Deals Report

A new start-up backed by Versant Ventures, Dayra Therapeutics, emerged from stealth mode Monday with an agreement to develop macrocyclic peptide therapies alongside Biogen. The young company will have more than $70 million in runway, including cash from the deal and Versant’s investment.

Biogen Inc. (NASDAQ:BIIB) is supplying $50 million up front to Dayra in the agreement. The partners said they’re aiming to create oral therapies against undisclosed “priority” targets in immunology, with potential to compete against antibodies. Biogen will have options to acquire each program, and Dayra is eligible for additional milestones...