Versant Ventures announced the creation of Dayra Therapeutics, a biotech startup focused on developing oral macrocyclic peptides to treat a range of serious diseases. The company has raised over $70 million in committed funding, which includes a $50 million upfront collaboration with Biogen Inc. along with an equity investment from Versant.
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Dayra emerged from Versant’s Frontier Discovery Engine in Toronto and Montreal. Frontier, like the firm’s other Discovery Engines in the U.S. and Europe, brings together teams of multidisciplinary scientists in advanced laboratory facilities to enable the creation of new biotech companies. During its early stages, Dayra advanced multiple molecules targeting high-value pathways in immunology and other therapeutic areas.
Rami Hannoush, Ph.D., venture partner at Versant and acting CEO of Dayra, said the macrocycle field is reaching a new stage where it is beginning to deliver meaningful medicines. He added that Dayra benefits from the Frontier Discovery Engine’s resources, experienced leadership with macrocycle development expertise, and the foundational partnership with Biogen, positioning the company strongly for future growth.
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Under the collaboration with Biogen, the two companies will work together to identify, validate, and optimize oral macrocycle candidates for high-priority immunology targets. Biogen will take the molecules through development and potential commercialization, including manufacturing. Dayra will receive a $50 million upfront payment, and Biogen has the option to acquire each candidate with additional upfront and milestone payments per program.
Roger Palframan, Ph.D., Dayra’s Chief Scientific Officer, said that Biogen is an ideal partner because of its complementary expertise and insights. He added that Dayra’s research team is eager to work closely with Biogen to advance oral macrocycle therapies for immunology and bring innovative treatments to patients.
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