Biogen Inc. (NASDAQ: BIIB) has announced its acquisition of RayThera Inc., a private biotech company, for a sum of up to $1 billion. This move is part of Biogen's strategy to expand its immunology pipeline and enter into new disease areas. The agreement involves an initial payment made to RayThera shareholders, with most of the total amount dependent on achieving future clinical and regulatory milestones. The deal is set to be finalized in the third quarter of 2026. RayThera specializes in the development of small-molecule therapies for immunology, adding valuable early-stage assets to Biogen's portfolio.