Versant launches Dayra with $50M Biogen deal to chase oral macrocyclic peptide drugs

Versant Ventures has unveiled Dayra Therapeutics, a new biotech focused on oral macrocyclic peptide drugs, kicking off with a $50 million research pact with Biogen and a $20 million equity boost from Versant.

Why it matters: Dayra’s platform could unlock powerful treatments for hard-to-target immunological diseases by overcoming the bioavailability hurdles that have historically limited macrocyclic peptides, potentially transforming drug discovery for “undruggable” targets.

Backstory: Macrocyclic peptides are prized for their precision, potency, and durability, but developing oral versions has been a major scientific challenge. Recent industry moves, including a $1.5B pact between argenx and Unnatural Products, signal renewed belief in their potential.

Big picture: Big Pharma is betting heavily on macrocycles, with Merck & Co. having also signed a deal with Unnatural Products. Biogen’s backing of Dayra reflects its strategic pivot back to immunology and the growing appetite for innovative platforms that can reach new disease targets.