- Startup emerges from Versant’s Frontier Discovery Engine with over $70 million in capital to develop oral macrocyclic peptides
- Biogen and Dayra partnership will identify, validate and optimize oral macrocycle candidates for high-priority immunological targets
TORONTO & CAMBRIDGE, Mass.--(BUSINESS WIRE)--Versant Ventures today announced the launch of Dayra Therapeutics, a startup focused on developing oral macrocyclic peptides for a range of serious diseases. The company has secured more than $70 million in committed funding, including a collaboration with Biogen Inc. that will provide $50 million in upfront capital, as well as an equity commitment from Versant.
Dayra emerged from Versant’s Frontier Discovery Engine that spans Toronto and Montreal. Frontier, like the firm’s U.S. and European-based Discovery Engines, houses a team of multi-disciplinary scientists working in state-of-the-art laboratory facilities in Canada to enable the launch of novel biotech companies. During the seed stage, Dayra made significant progress advancing molecules against several high-value targets in the immunology space as well as in other fields.
“The field of macrocycles is at a new inflection point and is starting to deliver meaningful medicines,” said Rami Hannoush, Ph.D., venture partner at Versant and Dayra’s acting CEO. “Dayra has brought together insights and enablement from Versant’s Frontier Discovery Engine, exceptional leadership with deep macrocycle drug development expertise, and this foundational collaboration with Biogen, putting the company in a very strong position.”
Under the partnership with Biogen, which was detailed in a separate announcement, the companies will collaborate to identify, validate and optimize oral macrocycle candidates for high-priority immunological targets. Biogen will advance the molecules through further development and potential commercialization, including manufacturing.
Dayra will receive a $50 million payment, and Biogen has the option to acquire each development candidate for additional upfront and milestone payments per program.
“Biogen is an ideal partner for Dayra, bringing complementary capabilities and insights,” said Roger Palframan, Ph.D., Dayra CSO. “Our talented research team is looking forward to working in close collaboration to deploy our novel approaches to discover and deliver oral macrocycle therapies for immunology.”
About Versant Ventures
Versant Ventures is a leading healthcare venture capital firm committed to helping exceptional entrepreneurs build the next generation of great companies. The firm’s emphasis is on biotechnology companies that are discovering and developing novel therapeutics. With $5.5 billion under management and offices in the U.S., Canada and Europe, Versant has built a team with deep investment, operating and R&D expertise that enables a hands-on approach to company building. Since the firm’s founding in 1999, more than 100 Versant companies have achieved successful acquisitions or IPOs. For more information, please visit www.versantventures.com.
About Dayra Therapeutics
Dayra is pioneering the development of oral macrocyclic peptide therapeutics to treat a range of human diseases. The company combines its macrocycle discovery platform with computational design and modeling to advance novel macrocyclic peptides that selectively target disease-relevant proteins. Dayra was founded in 2024 by Versant Ventures through the firm’s Frontier Discovery Engine. For additional information, please visit www.dayratx.com.
Contacts
Dayra Therapeutics
Steve Edelson
415-801-8088
sedelson@versantventures.com
