Bo Jian will acquire RayThera for up to $1 billion.

Boehringer plans to acquire RayThera for up to $1 billion, expanding its pipeline of immune products. The biotechnology company said on Wednesday that the deal includes an upfront payment as well as additional payments upon achieving clinical and regulatory milestones. Boehringer stated that RayThera, based in San Diego, California, is an unlisted company with an anti-inflammatory asset portfolio that could be used to treat immune-mediated diseases across multiple indications. The main candidate drug from RayThera is expected to enter Phase 1 development in early third quarter. Boehringer stated that this deal will help expand its reach into new disease areas. The Massachusetts-based company plans to lead the development, production, and commercialization of RayThera assets after the completion of the transaction.