Bayer and Bicycle Therapeutics Enter into Strategic Collaboration
Wednesday, May 10, 2023
Bayer and Bicycle Therapeutics announced that they have entered into a strategic collaboration agreement to discover, develop, manufacture, and commercialise Bicycle radioconjugates for multiple agreed upon oncology targets.
Under the terms of the agreement, Bayer and Bicycle will collaborate on the development of bicyclic peptides for multiple oncology targets. Bicycle will receive a $45 million upfront payment and with potential development and commercial-based milestone fees, payments to Bicycle could total up to $1.7 billion. Bicycle will also be eligible to receive mid-single to double-digit tiered royalties on Bicycle-based medicines commercialized by Bayer.
The two companies will jointly use Bicycle’s peptide technology to develop bicyclic peptides for several undisclosed oncology targets. With this Bicycle’s proprietary peptide-based technology, continues to strengthen the oncology development pipeline by adding next-generation targeted radiotherapeutics to address high unmet medical needs of cancer patients.
The bicyclic peptide platform, coupled with Bayer’s scale and expertise in developing radiopharmaceuticals, has the potential to deliver improved clinical outcomes for patients with cancer.
