Bayer and Bicycle Therapeutics have entered into a strategic collaboration agreement to discover, develop, manufacture, and commercialise Bicycle radioconjugates for multiple oncology targets.
Bicyclic peptides are peptides consisting of 9-20 amino acids that can be synthetically manufactured and bind to targets with high affinity and selectivity, affording high tumour penetration and fast excretion from healthy organs.
They are chemically synthesisable, featuring a low molecular weight and tunable pharmacokinetics, with a large surface-area for molecular interactions that allows protein-protein interactions to be targeted.
The two companies will jointly use Bicycle’s peptide technology to develop bicyclic peptides for several oncology targets. Targeted radiotherapies have the potential to unlock a broad opportunity space and serve patients in high-unmet medical need indications.
Under the terms of the agreement, Bicycle will utilise its proprietary phage platform to discover and develop bicyclic peptides and Bayer will be responsible for, and fully fund, all further preclinical and clinical development, manufacturing, and commercialisation activities.
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.