Bayer In Deal With Bicycle Therapeutics To Develop Radionuclide Therapies

(RTTNews) - Bayer AG (BAYZF.PK) and Bicycle Therapeutics plc (BCYC) Wednesday announced partnership to develop Bicycle radioconjugates for multiple oncology targets.

As per the deal, Bicycle will utilize its proprietary platform to develop bicyclic peptides for multiple oncology targets, and Bayer will fully fund all development and commercialization activities.

Bicycle will receive an upfront payment of $45 million, with milestone payments, on achieving certain targets of 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.