AstraZeneca Strikes Deal with Bicycle Therapeutics

AstraZeneca entered a collaboration with Bicycle Therapeutics for the identification and development of bicyclic peptides.

Bicycle Therapeutics announced on Dec. 1, 2016 that the company has entered a collaboration with AstraZeneca for the identification and development of bicyclic peptides for the treatment of respiratory, cardiovascular, and metabolic diseases. Bicycles, a novel class of small molecule medicines, exhibit target specificity associated with antibodies but in a small-molecule format, enabling rapid tissue penetration and flexible routes of administration.

Under the terms of the agreement, Bicycle is responsible for identifying Bicycles for an undisclosed number of targets specified by AstraZeneca while AstraZeneca is responsible for further development and product commercialization. If all planned programs reach the market, Bicycle will be eligible for over $1 billion in payments, including an upfront payment, future R&D funding, development, regulatory, and commercialization milestone payments. Bicycle would also be entitled to receive royalties on sales of products resulting from the collaboration.