Bayer and Bicycle Therapeutics announced a strategic partnership agreement to develop, manufacture and commercialize targeted radiation conjugate drugs in the field of oncology using Bicycle Therapeutics’s synthetic peptide technology.
Targeted radiotherapy is an innovative form of cancer therapy. On the basis of its distinctive mode of action, it is anticipated that it will provide new remedies for patients with significant unmet medical requirements. Under the terms of the agreement, Bicycle will discover and develop bicyclic peptides, while Bayer will be responsible for and fund all additional preclinical and clinical development, manufacturing, and commercialization efforts. Bicycle will receive an upfront payment of $45 million in addition to prospective development and business-based milestone payments aggregating up to $1.7 billion. In addition, Bicycle will be eligible for tiered royalties in the middle to double digits.
Bicyclic peptides are peptides composed of 9 to 20 amino acids, which can be synthesized and combined with the target with high affinity and selectivity. Bicyclic peptides have high tumor permeability and can be excreted quickly from healthy organs. Bicyclic peptides with their low molecular weight, modifiable pharmacokinetic properties, and large surface area of molecular interactions can achieve targeted protein-protein interactions. Using Bicycle’s peptide technology, the two companies will develop Bicyclic peptide targeting radiopharmaceuticals for multiple unidentified tumor targets.
Dr. Christian Rommel, Global head of Research and Development and member of the Executive Committee of Bayer Pharmaceutical, said, “At Bayer, we work with strategic partners to accelerate innovation. Through Bicycle’s proprietary peptide technology, we are strengthening our oncology development pipeline in order to contribute the next generation of targeted radiotherapy drugs to meet the high medical needs of cancer patients. “
Dr. Kevin Lee, the chief executive officer of Bicycle Therapeutics, remarked, “Bayer is a pioneer in the field of radiopharmaceuticals, providing new validation of our innovative technology. We believe that combining the Bicyclic peptide technology platform with Bayer’s size and expertise in the development of radiopharmaceuticals has the potential to enhance clinical outcomes for cancer patients. We anticipate collaborating with Bayer to introduce a potentially innovative radiopharmaceutical therapy based on bicyclic peptides.