AstraZeneca in broad drug deal with Bicycle worth up to $1 billion
LONDON – AstraZeneca has signed a wide-ranging deal with private biotech firm Bicycle Therapeutics to develop a novel class of small molecule medicines for treating respiratory, cardiovascular and metabolic diseases.
The companies said on Thursday the alliance could potentially be worth more than $1 billion to Bicycle, if all planned programs reach the market. This includes an undisclosed upfront payment.
The early-stage research is focused on using Bicycle’s so-called bicyclic peptide products, which have some of the characteristics of injectable antibody drugs but are small molecules that could be given as pills.
Bicycle, which raised $32 million from investors in an initial funding round in 2014, was set up to capitalize on research initiated at the MRC Laboratory of Molecular Biology in Cambridge, England. -Reuters