(CercleFinance.com) – Bicycle Therapeutic announced on Wednesday that it had established a strategic collaboration agreement with the German company Bayer on research around the use of bicyclic peptides in oncology.
The two partners say they want to use the bicyclic peptide synthesis technology developed by Bicycle to develop targeted cancer therapies.
Bicycle Therapeutics develops chains of amino acids called peptides that can be made synthetically, with the characteristic of allowing strong penetration of tumors while leaving healthy cells intact.
Under the terms of the agreement, Bicycle will receive an initial payment from Bayer of $45 million, which could be supplemented by further milestone payments of up to $1.7 billion, not including royalties. on possible future products.
Following this announcement, Bicycle shares climbed 4.5% on the Nasdaq on Wednesday.
Copyright © 2023 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends with the buttons below.
