Bayer, Bicycle Therapeutics in cancer radiotherapy drug alliance

Bicycle Therapeutics

10/05/2023 12:29

FRANKFURT, May 10 (Reuters) - German drugmaker Bayer
 BAYGn.DE  on Wednesday said it acquired the rights to work with
Bicycle Therapeutics  BCYC.O  on the British biotech firm's
radiotherapy cancer drug candidates.
    Under the deal, Bicycle stands to receive an upfront payment
of $45 million and potentially up $1.7 billion, contingent on
development and commercial achievements, plus tiered royalties
on sales.
    The partners will work on Bicycle's radioconjugates, which
are peptides combined with radioactive particles that are
designed to attach themselves to tumour cells and destroy them.

 (Reporting by Ludwig Burger
Editing by Miranda Murray)
 ((ludwig.burger@thomsonreuters.com; +49 30 220133634;))