Bicycle Therapeutics pedals higher after partnering with Novartis

Bicycle Therapeutics

28/03/2023 15:07

** Shares of Bicycle Therapeutics Plc  BCYC.O  rise as much
as 6.1% to $21.405, their highest level since March 13 
    ** Says it has entered into strategic collaboration
agreement with Novartis AG  NOVN.S  to develop, manufacture and
commercialize Bicycle radio-conjugates (BRCs) for multiple
oncology targets
    ** Says Novartis will fund all pre-clinical and clinical
development and commercialization activities
    ** Bicycle will receive $50 mln upfront payment and is
eligible for development and commercial-based milestone payments
totaling up to $1.7 bln 
    ** BCYC is down ~31.9% this year, as of last close

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))