Bicycle Therapeutics Expands Strategic Partnership with AstraZeneca
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The original collaboration was signed in late 2016 and with the expansion has a potential value in excess of $1 billion. Under the terms of the collaboration Bicycle is responsible for identifying Bicycles® for an undisclosed number of respiratory, cardiovascular and metabolic disease targets specified by AstraZeneca, while AstraZeneca is responsible for further development and product commercialization. The expansion provides additional disease targets and triggers an undisclosed milestone payment to Bicycle.
“This valuable collaboration increases our ability to explore and deliver on the therapeutic potential of Bicycles outside oncology, our core area of focus,” said Kevin Lee, Chief Executive Officer of Bicycle Therapeutics. “AstraZeneca’s decision to expand our alliance further validates the important work we have achieved together, based on the power and versatility of the Bicycle platform.”
“Our collaboration with Bicycle continues to be highly productive. By expanding our work into new target and indication spaces, we continue to test the platform with the aim of bringing innovative new therapies to patients,” said Menelas Pangalos, Executive Vice President, Innovative Medicines and Early Development Biotech Unit at AstraZeneca.