Bicycle’s bicyclic peptides attract Genentech as first corporate immuno-oncology partner

Bicycle is tapping the value of its bicyclic peptide platform through its first broad partnership in immuno-oncology. Via the early discovery deal with Genentech, Bicycle will receive $30 million up front and is eligible for $1.7 billion in milestones, plus royalties.

The deal, the first major corporate partnership for Bicycle Therapeutics plc (NASDAQ:BCYC) in well over two years, aims to create immuno-oncology therapies against undisclosed targets based on the company’s bicyclic peptide platform. Bicycle will lead discovery and early preclinical development through candidate selection. ...