Rare Daily Staff
Biogen spin-out Bioverativ said it entered into a collaboration with Bicycle Therapeutics focused on the discovery, development, and commercialization of a new class of peptide therapeutics to treat hemophilia and sickle cell disease.
Under the agreement, Bioverative will pay Cambridge, United Kingdom-based Bicycle a $10 million upfront payment and near-term research and development funding of $4.2 million. Bicycle could receive up to $410 million in development, regulatory, and commercialization milestones for products under the two programs, as well as low, double-digit royalties on product sales.
Bicycle Therapeutics will be responsible for leading initial discovery activities through lead optimization to candidate selection for two programs. Bioverativ will lead preclinical and clinical development, as well as subsequent marketing and commercialization. Bioverativ will reimburse Bicycle for internal and external program-related costs.
Bicycle Therapeutics is developing a proprietary platform to produce therapeutic bicyclic peptides called bicycles. These peptides combine the high selectivity and affinity of antibodies while being able to penetrate and bind to a target of interest within the body because of their small size.
“This collaboration offers a unique opportunity to identify an entirely new therapeutic modality that may lead to meaningful new treatments and outcomes for people living with hemophilia and sickle cell disease,” said Tim Harris, executive vice president of research and development for Bioverativ.
September 7, 2017