Bicycle and Novartis Team Up to Develop Novel Molecules

Bicycle Therapeutics and Novartis have inked a collaboration deal to develop, manufacture and commercialize radioconjugates for several oncology targets.

Radioconjugates include a radioactive isotope, a chelating agent, a linker and a targeting molecule. Bicycle’s molecules can be conjugated to other chemical payloads or to other molecules without losing their desired pharmacology.

Under the terms of the deal, Bicycle will identify the radioconjugates to develop and Novartis will be responsible for further development, manufacturing and commercialization.

Bicycle will receive an upfront payment of $50 million and is eligible to receive up to $1.7 billion in milestone payments.