Bicycle CLIPS cost €4m+
Bicycle Therapeutics plc in Cambridge has settled IP disputes worldwide with Dutch company Pepscan Systems B.V. regarding Bicycle’s use of Pepscan’s CLIPS peptide technology.
Bicycle has been granted a licence to use CLIPS in the development of its product candidates BT1718 and THR-149.
It will pay €3 million upfront, €1 million on the first anniversary of the date of settlement and make potential additional payments to Pepscan based on achievement of specified clinical, regulatory and commercial milestones.
Nasdaq-quoted Bicycle Therapeutics is pioneering a new and differentiated class of therapeutics based on its proprietary bicyclic peptide technology.