Bicycle could earn $1.7bn from Genentech collaboration
Bicycle Therapeutics in Cambridge has clinched a $30 million upfront payment from Roche Group business Genentech as part of a strategic technology collaboration that could haul in up to $1.7 billion.
Bicycle will also be eligible to receive tiered royalties on Bicycle-based medicines commercialised by Genentech. Bicycle will be exploring its technology on a wider range of immuno-oncology targets, combining the expertise of both companies.
Bicycle will contribute its proprietary discovery platform, which allows rapid screening of novel targets to identify Bicycles and the ability to readily conjugate these together to create novel molecules that may overcome the potential limitations of other modalities.
Genentech brings to the table its knowledge of immuno-oncology drug discovery and emerging target biology, as well as its development and commercialisation expertise.
Bicycle CEO Kevin Lee said: “Our collaboration with Genentech recognises the potential of Bicycle’s differentiated technology, which allows us to specifically direct immune cell stimulators and other payloads to tumours in a highly targeted manner.
“In addition, the flexibility of the Bicycle platform enables rapid exploration of structure-activity relationships to fully optimise candidate molecules. We look forward to working closely with Genentech to pioneer the discovery and development of potential new cutting-edge cancer treatments based on Bicycles.”
James Sabry, global head of Pharma Partnering, Roche added: “Bicycles represent a novel therapeutic modality and have shown promise as modulators of several types of tumour-killing immune cells.
“By leveraging Genentech’s deep understanding of cancer immunology and Bicycle’s technological expertise, we hope to create a new wave of immunotherapy options to expand the population of patients who could potentially benefit from this powerful treatment paradigm.”