Bay­er fol­lows No­var­tis' foot­steps in ink­ing ra­dio­phar­ma pact with Bi­cy­cle, pay­ing $45M cash up­front

Bay­er is en­list­ing Bi­cy­cle Ther­a­peu­tics on the cre­ation of new tar­get­ed ra­dio­ther­a­pies — and it’s hand­ing over $45 mil­lion in cash to get things start­ed.

With Bay­er sign­ing on, Bi­cy­cle can now tout part­ner­ships with both of the ma­jor phar­ma play­ers who have ap­proved ra­dio­ther­a­py med­i­cines on the mar­ket. In late March, No­var­tis paid the biotech $50 mil­lion up­front to kick-start a sim­i­lar dis­cov­ery pact. Bay­er owns Xofi­go, a prostate can­cer treat­ment, while No­var­tis has Plu­vic­to for prostate can­cer and Lu­tathera for neu­roen­docrine tu­mors.

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