Kevin Lee, Bicycle Therapeutics CEO
Novartis rides with Bicycle for new pact on targeted radiotherapies
Novartis has inked a three-year deal with Bicycle Therapeutics to develop new targeted radiotherapies for cancer.
Novartis will pay Bicycle $50 million upfront, with downstream milestones adding up to a potential $1.7 billion. In exchange, Bicycle will use its virus-based platform to discover new bicyclic peptides, which it calls bicycles, that would be used for radiotherapies. Those bicycles would act as a homing beacon for radioactive isotopes, delivering them to cancer cells to kill the cells while limiting radiation to healthy tissue.
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