Bioverativ and Bicycle Therapeutics announced a research collaboration focused on the discovery, development and commercialization of innovative therapies for hemophilia and sickle cell disease.
The collaboration will seek to identify and develop Bicycles to treat rare blood disorders. Bicycles are a new therapeutic modality that combine attributes of antibodies, small molecules and peptides within one molecule, enabling high selectivity and affinity while simultaneously being able to penetrate and bind to the target(s) of interest within the body.
Bicycle Therapeutics will be responsible for leading initial discovery activities through lead optimization to candidate selection for two programs. Bioverativ will lead preclinical and clinical development, as well as subsequent marketing and commercialization. Bioverativ will reimburse Bicycle for internal and external program-related costs.
Upon execution of the agreement, Bicycle will receive a $10 million upfront payment and near-term research and development funding of $4.2 million. Bicycle is eligible to receive up to $410 million related to development, regulatory and commercialization milestones for products planned under the two programs, as well as tiered single to low double-digit royalties related to product sales. Additional terms of the transaction are not being disclosed.
“We are constantly exploring new ways to do innovative science to find new molecules that can advance the care of people living with rare blood disorders,” said Tim Harris, Ph.D., D.Sc., Executive Vice President of Research and Development at Bioverativ. “This collaboration offers a unique opportunity to identify an entirely new therapeutic modality that may lead to meaningful new treatments and outcomes for people living with hemophilia and sickle cell disease. We are delighted to be working with Bicycle to pursue our shared goal of creating progress for patients with great unmet treatment needs.”
“We believe our Bicycle platform has extremely broad therapeutic potential and we are excited to work with Bioverativ, a standout leader in the hematology field, to explore Bicycles in this important area of clinical need,” said Kevin Lee, Chief Executive Officer of Bicycle Therapeutics. “Combining Bioverativ’s deep expertise in hematology with our powerful platform offers great promise for the development of novel, targeted therapies for patients. This alliance provides the latest validation of our Bicycle platform and furthers our strategy to evaluate its potential in a wide range of new disease areas.”