Bicycle Rides Genentech Joins Another Immuno-Oncology Milestone

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Genentech has exercised his second option agreement to launch a new program with Therapeutic biketriggering a $10 million payment to the latter and expanding an existing deal that hopes to create new immuno-oncology (IO) treatments based on Bicycle.

In the initial deal, which could be worth up to $1.7 billion provided all milestones are met, Bicycle received Initial $30 million to give Genentech access to its proprietary bicyclic peptide platform to address a range of immuno-oncology targets. Under the terms of the agreement, Bicycle would receive $10 million each time Genentech decides to exercise an option.

“Bikes”, a new class of drugs being developed by Bicycle, are fully synthetic short peptides constrained by scaffolds of small molecules to create two loops to stabilize their structure. This constraint facilitates high affinity and selective target binding, making bikes viable candidates for oncology drug development.

Neither company provided details of the collaboration and did not specify the oncology projects they are working on. Bicycle’s pipeline describes three anti-tumor programs in preclinical and clinical development, including its lead candidate BT1718, which targets MT1-MMP, and certain “undisclosed IO programs” attributed to the Genentech deal.

Bikes represent a new therapeutic modality and have shown promise as modulators of several types of tumor-killing immune cells,” James Sabry, Head of Pharmaceutical Partnership at rock commented in a previous press release. Roche is the parent company of Genentech.

“By leveraging Genentech’s deep understanding of cancer immunology and Bicycle’s technology expertise, we hope to create a new wave of immunotherapy options to expand the patient population that could potentially benefit from this powerful treatment paradigm,” added Sabry.

The first possibility, exercised in October 2021, came with a $10 million payout to Bicycle. It was stated, however, that none of the compounds in Bicycle’s oncology pipeline, including immuno-oncology candidates, were included. The second option, which was announced recently, says the same thing and remains vague on the details of the project.

Bicycle will be responsible for discovery research and early preclinical development through candidate selection. Once the drug candidates have been chosen, Genentech will step in to pursue development and commercialization.

“We are delighted with both the continued progress of our collaboration with Genentech’s preeminent immuno-oncology team and the fact that Genentech has once again elected to exercise an option to add a new program. We look forward to continuing our collaboration to develop new bicycle-based cancer treatments,” said Kevin Lee, Ph.D., CEO of Bicycle Therapeutics.

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