Bicycle Therapeutics enters Novartis collaboration for Bicycle radio-conjugates; $50M upfront, up to $1.7B milestones

BICYCLE THERAPEUTICS PLC

Bicycle Therapeutics receives $50M upfront from Novartis to discover Bicycle radio-conjugates for oncology targets.
Total potential milestones up to $1.7B, plus tiered royalties on commercial sales at high single to low double digits.
Novartis funds all preclinical/clinical development, manufacturing, and commercialization for BRCs.
Collaboration initially covers two targets; Novartis pays mid-teen million candidate selection fees per product.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

BICYCLE THERAPEUTICS PLC entered into Collaboration Agreement with Novartis Pharma AG valued at $50 million (effective 2023-03-27).

Action: entry
Agreement: collaboration
Counterparty: Novartis Pharma AG
Value: $50 million
Effective: 2023-03-27

Exact text from the filing

On March 27, 2023, BicycleTx, Limited. (the “Company”) and Novartis Pharma AG (“Novartis”) entered into a collaboration and license agreement (the “Collaboration Agreement”)

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BICYCLE THERAPEUTICS PLC filing history →

Source: SEC EDGAR

accession 0001104659-23-037376

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