Bicycle, Ionis To Develop Targeted Oligonucleotide Therapeutics

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  • Bicycle Therapeutics plc BCYC announced that Ionis Pharmaceuticals Inc IONS has exercised its option and entered into an exclusive worldwide license and collaboration agreement to develop oligonucleotide therapeutics.
  • The agreement granted Ionis the right to evaluate tissue-targeting TfR1 binding Bicycles as vehicles to deliver oligonucleotide therapeutics to specific organ systems and an option to obtain an exclusive license at the end of the evaluation period.
  • Bicycle receives $45 million upfront and an $11 million equity investment. It is also eligible to receive milestone payments for each program developed under the collaboration.
  • Both the companies will collaborate to develop a pipeline of oligonucleotide candidates, while Bicycle retains the rights to use TfR1 Bicycles for all non-oligonucleotide therapeutic purposes.
  • Price Action: IONS and BCYC shares closed at $37.29 and $31.58, respectively, on Monday.
Posted In: BiotechNewsHealth CareContractsSmall CapGeneralBriefs
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