AstraZeneca Puts Bicycles To Work In Multitarget Deal
AstraZeneca has entered a broad early stage collaboration with Bicycle Therapeutics to discover and develop bicyclic peptides (Bicycles). If all aspects of the multitarget deal reach fruition, the deal could be worth up to £1bn for the small biotech company.
You may also be interested in...
Bicycle closes a $52m Series B to test its bicyclic peptides in humans, while Decipera, Harpoon and TP Therapeutics also top a $263m list of recent venture capital deals. In public company financings, Alnylam, Aerie and others price offerings to raise cash while their stocks are on the rise.
Deals for technology platforms allow more of a multiple-shots-on-goal approach as opposed to taking a risk with one or two candidates.
Merck could pay up to $167m to try a new epigenetic target, which would build on its existing HDAC inhibitor. Meanwhile, Celgene buys epigenetics-focused Acetylon, which will spin out new company Regenacy to work with its lead HDAC6 inhibitor outside of oncology.