Roche Group’s member Genentech has signed a novel immuno-oncology therapies deal with biotechnology firm Bicycle Therapeutics.
Under a strategic collaboration agreement, the companies will involve in the discovery, development and commercialisation of novel Bicycle Therapeutics-based immuno-oncology therapies.
The deal allows Bicycle to explore its bicyclic peptide (Bicycle) technology on a range of immuno-oncology targets.
As per terms of the deal, Bicycle will secure a $30m upfront payment. Bicycle is eligible to receive an upfront payment and potential discovery, development, regulatory and commercial-based milestone payments up to $1.7bn.
In addition, Bicycle will secure tiered royalties on Bicycle-based medicines commercialised by Genentech.
Bicycle’s advanced discovery platform enables to quickly screen novel targets to detect Bicycles and conjugate these together to create novel molecules to address the potential limitations of other modalities.
Bicycle Therapeutics CEO Dr Kevin Lee said: “Our collaboration with Genentech recognizes the potential of Bicycle’s differentiated technology, which allows us to specifically direct immune cell stimulators and other payloads to tumours in a highly targeted manner.”
Under the deal, the companies will focus on the discovery and pre-clinical development of novel Bicycle-based immunotherapies against multiple targets.
Bicycle Therapeutics will take responsibility for discovery research and early pre-clinical development up to candidate selection, while Genentech will focus on further development and commercialisation after the selection of candidates.
Bicycle’s wholly-owned oncology pipeline, including its immuno-oncology candidates, is not part of the deal.
Roche pharma partnering global head Dr James Sabry said: “Bicycles represent a novel therapeutic modality and have shown promise as modulators of several types of tumour-killing immune cells.
“By leveraging Genentech’s deep understanding of cancer immunology and Bicycle’s technological expertise, we hope to create a new wave of immunotherapy options to expand the population of patients who could potentially benefit from this powerful treatment paradigm.”
In November 2019, Roche agreed to acquire US-based clinical-stage biotechnology company Promedior in a deal valued at around $1.39bn.