Bicycle Therapeutics Enters Exclusive License and Collaboration Agreement with Ionis to Develop Targeted Oligonucleotide Therapeutics
Ionis had an option for an exclusive license under the terms of a December 2020 evaluation and option agreement.
- Ionis had an option for an exclusive license under the terms of a December 2020 evaluation and option agreement.
- Bicycle receives a total of $45 million upfront, which includes a license fee, an option fee, and an $11 million equity investment.
- Bicycle is also eligible to receive development, regulatory and commercial milestone payments and royalties for each program developed under the collaboration.
- This agreement stems from a highly successful collaboration with Ionis that began earlier in the year, during which Bicycles were shown to selectively deliver oligonucleotide payloads into TfR1-expressing tissue, said Kevin Lee, Ph.D., Chief Executive Officer of Bicycle Therapeutics.