Bicycle to get $10M as Genentech uses option for new program under cancer drug collaboration

Jul. 12, 2022 7:28 AM ETBicycle Therapeutics plc (BCYC)RHHBY, RHHBFBy: Ravikash, SA News Editor

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  • Bicycle Therapeutics (NASDAQ:BCYC) will get $10M from Genentech as the Roche (OTCQX:RHHBY) (OTCQX:RHHBF) unit exercised its second option to begin a new program under a collaboration to discover, develop and sell novel immuno-oncology therapies.
  • The two companies entered a collaboration in February 2020 for the discovery and pre-clinical development of novel Bicycle-based immunotherapies for multiple targets.
  • Genentech was granted the right to add two additional programs, one of which was exercised by the Roche unit in October 2021 triggering a $10M payment while the second has been exercised now.
  • Bicycle noted that none of the compounds in its wholly owned cancer pipeline, including its immuno-oncology candidates, are included in the collaboration.

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