May 10 Quick Takes: Bicycle in third radiopharma deal of year

The radiopharmaceutical collaboration between Bicycle Therapeutics plc (NASDAQ:BCYC) and Bayer AG (Xetra:BAYN) is the British company’s third such collaboration announced this year. Bicycle will discover and develop bicyclic peptides against multiple undisclosed oncology targets with Bayer, which will fund all preclinical and clinical development, manufacturing and commercialization. Bicycle will receive $45 million up front, and is eligible for up to $1.7 billion in milestones, plus mid-single to double-digit tiered royalties. The company’s platform uses phage display to discover constrained bicyclic peptides that can be attached to a therapeutic payload; its other two radiopharmaceutical collaborations are with Novartis AG (SIX:NOVN; NYSE:NVS) and the German Cancer Research Center (DKFZ) and were announced in March and May this year.

Boehringer Ingelheim GmbH and Zealand Pharma A/S (CSE:ZEAL; NASDAQ:ZEAL) reported top-line Phase II data for GLP-1/GCG dual agonist BI 456906 that showed up to 14.9% weight reduction in patients treated with the planned maintenance dose at 46 weeks, meeting the study’s primary endpoint. The partners did not disclose data from the placebo group, but said additional data would be presented at the American Diabetes Association (ADA) Scientific Sessions, which are being held June 23-26...