Bioverativ & Bicycle Therapeutics Enter into Strategic Research Collaboration to Develop Therapies for Haemophilia & Sickle C...
September 06 2017 - 2:00AM
Business Wire
Bicycle to receive an upfront payment of $10
million, with potential for future milestones
Bioverativ Inc. (NASDAQ: BIVV), a global biotechnology company
focused on the discovery, development and commercialisation of
innovative therapies for haemophilia and other rare blood
disorders, and Bicycle Therapeutics Ltd., a biotechnology company
pioneering a new class of therapeutics based on its proprietary
bicyclic peptide (Bicycle®) product platform, today announced a
research collaboration focused on the discovery, development and
commercialisation of innovative therapies for haemophilia and
sickle cell disease.
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The collaboration will seek to identify and develop Bicycles to
treat rare blood disorders. Bicycles are a new therapeutic modality
that combine attributes of antibodies, small molecules and peptides
within one molecule, enabling high selectivity and affinity while
simultaneously being able to penetrate and bind to the target(s) of
interest within the body.
Bicycle Therapeutics will be responsible for leading initial
discovery activities through lead optimisation to candidate
selection for two programs. Bioverativ will lead preclinical and
clinical development, as well as subsequent marketing and
commercialisation. Bioverativ will reimburse Bicycle for internal
and external program-related costs.
Upon execution of the agreement, Bicycle will receive a $10
million upfront payment and near-term research and development
funding of $4.2 million. Bicycle is eligible to receive up to $410
million related to development, regulatory and commercialisation
milestones for products planned under the two programs, as well as
tiered single to low double-digit royalties related to product
sales. Additional terms of the transaction are not being
disclosed.
“We are constantly exploring new ways to do innovative science
to find new molecules that can advance the care of people living
with rare blood disorders,” said Tim Harris, Ph.D., D.Sc.,
Executive Vice President of Research and Development at Bioverativ.
“This collaboration offers a unique opportunity to identify an
entirely new therapeutic modality that may lead to meaningful new
treatments and outcomes for people living with haemophilia and
sickle cell disease. We are delighted to be working with Bicycle to
pursue our shared goal of creating progress for patients with great
unmet treatment needs.”
“We believe our Bicycle platform has extremely broad therapeutic
potential and we are excited to work with Bioverativ, a standout
leader in the haematology field, to explore Bicycles in this
important area of clinical need,” said Kevin Lee, Chief Executive
Officer of Bicycle Therapeutics. “Combining Bioverativ’s deep
expertise in haematology with our powerful platform offers great
promise for the development of novel, targeted therapies for
patients. This alliance provides the latest validation of our
Bicycle platform and furthers our strategy to evaluate its
potential in a wide range of new disease areas.”
About BioverativBioverativ is a global biotechnology
company dedicated to transforming the lives of people with
hemophilia and other rare blood disorders through world-class
research, development and commercialization of innovative
therapies. Launched in 2017 following separation from Biogen Inc.,
Bioverativ builds upon a strong heritage of scientific innovation
and is committed to actively working with the blood disorders
community. The company’s mission is to create progress for patients
where they need it most and its hemophilia therapies when launched
represented the first major advancements in hemophilia treatment in
more than two decades. For more information, visit bioverativ.com
or follow @bioverativ on Twitter.
About Bicycle TherapeuticsBicycle Therapeutics is
developing a new class of medicines to treat oncology and other
important diseases based on its proprietary bicyclic peptide
(Bicycle®) product platform. Bicycles exhibit the affinity and
exquisite target specificity usually associated with antibodies.
Their small size enables rapid and deep tissue penetration,
allowing tissues and tumours to be targeted from within. Their
peptidic nature provides a “tuneable” pharmacokinetic half-life and
a renal route of clearance, thus avoiding the liver and
gastrointestinal tract toxicity often seen with other drug
modalities. Bicycle Therapeutics is rapidly advancing towards the
clinic with its lead programs using Bicycle Drug Conjugates® to
selectively deliver toxins to tumours. Bicycle Therapeutics enters
into collaborations in order to advance its programs and realise
the full potential of the technology. Bicycle Therapeutics’ unique
intellectual property is based on the work initiated at the MRC
Laboratory of Molecular Biology in Cambridge, U.K., by the
scientific founders of the company, Sir Gregory Winter and
Professor Christian Heinis. Bicycle Therapeutics is headquartered
in Cambridge, U.K., with a U.S. subsidiary in Cambridge,
Massachusetts. For more information, visit www.bicycletherapeutics.com.
Bioverativ Safe Harbor
This press release contains forward-looking statements,
including statements about the potential benefits and developments
that may be achieved through the collaboration with Bicycle. These
statements may be identified by words such as “believe,” “expect,”
“may,” “plan,” “potential,” “will” and similar expressions, and are
based on Bioverativ’s current beliefs and expectations. These
statements involve risks and uncertainties that could cause actual
results to differ materially from those reflected in such
statements. Risks and uncertainties that may cause actual results
to differ materially include, among others: uncertainty regarding
the ability to achieve the expected benefits from the
collaboration, including as a result of risks and uncertainties
associated with drug development and commercialization; reliance on
third parties over which Bioverativ may not always have full
control; risks associated with collaborations; and other risks and
uncertainties that are described in the Risk Factors section of
Bioverativ’s most recent annual or quarterly report filed with
the Securities and Exchange Commission. Any forward-looking
statements speak only as of the date of this press release and
Bioverativ assumes no obligation to update any forward-looking
statements, whether as a result of new information, future events
or otherwise.
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version on businesswire.com: http://www.businesswire.com/news/home/20170905006570/en/
BioverativMedia Contact:Marianne McMorrow,
+1-781-663-4376media@bioverativ.comorInvestor Relations
Contact:Susan Altschuller,
+1-781-663-4360IR@bioverativ.comorBicycle TherapeuticsTen
Bridge Communications (U.S.)Sarah Sutton,
+1-518-932-3680Sarah@tenbridgecommunications.comorConsilium
Strategic Communications (EU)Mary-Jane Elliott / Chris Gardner /
Ivar Milligan, +44 20 3709 5700Bicycle@consilium-comms.com
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