Bicycle Therapeutics to receive milestone from eye drug development agreement

Bicycle Therapeutics to receive milestone from eye drug development agreement

April 20, 2017 Off By Dino Mustafić

ThromboGenics will pay preclinical milestone to Bicycle Therapeutics in connection with the advancement of a Bicycle (bicyclic peptide) into preclinical development for the treatment of diabetic macular edema.

ThromboGenics will start pivotal tox studies as a last step before starting the clinical development which is expected for early 2018, ThromboGenics said in its press release on Thursday.

THR-149 is a bicyclic peptide (Bicycle) identified as a lead candidate in the alliance between ThromboGenics and Bicycle Therapeutics, a biotechnology company pioneering a new class of therapeutics based on its proprietary bicyclic peptide (Bicycle) product platform.

According to agreement, ThromboGenics has an exclusive license to undertake pre-clinical and clinical development and subsequent commercialization of a specified drug candidate. Bicycle Therapeutics will achieve right to receive development milestone payments and royalties on sales of products resulting from the collaboration.

Dr. Patrik De Haes, MD, Chief Executive Officer of ThromboGenics NV said: “We believe that THR-149, a novel plasma kallikrein inhibitor, holds great promise for ophthalmology applications, expanding the range of treatment options available for people with diseases of the eye, particularly DME. We are rapidly moving towards the clinic, and expect to begin clinical development of THR-149 in early 2018.”

Dr. Kevin Lee, Ph.D., Chief Executive Officer of Bicycle Therapeutics said: “We are continuing to expand our pipeline through strategic research collaborations which will extend our reach into new therapeutic areas and allow us to explore new applications for the Bicycle platform.”