Stephenson Harwood advises Bicycle Therapeutics on radiopharmaceuticals deal with Novartis

Law firm Stephenson Harwood LLP has advised Bicycle Therapeutics on its recent strategic collaboration agreement with Novartis to discover and develop multiple targeted radioligand therapies in oncology.

The two companies will develop, manufacture and commercialise Bicycle® radio-conjugates (BRCs) for multiple agreed upon oncology targets.

Under the terms of the agreement, Bicycle will use its proprietary phage platform to discover "Bicycles" to be developed into BRCs. Novartis will be responsible for further development, manufacture and commercialisation of the BRCs. Bicycle will receive a US$50 million upfront payment. It is also eligible to receive development and commercial-based milestone payments totalling up to US$1.7 billion, as well as tiered royalties on Bicycle-based medicines commercialised by Novartis.

UK-headquartered Bicycle is a clinical-stage biopharmaceutical company that develops a novel class of medicines, referred to as Bicycles, for diseases that are underserved by existing therapeutics.

The Stephenson Harwood team was led by partner Naomi Leach, who was supported by associates Anne Stoffels and Sriya Coomer.