Bayer Saddles Up For Bicycle Radioconjugate Pact
Second Big Pharma Partner In Two Months For UK Biotech
The German major is paying $45m upfront to get access to Bicycle’s synthetic peptides for the discovery and development of multiple targeted radioconjugates in oncology.
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Funding for UK biotechs shrank again last year but sector leaders see hope of green shoots in 2024.
Public Company Edition: Apogee grossed $300m and Sagimet raised $85m in the biggest initial public offerings in the US since Acelyrin’s $540m IPO in May. Also, Bausch entered into a $600m funding facility with KKR, Bicycle raised $200m in a FOPO and Caribou garnered $150m from an offering and Pfizer.
The XinThera deal gives Gilead multiple PARP1 and MK2 inhibitors. Also, Roche licenses a HER2 kinase inhibitor from Zion, Amgen partners with TScan in Crohn’s disease and Baxter sells the last of its biopharma operations – a CDMO business – for $4.5bn.