AstraZeneca has signed a wide-ranging deal with private biotech firm Bicycle Therapeutics to develop a novel class of small molecule medicines for treating respiratory, cardiovascular and metabolic diseases.
The companies said on Thursday the alliance could potentially be worth more than $1 billion to Bicycle, if all planned programs reach the market. This includes an undisclosed upfront payment.
The early-stage research is focused on using Bicycle’s so-called bicyclic peptide products, which have some of the characteristics of injectable antibody drugs but are small molecules that could be given as pills.
For AstraZeneca, the deal expands its drug discovery capacity in core therapeutic areas outside oncology. Currently, most investors in the company are focused on its pipeline of experimental cancer treatments.
Bicycle, which raised $32 million from investors in an initial funding round in 2014, was set up to capitalize on research initiated at the MRC Laboratory of Molecular Biology in Cambridge, England.
By Ben Hirschler
Source: Reuters
Giovanni Caforio, the former CEO of Bristol Myers Squibb, is set to become the next board chairman of Novartis, which on Tuesday proposed the pharmaceutical industry veteran as its pick to replace Joerg Reinhardt in the role next year. Reinhardt has served as Novartis’ chair since 2013 and plans to retire when his 12-year term ends in 2025.
GE HealthCare has raised the curtain on two ultrasound systems equipped with artificial intelligence programs designed to assist in diagnosing conditions in women’s health, including obstetric exams. The Voluson Signature 20 and 18 imaging systems include AI tools capable of automatically identifying and annotating measurements of fetal anatomy.
Scientists from the University of Edinburgh’s School of Chemistry have revealed a new sustainable method of manufacturing complex molecules that could reduce waste produced during drug production. The method published in Nature Chemistry could help to prevent severe side effects caused by drugs that can exist as enantiomers.
