Novartis has hopped on Bicycle Therapeutics’ radio-conjugates ride with a $50 million upfront payment and a further $1.7 billion possible down the road. The two companies will use Bicycle’s bicyclic peptide technology to develop Bicycle radio-conjugates, or BRCs, for several undisclosed oncology targets, according to a Tuesday morning press release. Once the BRCs are discovered, Novartis will be responsible for further development, manufacturing and commercialization, including preclinical and clinical expenses. Source: Fierce Biotech 28/3/2023