Bicycle deal: observing the wheels in motion of Bayer's business development strategy

Earlier this month, UK biotech Bicycle Therapeutics (Nasdaq: BCYC) entered a strategic collaboration with Germany’s Bayer (BAYN: DE).

The agreement is for the discovery, development, manufacture and commercialization of Bicycle radioconjugates for multiple agreed upon oncology target, utilizing proprietary bicyclic peptides technology (Bicycle).

For Bicycle, this deal brought the opportunity to tout partnerships with both of the major pharma players who have approved radiotherapy medicines on the market, the other being Novartis (NOVN: VX).