ThromboGenics gains rights to DME drug
Belgium-based biopharma firm ThromboGenics (Euronext Brussels: THR:BR) has entered into a collaboration and license agreement with privately-held UK firm Bicycle Therapeutics to develop and commercialize novel drugs inhibiting a specific target for the treatment of ophthalmic diseases, such as diabetic macular edema (DME).
ThromboGenics will pay Bicycle an undisclosed upfront fee, development and regulatory milestone payments and royalties on sales of products resulting from the collaboration. Further financial terms were not disclosed.
ThromboGenics intends to develop therapeutics based on Bicycle's bicyclic peptides, which inhibit a target involved in vascular permeability. Selective inhibition of this target represents a new approach that offers the potential to improve the treatment of DME. ThromboGenics and Bicycle will collaborate on the preclinical development of these bicyclic peptide inhibitors.
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