Shots:

• Bicycle receives $45M as up front and is eligible to receive development- regulatory and commercial milestones along with royalties for each program developed under the collaboration
• Ionis exercised its option for an exclusive license under the terms of a Dec’2020 evaluation and option agreement and get rights to evaluate tissue-targeting TfR1 binding Bicycles as vehicles to deliver oligonucleotide therapeutics and an option to obtain an exclusive license at the end of the evaluation period
• Bicycle retains the rights to use TfR1 Bicycles for all non-oligonucleotide therapies. Currently- Bicycle collaborates with DDF to advance potential TfR1 Bicycles for dementia

  Ref: Business Wire | Image: Bicycle Therapeutics