Genentech pays Bicycle $30M upfront to form discovery-stage immuno-oncology pact

Roche’s Genentech is paying $30 million (€28 million) upfront to work with Bicycle Therapeutics on the development of immuno-oncology therapies. Bicycle will apply its discovery platform to multiple targets, putting itself in a position to pull in up to $1.7 billion in milestones as the assets progress.