Bicycle Therapeutics with offices in Cambridge, UK and Cambridge, Mass., inked a deal with London, UK-based AstraZeneca PLC (AZN) that could be worth $1 billion. Bicycle Therapeutics has a technology platform that identifies proprietary bicyclic peptides, or Bicycles. Under the deal, Bicycle will identify the molecules for an undisclosed number of targets that AstraZeneca specifies. Then AstraZeneca will continue to develop and market any products.
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