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Ionis Pharmaceuticals will pay Bicycle Therapeutics $45 million to license the firm’s bicyclic peptide technology. Bicycle is developing the synthetic short peptides as oncology treatments. But Ionis will use them to deliver oligonucleotide therapeutics to tissue, taking advantage of the high affinity for the transferrin receptor of some of Bicycle’s peptides. Bicycle will retain rights to use the peptides for all nonoligonucleotide delivery applications.
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